Temporal Technologies raises $146 million at $1.7 billion valuation

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(Reuters) -Temporal Technologies said on Monday it has raised $146 million in a fresh funding round led by investment firm Tiger Global, valuing the software firm at $1.72 billion.

The new capital will go into product development for Temporal Cloud and the company said it will continue to invest in research and development for artificial intelligence use.

Venture capital funding has remained muted in the early months of 2025, with financing for a few AI startups contributing to a potential rebound.

Temporal’s last financing round was in February 2022, where it raised $100 million at a valuation of a little more than $1.5 billion. Monday’s round keeps the software company’s valuation almost flat.

The round, which brings the company’s total funding to $350 million, also saw participation from names such as Index Ventures, MongoDB Ventures and Sequoia Capital.

Sequoia led Temporal’s series A funding back in 2020.

Temporal helps businesses build and manage complex software applications.

The Seattle-based company, which was founded in 2019, has seen a 600% growth in developer adoption in the past 18 months, it said.

Temporal’s services are used by companies such as Netflix, online retailer DoorDash, chipmaker Nvidia and accounting giant Deloitte, according to its website.

The company’s technology, which is used by thousands of developers globally, is delivered open source under a Massachusetts Institute of Technology license.

(Reporting by Pritam Biswas in Bengaluru; Editing by Vijay Kishore and Shounak Dasgupta)