News linked to both this project and an event.
According to Reuters, AI startup Temporal announced the completion of a $550 million late-stage funding round, more than doubling its valuation to $12.55 billion over seven months. The round was led by Lightspeed Venture Partners, with Wellington Management, Growth Equity under Goldman Sachs Alternatives, and Tiger Global participating as co-leads. SV Angel and T. Rowe Price Associates advisory accounts also participated, while existing investors Andreessen Horowitz (a16z), Sequoia Capital, and GIC continued their investment. The funds will be used to expand global operations and advance platform R&D. Founded in 2019, Temporal develops open-source software that helps applications, including AI agents, recover from failures, reducing the need for engineers to write custom recovery code. Its customers include OpenAI, Snap, Nvidia, Netflix, and JPMorgan Chase. The company employs 570 staff members and maintains an annualized revenue run rate of over $250 million, representing more than double year-over-year growth. In February this year, the company completed a round led by a16z at a $5 billion valuation
According to Bloomberg, AI startup Temporal Technologies Inc. is negotiating a new funding round, with a pre-money valuation of at least $12 billion and a financing size of approximately $500 million. The company primarily provides an open-source orchestration platform to help developers prevent failures in complex code. The funding round has not yet been completed, and specific details may still change.