Summary:
Temporal achieved a $2.5 billion valuation after a $105 million secondary round led by GIC.
The startup's open-source microservices orchestration platform helps developers improve scalability and reliability.
Key leadership additions include John Bonney as CFO and Jonathan Chadwick joining the board.
Founded in 2019 by ex-Uber engineers, Temporal has raised $350 million in total funding and employs over 300 people.
Temporal, a developer tools startup based in Seattle, has closed a $105 million secondary transaction led by GIC, with participation from Tiger Global and Index Ventures. This deal has pushed the company's valuation to $2.5 billion, up from its previous valuation of $1.72 billion following a $146 million Series C round earlier this year.
A secondary raise involves shareholders selling existing shares to new or existing investors, indicating strong ongoing investor confidence without a primary capital infusion.
Founded in 2019, Temporal offers an open-source microservices orchestration platform designed to replace ad-hoc systems, helping developers reduce time spent on scalability and reliability issues. The company also provides Temporal Cloud as a managed service.
Leadership Updates
In conjunction with the funding, Temporal announced key leadership changes:
- John Bonney has been appointed as Chief Financial Officer, bringing experience from his previous roles as CFO at Harness and senior finance positions at FinancialForce and SAP.
- Jonathan Chadwick, a veteran of VMware with board seats at companies like Confluent, Databricks, ServiceNow, and Zoom, has joined Temporal's board of directors.
Founders' Background
The co-founders, Samar Abbas and Maxim Fateev, previously collaborated at Uber, where they developed an internal open-source orchestration engine called Cadence. Inspired by its success, they launched Temporal. Fateev has also worked at Amazon, Microsoft, and Google, while Abbas has experience at Microsoft and Amazon. Abbas assumed the CEO role from Fateev last year, with Fateev now serving as CTO.
CEO Samar Abbas commented, "This tender allows long-tenured teammates to realize some of the value they've created and reflects continued conviction from our existing investors. We're staying focused on solving reliability at scale—software that runs, recovers, and keeps going in production."
Temporal currently employs over 300 people, and its total funding to date stands at $350 million.
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