March 31 (Reuters) - Temporal Technologies said on

Monday it has raised $146 million in a fresh funding round led

by investment firm Tiger Global, valuing the software firm at

$1.72 billion.

The new capital will go into product development for

Temporal Cloud and the company said it will continue to invest

in research and development for artificial intelligence use.

Venture capital funding has remained muted in the early

months of 2025, with financing for a few AI startups

contributing to a potential rebound.

Temporal's last financing round was in February 2022, where

it raised $100 million at a valuation of a little more than $1.5

billion. Monday's round keeps the software company's valuation

almost flat.

The round, which brings the company's total funding to $350

million, also saw participation from names such as Index

Ventures, MongoDB Ventures and Sequoia Capital.

Sequoia led Temporal's series A funding back in 2020.

Temporal helps businesses build and manage complex software

applications.

The Seattle-based company, which was founded in 2019, has

seen a 600% growth in developer adoption in the past 18 months,

it said.

Temporal's services are used by companies such as Netflix ( NFLX )

, online retailer DoorDash ( DASH ), chipmaker Nvidia ( NVDA )

and accounting giant Deloitte, according to its

website.

The company's technology, which is used by thousands of

developers globally, is delivered open source under a

Massachusetts Institute of Technology license.