Temporal, which makes open-source software that keeps applications and AI agents running through failures, announced on 14 September 2026 that it had raised $550m in a Series E round at a $12.55bn valuation.
Lightspeed led the round. Wellington Management, the growth equity arm of Goldman Sachs Alternatives and Tiger Global were co-leads, and T. Rowe Price and SV Angel also took part. Existing investors Andreessen Horowitz, Sequoia, Index Ventures, GIC, Sapphire Ventures and Amplify returned.
The valuation is more than double the $5bn at which Temporal raised a $300m Series D in February. Including the new round, the company has raised about $1.2bn, according to The Next Web.
“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.”Samar Abbas, Co-founder and CEO, Temporal Technologies
What Temporal does
Temporal's core technology, which it calls Durable Execution, records an application's state as it runs so that work can resume and finish after a crash or outage. Developers can run the open-source software themselves or pay for Temporal Cloud, a managed service that generates the company's revenue.
The company was founded in 2019, according to The Next Web, by chief executive Samar Abbas and chief technology officer Maxim Fateev. The two previously built workflow software together at Amazon Web Services and then created Cadence, an open-source workflow engine, at Uber.
Temporal says its software runs long-running agents, autonomous-vehicle simulations, payments and customer operations for customers including Anysphere, the maker of Cursor, Lovable, NVIDIA, Scale AI, Salesforce, Shopify, Netflix, Booking.com, JPMorgan Chase, Block and DoorDash.
The numbers behind the round
The company said its annualised revenue run rate had recently passed $250m, up more than 200% on a year earlier, and that net dollar retention had been above 200% since February. Paying customers exceed 4,300.
Temporal Cloud processed more than 1.9 trillion actions in August, up more than 350% year on year, and open-source installs passed 43 million in August, up 134% since January. Its workforce has doubled over the past year to 570 people. The figures are the company's own and were not independently verified.
Abbas said agents were taking on more critical work across more systems and that each additional step created another place to fail. "Durable Execution is becoming the standard for reliable applications at scale," he said.
Who invested and what the money is for
Anoushka Vaswani, a partner at Lightspeed, said teams building on AI found that demos were easy but production was hard, because the systems around the models could not cope with real-world execution. She described Temporal as an open, pluggable alternative to proprietary stacks.
Temporal said it would use the money to deepen platform research and development, grow its developer and enterprise sales, expand global operations and scale its teams and infrastructure. The round also adds long-term institutional investors such as Wellington, Goldman Sachs and T. Rowe Price to its shareholder base.
The Series D in February was led by Andreessen Horowitz, with Lightspeed and Sapphire Ventures joining, according to reports at the time. The Next Web also noted that rivals in durable execution, including Inngest, Trigger.dev and Restate, have raised far less.
Company website: temporal.io