Open-source application platform Temporal Technologies has raised $550m in a Series E round led by Lightspeed Venture Partners at a $12.55bn valuation.
Wellington Management, Growth Equity at Goldman Sachs Alternatives and Tiger Global co-led the financing. T. Rowe Price and SV Angel also participated, while a16z, Sequoia, Index, GIC, Amplify, and Sapphire Ventures returned as investors.
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Temporal provides technology for building and operating applications, including business-critical systems and long-running AI agents. Its durable execution technology retains application state, allowing work to continue after failures and reach completion.
The company said that developers can use their preferred languages and choose models, tools and infrastructure, either operating the open-source platform themselves or using managed Temporal Cloud.
According to Temporal, its annualised revenue run rate has recently exceeded $250m, representing growth of more than 200% year-on-year. Net dollar retention has been above 200% since February, while Temporal Cloud processed more than 1.9 trillion actions in August, up by more than 350% year-on-year.
The company reported that open-source installations surpassed 43 million in August, a 134% increase from January 2026. It claims to have more than 4,300 paying customers, including OpenAI, Snap, Netflix, Nvidia and JPMorgan Chase.
Temporal co-founder and CEO Samar Abbas said: “As agents take on more critical work across more systems, every additional step creates another place to fail. In production, that work has to survive those failures and finish reliably.
“Temporal was built for this problem. Durable execution is becoming the standard for reliable applications at scale, and this investment reflects the conviction that much of the next generation of software will be built on Temporal.”
Temporal’s platform is used for applications including long-running agents, autonomous-vehicle simulations, payments and customer operations.
Lightspeed partner Anoushka Vaswani said: “Every team building on AI hits the same wall: the demo is easy, production is hard, because the systems around the models can’t handle real-world execution.
“Most of the market solves that by locking teams into a proprietary stack. Temporal is the open, pluggable foundation that runs their agents and the systems they already depend on, and it’s becoming one of the most important pieces of infrastructure in the agentic era.”
Temporal plans to use the capital to deepen platform research and development (R&D), expand developer and enterprise go-to-market activity, and scale the teams and infrastructure supporting its next phase of growth. It also intends to expand its global operations in response to worldwide demand.
The company’s workforce has doubled over the past year to 570 employees. The financing follows a $300m Series D announced in February 2026 at a $5bn valuation, led by Andreessen Horowitz. In March 2025, Temporal raised $146m in a Tiger Global-led Series C at a $1.72bn post-money valuation.
