Temporal raises $550m, valuation more than doubles to $12.55b

Investing.com -- Temporal announced today it secured $550 million in a late-stage funding round, increasing its valuation to $12.55 billion from $5 billion in February. The funding round was led by Lightspeed Venture Partners, with Wellington Management, Growth Equity at Goldman Sachs Alternatives and Tiger Global serving as co-leads.

The company develops open-source software that enables applications, including AI agents, to recover from failure without requiring engineers to write custom recovery code. The startup generates revenue through Temporal Cloud, a commercial platform that hosts its open-source engine.

Temporal Cloud serves more than 4,300 customers, including OpenAI, Snap, Nvidia, Netflix and JPMorgan Chase. The company stated its annualized revenue run rate exceeded $250 million, representing more than triple the year-over-year figure.

AI companies represented 86% of U.S. venture deal value in the first half of 2026, according to the Pitchbook-NVCA Venture Monitor.

The Seattle-based company, which was founded in 2019 and employs 570 people, plans to use the funds to expand global operations and advance platform research and development.

SV Angel and accounts advised by T. Rowe Price Associates participated in the funding round. Andreessen Horowitz, Sequoia Capital and GIC returned as investors. Andreessen Horowitz led Temporal's previous $300 million funding round in February.

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