Temporal raises $550 million and Factory $200 million as agent tooling draws capital

Temporal, a Seattle company whose open-source Durable Execution software lets long-running applications and AI agents recover from failures without custom recovery code, said Lightspeed led the round, with Wellington Management, Goldman Sachs Alternatives' growth equity unit and Tiger Global as co-leads and T. Rowe Price and SV Angel participating. The valuation is up from $5 billion at a Series D in February. Temporal reported an annualized revenue run rate above $250 million, more than 4,300 paying customers including OpenAI, Snap and Nvidia, and a staff of 570.

Factory, a San Francisco startup founded in 2023 by Matan Grinberg and Eno Reyes, sells coding agents it calls Droids to enterprise engineering teams. It named Blackstone, Khosla Ventures, Sequoia Capital, Insight Partners, Evantic Capital, Sound Ventures, NEA, Mantis VC and Clearlake as investors and said total funding exceeds $400 million. Reuters reported that Factory was valued at $1.5 billion in a $150 million round in April and competes with Cognition and Cursor. The company listed Nvidia, Adobe, Palo Alto Networks, Royal Bank of Canada and T-Mobile among its customers and said the money will go to research, product and global go-to-market.