AI startup Temporal has raised $550 million in late-stage funding, more than doubling its valuation to $12.55 billion within seven months. Lightspeed Venture Partners led the round, with Wellington Management, Goldman Sachs Alternatives’ Growth Equity, and Tiger Global serving as co-lead investors. SV Angel and T. Rowe Price Associates advisory accounts also participated, while existing investors Andreessen Horowitz, Sequoia Capital, and GIC continued to invest. Temporal will use the funding to expand its global operations and deepen platform research and development. Founded in 2019, the company develops open-source software that helps applications, including AI agents, recover from failures. Its clients include OpenAI, Snap, Nvidia, Netflix, and JPMorgan Chase. Temporal has 570 employees and an annualized revenue run rate exceeding $250 million, more than double the year-earlier level. The company raised $300 million at a $5 billion valuation in February.