Temporal, a developer of durable execution infrastructure, has raised $550 million in a Series E funding round. The investment values the Bellevue-based company at $12.55 billion. Lightspeed Venture Partners led the round, with participation from Wellington Management, Goldman Sachs Alternatives, Tiger Global, T. Rowe Price, and SV Angel.
The company’s valuation has more than doubled since February, when it reached $5 billion following a $300 million Series D round. Existing investors, including a16z, Sequoia, Index Ventures, GIC, Sapphire Ventures, and Amplify Partners, also participated. This latest round brings Temporal's total funding to approximately $1.2 billion.
Temporal reports an annualized revenue run rate exceeding $250 million, marking a year-on-year increase of over 200%. The platform serves more than 4,300 paying customers, including OpenAI, NVIDIA, Netflix, and JPMorgan Chase. In August, Temporal Cloud processed over 1.9 trillion actions, while open-source installations surpassed 43 million.
Founded in 2019 by Samar Abbas and Maxim Fateev, the company provides a Durable Execution layer that preserves code state to prevent failures during long-running tasks. The new capital will be used to advance platform R&D, expand go-to-market operations, and support a workforce that has grown to 570 employees.
