Artificial intelligence 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 as co-lead investors. SV Angel and T. Rowe Price Associates advisory accounts also participated, while Andreessen Horowitz, Sequoia Capital and GIC continued investing. Founded in 2019, Temporal develops open-source software that helps applications, including AI agents, recover from failures. The company plans to use the funding to expand globally and deepen platform research and development. Temporal has 570 employees and an annualized revenue run rate exceeding $250 million, more than double a year earlier. Its clients include OpenAI, Snap, Nvidia, Netflix and JPMorgan Chase. The company raised $300 million at a $5 billion valuation in February.