For a startup to be successful they need to attract investors that are excited about and believe in the potential for the company to succeed. That means that investors are everything because they can make or break a startup. That is why the new start-up company that Eric Lefkofksy has co-founded., Tempus is proud that they have reached Unicorn status. Unicorn Status is a term used in startup culture to describe when a company has been valued at over 1 billion, while still being privately held. It is very rare, and only a handful of Chicago based companies have achieved this. Reaching Unicorn Status means that a company has been successful at their objective and that investors believe that this success will continue.
For Eric Lefkofsky’s company Tempus, which was founded in 2015, success means that they have been able to help change the way cancer care is implemented. Specifically, they analyze data about cancer treatment patients and then use this data analysis to help oncologists find a better course of treatment. Lefkofsky is a data specialist who co-founded the company because he became interested in helping ensure that cancer patients had a better quality of life.
From the knowledge learned by crunching the numbers and finding out which treatments work for which patients, Lefkofsky, and the company are able to help doctors find a specific course of treatment for specific types of cancers. In the past, oncologists had been prescribing a more or less “one size fits all” treatment plan for their patients without really knowing which treatments are successful for which patients and their particular cancer. Oncologists are able to study the database that Tempus has created and will hopefully make new discoveries about cancer treatment options, thus making the lives of cancer patients easier.
With their latest round of funding, Tempus was able to secure 80 million dollars from donors who were impressed by the way the company is able to use data to change cancer treatment. Some of the investors that helped Tempus reach Unicorn status include new investors Kinship Trust Co, as well as Revolution Growth and New Enterprise Associates.
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