Temporal.Io Raises Series B Funding To Expand Operations
CIOREVIEW >> Digital Transformation >>

Temporal.Io Raises Series B Funding To Expand Operations

By CIOReview | Tuesday, March 29, 2022

Temporal's new capital will be used to expand the team, with a strong emphasis on developer empowerment, extending the robust open-source community, and developing additional features for Temporal's cloud service.

Fremont, CA :“The challenges Samar and I saw at Amazon 15 years ago are the same challenges in front of almost every company today,” states Maxim Fateev, Temporal co-founder and CEO. “The average business application now lives across dozens of stateful servers and services, which has been great for flexibility and scale, but it’s also made applications increasingly brittle and difficult to troubleshoot or enhance.” Temporal, the premier state management systems business, has raised $103 million in Series B funding to address these challenges. The round was headed by Index Venture Capital, with participation from Sequoia Capital, Amplify Partners, Madrona Venture Group, and Addition Ventures. Temporal has received over $120 million since its inception in 2019, and Series B funds will be utilized to expand the team, with a strong emphasis on developer empowerment, increasing the active open source community, and developing new features for Temporal's cloud service.

Maxim Fateev and Samar Abbas, two prominent experts in application state management, developed Temporal. At AWS, Fateev and Abbas oversaw the design and development of Simple Workflow, the first technology to solve the state management problem. Over the previous decade, they designed mission-critical systems such as the Durable Task Framework and Uber Cadence before settling on the ultimate solution: Temporal, an MIT-licensed platform for unifying and maintaining the application state.

"The cloud permanently changed software development," comments Mike Volpi, partner, and co-founder of Index Venture Capital's San Francisco office. "The benefits are tremendous but the cost of cloud application complexity is not sustainable. For more than a year, our conversations with Temporal users have revealed their extraordinary enthusiasm for Temporal's solution. The exponential growth of the community is a testament to Maxim and Samar's unique vision. Temporal has all the right ingredients and we're honored to partner with the company on its journey to become one of the industry's enduring software companies."

To demonstrate these challenges, containerization and service-based architectures necessitate engineers managing state, a time-consuming and error-prone process that shifts the software development focus from business logic to brittle plumbing. Historically, developers relied on database transactions to preserve application consistency, but this is no longer an option for scaled cloud applications. As a result, they are compelled to improvise infrastructure like as queues, databases, CRON jobs, and more in order to provide some semblance of a coherent application experience. Temporal provides a uniform and unified backend for stateful applications, allowing developers to utilize their preferred languages, tool stacks, and deployment environment.