Jan 14 (Reuters) – Software startup Temporal Technologies is in advanced talks to raise fresh capital at a $5 billion valuation, double of what it was valued at in a financing three months ago, Bloomberg News reported on Wednesday, citing people familiar with the matter. Venture firm Andreessen Horowitz is in discussions to lead the […]
Science
Temporal in talks to double valuation to $5 billion, Bloomberg News reports
Audio By Carbonatix
Jan 14 (Reuters) – Software startup Temporal Technologies is in advanced talks to raise fresh capital at a $5 billion valuation, double of what it was valued at in a financing three months ago, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Venture firm Andreessen Horowitz is in discussions to lead the round, the report said.
The valuation signals that funding appetite for artificial intelligence-related firms has remained strong. Temporal sells products that let companies build and manage complex software applications to customers including AI firms.
The business surpassed $100 million in annual recurring revenue last year, the Bloomberg report said.
Temporal did not immediately respond to a Reuters request for comment.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Sahal Muhammed)