Temporal, a company providing open-source technology for software development, secured a $146 million Series C funding round spearheaded by Tiger Global. The raise totals Temporal’s venture funding at $350 million and brings its valuation to $1.72 billion. The company works to streamline the execution of complex workflows, granting developers more time to focus on writing business logic than dealing with infrastructure complexities.
The announcement follows a significant period of growth for Temporal. The company recorded a 600 percent growth in open-source developer adoption over the last 18 months. Temporal has also recorded a 4.4x increase in revenue growth within the same time frame, and more than 2,500 enterprise customers have adopted its Temporal Cloud managed service solution.
Its latest funding round will allow it to accelerate product development for Temporal Cloud and expand the reach of its durable execution platform. Currently catering to payments, e-commerce, air travel workloads, Temporal plans to expand its platform into AI use cases. The company will invest its new funding in go-to-market programs as well as R&D to enhance reliability, security and usability.
