Software startup Temporal Technologies is in advanced talks to raise fresh capital at a $5 billion valuation, double what it was valued at in a financing three months ago, according to a report published on Wednesday.
Venture capital firm Andreessen Horowitz is in discussions to lead the round, Bloomberg reported, citing people familiar with the matter.
Annual Revenue Crossed $100 Million Last Year
Temporal sells open source products that help companies build and manage complex software applications for customers, including AI firms. The company surpassed $100 million in annual recurring revenue last year, according to the report.
The AI boom is fueling massive fundraising, with billions flowing into AI startups, data centers, and infrastructure.
Seattle-based Temporal did not immediately respond to Benzinga‘s request for comment.
The company had raised $146 million at a $1.72 billion valuation last year in a deal led by Tiger Global. The valuation rose to $2.5 billion in October after a $105 million fundraise, led by Singapore’s sovereign wealth fund GIC.
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