Open-source application platform Temporal Technologies raises $550M in Series E funding, reaching a $12.55B valuation
The Series E round was led by Lightspeed Venture Partners, with co-leadership from Wellington Management, Growth Equity at Goldman Sachs Alternatives, and Tiger Global. T. Rowe Price and SV Angel also participated, while existing investors a16z, Sequoia, Index, GIC, Amplify, and Sapphire Ventures returned. Temporal provides technology for building and operating applications, including business-critical systems and long-running AI agents. The company reported its annualized revenue run rate recently exceeded $250 million, growing over 200% year-on-year, and its net dollar retention has been above 200% since February. Temporal Cloud processed over 1.9 trillion actions in August, up more than 350% year-on-year, and open-source installations surpassed 43 million in August. The company plans to use the capital to deepen platform R&D, expand developer and enterprise go-to-market activity, and
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