Eric Lefkofsky And Tempus, Striving To Improve Patient Outcomes
In March, Chicago-based genomics startup, Tempus, announced that it has received $80 million in funding from new backers Kinship Trust Co. and funds advised by T. Rowe Price Associates. Additional capital from previous contributors, New Enterprise Associates and Revolution Growth, also contributed to this fundraising round.
The technology company, founded in 2015, fashioned an operating system that uses patient data to enhance cancer care, including the personalization of individual treatment plans. The goal is to take advantage of technology to streamline patient care, with an emphasis on efficiency. Tempus strives to redefine how genomic data is utilized in clinical settings and discover trends in cancer treatment.
Tempus co-founder, Eric Lefkofsky, serves as the company’s CEO and says that the organization has developed relationships with organizations and individuals in all facets of the health care system, in an effort to enlist big data to treat patients more effectively and improve outcome. Working alongside doctors and drug companies assists Tempus in generating more molecular data from those currently being treated for cancer, and integrating said data with patients’ electronic medical records.
Lefkofsky, who has an extensive background in the technology sector, has stated, “I think the traction we have had with everybody in the industry has been kind of amazing. We’re in the midst of one of the most significant paradigm shifts of our time.”
Since the beginning of operations in 2015, Tempus has received $210 million in funding. Recent new funding places Tempus’ worth at roughly $1.1 billion, according to a source who was close to the deal. Companies valued at over $1 billion achieve “unicorn” status, which is a distinction not held by many other Chicago-based startups.
Currently, Tempus has approximately 400 employees, including software engineers, and computational biologists, among other staff. This number is growing at a rate of about 30 new hires per month.
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