Temporal, an open-source platform for building reliable AI applications and critical systems, raised $550 million in Ser

Temporal announced a $550 million Series E funding round led by Lightspeed Venture Partners at a valuation of $12.55 billion. Co-leads include Wellington Management, Growth Equity at Goldman Sachs Alternatives, and Tiger Global, with participation from T. Rowe Price and SV Angel. Returning investors include Andreessen Horowitz, Sequoia, Index Ventures, GIC, Sapphire Ventures, and Amplify.

The funding round comes as Temporal has achieved substantial growth throughout 2026. The company's annualized revenue run rate recently surpassed $250 million, representing more than 200 percent year-over-year growth. Net dollar retention has exceeded 200 percent since February. Temporal Cloud processed more than 1.9 trillion actions in August, up 350 percent year-over-year. Open-source installations surpassed 43 million in August, a 134 percent increase since January 2026. The company now serves more than 4,300 paying customers, including OpenAI, Snap, NVIDIA, Netflix, and JPMorgan Chase.

Samar Abbas, co-founder and CEO of Temporal Technologies, 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."

Anoushka Vaswani, Partner at Lightspeed Venture Partners, commented: "Every team building on AI hits the same wall: the demo is easy, production is hard, because the systems around the models cannot 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 is becoming one of the most important pieces of infrastructure in the agentic era."

Temporal's customer base spans applications including long-running agents, autonomous vehicle simulations, payments processing, and customer operations. Notable customers include Anysphere, which develops Cursor; Lovable, NVIDIA, Scale AI, Salesforce, Shopify, Netflix, Booking.com, JPMorgan Chase, Block, and DoorDash, along with thousands of additional organizations.

The company plans to use the funding to expand its global operations to meet worldwide demand. Temporal's team has doubled to 570 employees over the past year. The capital will support deeper platform research and development, growth in developer and enterprise go-to-market efforts, and expansion of the teams and infrastructure supporting the company's next phase of growth.