Temporal Technologies has raised over $200 million since 2019, and boasts being used by Netflix, Doordash, Snap, Box, Stripe, Hashicorp, Coinbase and others. By providing an open-source way to write and run reliable cloud applications Temporal Technologies has created a name for themselves and even had a valuation of $1.5 billion, garnering interest and acceptance into the Prime Unicorn Index.
Brief financing history: The company raised their Seed round at the end of 2019, by March of 2021 Temporal raised another $18+ million for Series A. Fast forward 9 months, Temporal announced a Series B round led by Index Ventures and that the Company’s valuation is north of $1.5 billion.
December 2022 Markdown: The Prime Unicorn Index had Temporal Technologies valued at $1.58 billion which even matches what the company stated in their press release at the time. One year later and consistent with the rest of the market, Temporal Technologies filed a document that caused the Prime Unicorn Index to mark Temporal’s valuation down by 47%. The Company has since extended their Series B, by raising an additional $76 million (all terms and prices stayed the same). The Prime Unicorn Index has the post money valuation around $880 million, which will unfortunately jeopardize their unicorn status and placement within the Index at next reconstitution.
The Prime Unicorn Index is currently tracking 160 companies with valuations of $1 billion or more to be considered into the index. Components must be headquartered in the U.S. and be privately held. For more information on the Prime Unicorn Index, please visit primeunicornindex.com.