Temporal announced a $550 million Series E round at a $12.55 billion valuation, co-led by Lightspeed with participation from Wellington Management, Goldman Sachs Alternatives, and Tiger Global. Returning investors a16z, Sequoia, Index, GIC, Sapphire Ventures, and SV Angel also participated. The funding underscores growing demand for reliable AI infrastructure as customers deploy agents running for days or months.

Temporal addresses the challenge of maintaining reliability when AI integrates with critical system plumbing like payments and onboarding. The company's Durable Execution platform preserves state and automatically recovers work from failures, allowing applications to wait for approvals and resume after outages without manual reconstruction. Co-founders Samar Abbas and Maxim Fateev bring deep experience from Amazon, Microsoft, and Uber, where they built foundational workflow technologies including SWF and Cadence before launching Temporal as an independent open-source platform in 2017.

Temporal reports annualized revenue running rate growth of over 200% year-over-year and net dollar retention above 200% since February. The platform processed 1.9 trillion billable actions in August, a 350% increase year-over-year, with open source installs surpassing 43 million. Major customers include Open AI, Snap, NVIDIA, and JPMorgan Chase, with Snap moving 414 million Stories daily and JPMorgan Chase running Temporal in regulated production.

Open AI's use of Temporal has grown 60-fold in under a year.