Tempus Inc. is a Chicago data analytics firm worth about $2 billion. It was co-founded by notable tech entrepreneur Eric Lefkofsky in 2015. When someone close to him was diagnosed with cancer a few years before one of the most noticeable things for him was that there was a lack of data when it came to determining what treatment option would be best for them. He decided to build a company that would collect both clinical and molecular data and then have a database analyze this data. The goal is to help doctors treat cancer in a more evidence-based fashion.
Eric Lefkofsky is also the CEO of Tempus. He announced on August 29th that its Series E financing round raised $110 million. This round of funding was led by the UK’s Baillee Gifford. Other investors included Revolution Growth, T. Rowe Price, and New Enterprise Associates as well as other existing investors.Since Tempus was established three years ago it has partnered with 250 American hospital systems. They have collected over 2 million clinical records from these partners to help with cancer treatment options.
They plan to use the money raised in the Series E financing round to expand into other health concerns like diabetes and cardiovascular disease. Eric Lefkofsky says that his company will also move beyond the United States and start offering their services in Europe, Australia, and Asia.Once a technology company is worth more than $1 billion it is referred to as a “unicorn”. There are around 200 unicorns worldwide with 100 of those being in the United States. In the Chicago area, where Tempus is based, the other unicorns included SMS Assist, Avant, Uptake Technologies, and ExteNet. Tempus now employees 500 people and that will steadily expand as the company is experiencing rapid growth.