AI startup Temporal raises $550 million in funding at a $12.55 billion valuation

Odaily reports: AI startup Temporal announced the completion of $550 million in late-stage funding, with its valuation more than doubling to $12.55 billion within seven months. The round was led by Lightspeed Venture Partners, with Wellington Management, Goldman Sachs Alternatives' Growth Equity, and Tiger Global participating as co-leads, while SV Angel and advisory accounts of T. Rowe Price Associates also joined. Andreessen Horowitz (a16z), Sequoia Capital, and GIC continued to participate as existing investors. The funds will be used to expand global operations and deepen platform research and development. (Reuters)