Eric Lefkofsky's Tempus Recently Hauled In $80 Million In Financing

Eric Lefkofsky's Tempus Recently Hauled In $80 Million In Financing

Eric Lefkofsky's Tempus Recently Hauled In $80 Million In Financing

Tempus, a healthcare technology company that's based in Chicago, Illinois, recently received funding to the tune of $80 million. News broke of the additional round of funding, spread across existing investors that had previously helped contribute roughly $130 million to the data processing entity alongside brand-new noncontrolling interests.

What is Tempus, who created it, and what functions does it undertake?

A longtime entrepreneur who started his career off as a lawyer following the earning of a Juris Doctor degree from the University of Michigan went on, after countless highly successful, big-ticket business ventures, to create Tempus - Eric Lefkofsky.

As it stands today, Tempus has only accumulated a total of $210 million in funding but remains worth a whopping $1.1 billion.

Now that Tempus is worth more than $1 billion as a startup with just a few years' worth of operation under its belt, it's colloquially known as a "unicorn." To be a unicorn, which isn't an official name in the world of finance or entrepreneurship, a business must be a startup - although it isn't clear what the maximum age for a unicorn is - and be worth at least one billion United States Dollars.

Decacorns and hectocorns are similar to unicorns in the sense they are startups with high valuations; however, the former is worth at least $10 billion, and hectocorns are worth a whopping $100 billion! The prefixes of these business nicknames come from the number of zeros that are in the dollar valuation of them. Decacorns, by definition, are worth ten times more than unicorns, hence the deca- prefix; whereas hectocorns are worth at least one hundred times more than their uni- counterparts.

Explained - the inner workings of Tempus, Lefkofsky's tech-savvy creation

Tempus is home to just short of 500 employees, meaning it's not quite a full-fledged "large" business. According to the Small Business Administration, Tempus is still a small business! It's safe to say that no reasonable business analyst, investor, or entrepreneur would call Tempus small, in any regard.

However, the company is soon to break that mark, as Eric Lefkofsky has reported that it's adding more than 30 employees per month. That's a lot of growth when considering how tech-intensive Tempus is, as computers and their respective software do most of the work.

When it comes to the operations of Tempus, it sources cancer patients' data from select hospitals across the nation that it's partnered with. Tempus pays such hospitals for sharing their information with Tempus, which is subject to all applicable HIPAA laws, or those that protect patients from the wrongful sharing of their private information.

Thanks to the power of computers, Tempus is constantly improving the treatment paths for people diagnosed with cancer around the world.

About Eric Lefkofsky, the mind behind it all

Lefkofsky has founded and co-founded countless business endeavors, including MediaBank, Lightbank, and Uptake. He's currently the CEO of Tempus, Inc., yet another company he co-founded.

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