AI startup Temporal raises $550 million, valuation reaches $12.55 billion

Odaily News: AI startup Temporal announced it has completed a $550 million late-stage funding round, with its valuation more than doubling within seven months to $12.55 billion. 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. Existing investors Andreessen Horowitz (a16z), Sequoia Capital, and GIC continued to participate. The funds will be used to expand global operations and deepen platform research and development. (Reuters)