Inside Temporal's journey to a $12.55B valuation, and its bet on building a backbone for AI agents

Bellevue-based startup Temporal, which builds infrastructure for reliable task execution and AI agents, raised $550M led by Lightspeed at a $12.55B valuation — double its February figure. Annual revenue exceeded $250M, with 4,300+ customers including OpenAI, Nvidia, Netflix, Snap and JPMorgan Chase.

• $550M round led by Lightspeed, valuation rose from $5B to $12.55B
• Annual revenue exceeded $250M, total raised $1.2B
• 18 of the 30 largest AI companies use Temporal
• Company has 570 employees, double the number a year ago