Tempus, the cancer technology company co-founded by Eric Lefkofsky, received a large infusion of funds to aid people undergoing treatment for the disease. In the company’s latest round of fundraising, new and existing investors contributed $80 million to the company. This now puts Tempus’s assets at more than $1 billion. Some of the firms that have invested in Tempus include T. Rowe Price and New Enterprise Associates. Since Lefkofsky co-founded Tempus in 2015, the company has built a database of clinical and molecular data on nearly 20,000 cancer patients. This provides streamlined information for physicians to help them develop more personalized care for their patients.
This allows Tempus to provide genomic sequencing services and therapeutic data so physicians can make data driven decisions on how best to treat their patients. While Tempus specializes in medical data, Eric Lefkofsky himself did not have a medical background prior to forming the company. Some of his previous endeavors include founding the Lightbank, which invests in disruptive technologies, Echo Global Logistics, a technology-enabled transportation and logistics outsourcing firm, and he invested in Uptake Technologies, a predictive analytics platform for the world’s largest industries.
A graduate of the University of Michigan, Lefkofsky has also established the Lefkofsky Foundation to support scientific and educational organizations around the world. Lefkofsky said the $80 million in new funding will help Tempus’s efforts as it continues to grow. He explained the company is adding on average 30 new employees a month as it seeks to expand its data base of patients to aid physicians in their treatment. Lefkofsky added that to help unlock the mysteries of cancer, a lot of data is needed, and Tempus will help compile that information.