Temporal Technologies, the US-based creators of the open source Durable Execution platform Temporal.io and the enterprise-grade managed service Temporal Cloud, announced Wednesday a secondary transaction valuing the company at $2.5 billion.

The $105 million investor-led tender offer was led by GIC with participation from Tiger Global and Index Ventures, Temporal Technologies said in a statement.

The milestone follows Temporal’s $146 million Series C announced earlier this year at a $1.72 billion post-money valuation.

“This tender lets long-tenured teammates realize some of the value they’ve created and reflects continued conviction from our existing investors,

“We’re grateful for the support and staying focused on solving reliability at scale—software that runs, recovers, and keeps going in production,” said Samar Abbas, co-founder and Chief Executive Officer of Temporal Technologies.

Temporal Technologies 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.

Chadwick has decades of experience scaling category-defining software companies, including prior roles as Chief Financial Officer, Chief Operating Officer, and Executive Vice President of VMware, Inc.

He currently serves on the boards of Confluent, Databricks, Notion, ServiceNow, Zoom, and more.

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