According to a recent article in the Chicago Tribune, Tempus Labs, a biotech laboratory co-founded by Eric Lefkofsky, has increased its valuation to more than $1.1 billion. This boost in assets for Tempus Labs is the result of a recent investment of $80 million in additional funding. Since 2015, the total investments for Tempus Labs is approximately $210 million.
The co-founder of Tempus Labs is Eric Lefkofsky who earned his undergraduate degree from the University of Michigan and his JD from the University of Michigan Law School. With an entrepreneurial spirit, Lefkofsky’s area of expertise is “turning conventional businesses into e-enabled businesses with technology serving as a catalyst to revolutionize business programs.” It is his entrepreneurial spirit and penchant for technology that led to the co-founding of Tempus Labs, a biotech company that developed an operating system that enables the individualization of patient care. Tempus Labs developed a library of both molecular and clinical data housed in an operating system that makes genomic information and clinical patient information readily available and accessible to physicians. The goal is to facilitate the personalization of cancer care with a searchable database.
Tempus Labs because of its valuation at more than $1 billion is dubbed a “unicorn.” Just as a unicorn is rare and distinctive, so too is Tempus Labs, a successful startup in the midst of many startups that fail within four years. Aileen Lee, a venture capitalist, to identify startups with a valuation more than $1 billion, coined the term “unicorn” to identify successful startups. In speaking about the success of Tempus Labs, Eric Lefkofsky 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.”
It is the vote of confidence from investors who support the mission and vision of Eric Lefkofsky and Tempus Labs, investors like New Enterprise Associates and Revolution Growth, that has led to the success of Eric Lefkofsky and Tempus Labs.
Read More: www.crunchbase.com/person/eric-lefkofsky