Temporal Raises $550M at $12.55B Valuation

Temporal announced a $550 million Series E at a $12.55 billion valuation on September 14, 2026, in a round co-led by Lightspeed with Wellington Management, Growth Equity at Goldman Sachs Alternatives, and Tiger Global.

T. Rowe Price and SV Angel also participated, and returning investors include a16z, Sequoia, Index, GIC, Sapphire Ventures, and Amplify, according to the company’s announcement. Temporal said the funding will go toward growing its global operations, deeper investment in the core primitives underneath its platform, and reliability and security work that its enterprise customers have requested. The company said its team has doubled to 570 people over the past year.

Chief executive Samar Abbas framed the round around reliability as a foundation for AI-era software. “Reliability has never been optional, but AI has quickly raised the cost of skipping it, and developers need a foundation for that built in from day one, not bolted on afterward,” he said in the announcement. “This round is a bet that far more of the world’s most demanding software is going to be built on it.”

Growth Metrics and Named Customers

Temporal reported that its annualized revenue run rate is up more than 200% year over year and that net dollar retention has stayed above 200% since February 2026. The platform processed 1.9 trillion billable actions in August, a figure the announcement described as up more than 350% year over year, while open-source installs passed 43 million, up 134% since December 2025. The company said it now works with more than 4,300 paying customers, up 139% year over year.

In a letter published the same day, Abbas supplied exact figures behind the rounded numbers: 43,141,638 open-source installs and a 368% year-over-year increase in August actions. He wrote that 450,000 developers are building on Temporal’s open-source project, 4,000 organizations run on Temporal Cloud, and headcount is up 100% year over year across four continents.

The company’s named customers include OpenAI, Snap, NVIDIA, and JPMorgan Chase. According to Temporal, Snap moves 414 million Stories a day on the platform, JPMorgan Chase runs it in regulated production, and OpenAI’s usage has grown 60-fold in under a year.

“Durable Execution is more than ever a core requirement for modern AI systems, and Temporal offers a compelling platform to help build it in from the start,” Venkat Venkataramani, OpenAI’s vice president of infrastructure, said in the announcement. He said that requirement was one of the main reasons OpenAI invested in building a durable orchestration framework powered by Temporal.

Durable Execution and the Founders’ History

Temporal’s platform centers on what the company calls Durable Execution. Developers write ordinary code in whatever language and with whatever tools the job calls for, and Temporal handles the orchestration across systems for as long as the work takes. Under the model, state is preserved and work recovers from failures automatically; the company says that lets an application pause for days while awaiting an approval and resume after an outage without developers hand-building that machinery each time. Temporal said customers are now asking to run agents that work for days, weeks, or months, and described the new funding as what will help it continue to solve that reliability problem.

According to the announcement, co-founders Abbas and Maxim Fateev were working on the same class of problem long before the current AI boom. At Amazon, Fateev led the messaging infrastructure that helped lay the groundwork for SQS and then led Simple Workflow Service, while Abbas joined the team that brought SWF to the public in 2012. At Microsoft, Abbas co-created the open-source Durable Task Framework, and Microsoft later built Azure Durable Functions on top of it. The two reunited at Uber to build Cadence, which grew to more than 100 internal use cases in three years before going open source in 2017, and they left Uber in 2019 to build Temporal as an independent, open-source platform.

Prior Round and Recent Developments

The Series E follows Temporal’s February 17, 2026 announcement of a $300 million Series D at a $5 billion post-money valuation led by Andreessen Horowitz, with participation from Lightspeed Venture Partners, Sapphire Ventures, Sequoia Capital, Index, Tiger, GIC, Madrona, and Amplify. Raghu Raghuram, the former VMware chief executive, joined as a board observer with that round.

Abbas’s letter also recorded two integrations from the past year. Temporal’s OpenAI Agents SDK integration reached general availability in March 2026 after a summer in public preview, and the company shipped an integration with Vercel’s AI SDK that gives TypeScript developers the same durability guarantees. The letter noted leadership changes as well: Preeti Somal moved from vice president of engineering to senior vice president of engineering, Tim Hughes moved from vice president of sales to senior vice president of sales, Kate Caufield stepped into the senior vice president of people role, and Hien Phan joined as the company’s first vice president of product marketing.

Temporal held its fifth Replay conference at Moscone Center in 2026 and became Crystal Palace’s front-of-shirt partner, a partnership extended to Palace Women, according to the letter. Abbas wrote that he is building toward deeper enterprise investment, continued global build-out, another Replay, and further platform work.