Temporal, a US-based software startup, raised US$550 million in a funding round on September 14, valuing the company at US$12.55 billion, up from US$5 billion in February.

Temporal develops open-source software that helps applications, including AI agents, recover from failures without custom recovery code.

Lightspeed Venture Partners led the round, with Wellington Management, Growth Equity at Goldman Sachs Alternatives, and Tiger Global as co-leads.

Temporal said Temporal Cloud, its hosting platform for the open-source engine, has more than 4,300 customers and an annualized revenue run rate of more than US$250 million.

The company said it will use the proceeds to expand global operations and deepen research and development as it increasingly focuses on AI applications and agent workflows.

In February, it raised US$300 million in a series D round led by Andreessen Horowitz that the company said would help make agentic AI practical for enterprises.

🔗 Source: Reuters

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