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Temporal co-founders Samar Abbas (left), CTO, and Maxim Fateev, CEO. (Temporal Photo)
Temporal, a Seattle startup that helps companies write and run cloud applications, raised $146 million. The company is now valued at $1.72 billion — up slightly from 2022, when it raised $103 million at a $1.5 billion valuation, making it one of a handful of Seattle-area unicorns.
What Temporal does: Temporal’s open-source microservices orchestration platform replaces ad-hoc systems to help developers reduce time spent on scalability and reliability. It’s used by “hundreds and thousands” of developers globally. Temporal sells Temporal Cloud as a managed service.
Customers: Snap, Netflix, Hashicorp, Box, Datadog.
Revenue: Not disclosed, but up 4.4X in the past 18 months.
Quotable: “This funding allows us to advance our mission of making execution reliability the default, whether for traditional enterprises or the next generation of AI-driven workloads,” Temporal CTO and co-founders Samar Abbas said in a statement. “While many are rushing to build single-purpose tools, our general-use architecture is proving more effective for AI workflows while working within existing systems.”
Founders: Abbas and co-founder/CEO Maxim Fateev previously worked together at Uber and helped build an internal open-source orchestration engine called Cadence. The reception to that idea sparked them to launch Temporal. Fateev previously worked at Amazon, Microsoft, and Google. Abbas also worked at Microsoft and Amazon.
Investors in the round: Tiger Global led the round. Other backers include StepStone Group, Amplify Partners, Index Ventures, MongoDB Ventures, Sequoia Capital, Conversion Capital, Hanwha Next Generation Opportunity Fund, and 137 Ventures.
Other details:
Total funding to date is $350 million. Temporal raised $75 million in 2023; its valuation was “just north” of $1.5 billion at the time.
Temporal has around 250 employees. It recently hired software veteran Jim Cyb as president and added Sahir Azam, chief product officer at MongoDB, as its first independent board member.
