Singapore’s sovereign wealth fund GIC has led a $105-million secondary transaction in US-based Temporal Technologies, valuing the workflow orchestration startup at $2.5 billion, according to an announcement.
The investor-led tender offer also saw participation from Tiger Global and Index Ventures. The milestone follows Temporal’s $146-million Series C announced earlier this year at a $1.72 billion post-money valuation.
Temporal is the creator of the open source durable execution platform Temporal.io and the enterprise-grade managed service Temporal Cloud.
“This tender lets long-tenured teammates realize some of the value they’ve created and reflects continued conviction from our existing investors,” said Samar Abbas, co-founder and CEO of Temporal. “We’re grateful for the support and staying focused on solving reliability at scale—software that runs, recovers, and keeps going in production.”
Temporal also announced the appointments of John Bonney as Chief Financial Officer and Jonathan Chadwick to the Board of Directors.
Bonney brings extensive experience guiding high-growth SaaS and cloud companies through scale and capital expansion. He most recently served as Chief Financial Officer of Harness, and previously held senior finance leadership roles at companies such as FinancialForce and SAP.
Most recently, GIC also led a $1.6-billion investment in a funding round in US-based Vantage Data Centers, which develops and operates large-scale, sustainable data centre campuses for cloud providers, hyperscalers, and enterprise clients.
GIC in July joined a consortium led by Swiss private markets investment firm Partners Group to acquire Germany’s Techem for an enterprise value of €6.7 billion ($7.8 billion). Techem provides submetering and energy efficiency services to property managers and multi-tenant residential building owners.
