Eric Lefkofsky gets $80M in new funding for Tempus, fights cancer with technology

Tempus, the cancer-fighting tech firm led by Groupon co-founder Eric Lefkofsky, recently announced that it has received $80 million in new investments to continue its mission to revolutionize cancer treatment by using technology to collect and utilize genomic data from patients and make it accessible to doctors. This latest deal tops Tempus’ overall valuation at around 1.1 billion dollars, giving the company “Unicorn” status, a term coined to describe startup companies valued over $1 billion.

Lefkofsky’s Chicago-based company has built “an operating system to battle cancer.” Tempus works with doctors and hospitals to conduct molecular sequencing and analysis, and it combines that information with clinical data from cancer patients. Even doctor’s handwritten notes can be converted to searchable digital files to optimize treatment for patients. The goal is to create a library of data about the patient as outcomes of previously treated patients to help guide future treatment options. It may help predict outcomes of certain treatments, to ultimately improve patient’s survival rates and quality of life.

Tempus has announced a number of partnerships with renowned cancer research and treament centers such as Mayo Clinic, Parker Institute for Cancer Immunotherapy, NYU School of Medicine, and Cleveland Clinic, to name a few. Lefkofsky says the concept of using big data to help patients has been well received and is quickly gaining traction.

Lefofksy, whose life has been personally touched by cancer, plans to use the new funds to expand the fast-growing company. At this time, Tempus has around 400 employees, and that number is increasing rapidly. The company expects to continue adding about 30 employees a month to meet growing demand.

Tempus represents Eric Lefkofsky’s latest achievement. In addition to co-founding Groupon (NASDAQ: GRPN), he is co-founder and CEO of several tech-based companies: Uptake Technologies, Echo Global Logistics (NASDAQ: ECHO), InnerWorkings (NASDAQ: INWK), Mediaocean, and venture capital firm, Light-bank, of Chicago. Eric Lefkofsky and his wife Liz have established the Lefkofsky Family Foundation, a private, charitable trust which seeks to not only eradicate cancer, but also to enhance the quality of human life by supporting high-impact initiatives in communites they serve around the world.

About Eric Lefkofsky:

Here’s What Makes Clay Siegall An Exceptional Cancer Expert

Success is built through seizing opportunities. Clay Siegall had an eye opener during his youthful years that made him decide to pursue a health-related career. Apart from earning it big financially, he resolved to assist cancer patients in the formulation of cancer drugs. As a result, he is the Founder and the CEO of Seattle Genetics, a biotech company that focuses on the development of targeted cancer therapy drugs.

Career choices are prompted by different reasons. For Clay Siegall, the decision was stimulated by the fact that medicine interested him since childhood. Moreover, the technology in the field seemed quite fascinating. With the new technologies, his interests became more vivid, and his focus was to experience the power of the advanced technology. Besides, he wanted to suppress the dominance of illnesses in the world.

Clay Siegall’s interest in medicine became more real during his college years. Unfortunately, his father fell ill and was diagnosed with cancer. The treatment at the time was brutal such that his father almost succumbed to death, not because of the chronic ailment but the adverse side-effects of the chemotherapy treatment. In his quest to seek better therapies, his desire was brought to life more than ever, and he went ahead to build a career on it. Over time, he has developed to be among the most prolific scientists focusing cancer therapies and treatments.

Clay Siegall has been the force behind his company’s development of proprietary drugs that have worked remarkably well. The continuous sale of the drugs has injected substantial revenues into his business. Clay attained a Bachelor’s of Science degree in Zoology from the University of Maryland. He is also a Ph.D. holder in Genetics from the University of George Washington.

Clay’s career at Seattle Genetics has been marked by incredible achievements. Also, he has worked for other highly reputable medical facilities. For instance, he has rendered his unique professional services at the National Institute of Health, Bristol-Myers Squibb Pharmaceutical Research Institute, and also the National Cancer Institute. Besides, Siegall sits on the Board of Alder BioPharmaceuticals. Clay has also authored numerous publications and holds about 15 patents. He attributes his achievements to his inbuilt passion, focus and hard work in his work.