Postman secures $225 million, valuation hits $5.6 billion
Postman, an API development major, has raised $225 million in a Series D round, at a valuation of $5.6 billion. The funding round is led by global private equity and venture capital firm Insight Partners, and joined by new investors Coatue, Battery Ventures, and Bond Capital along with existing investors CRV and Nexus Venture Partners.
Alongside, DoorDash product leader Gokul Rajaram and Freshworks founder Girish Mathrubootham have participated as individual investors. The company has now obtained over $430 million across four rounds.
Post the latest funding, Postman has turned as the most valued SaaS (Software as a Service) startup from India, surpassing BrowserStack, that has been valued at $4 billion in June after Bond Capital led a $200 million funding round in the firm.
This is a 180 percent surge in valuation for Postman from $2 billion a year ago after it raised $150 million from Insight Partners and others.
Postman intends to use the fund to spread out its teams in the areas of sales, marketing, product, and engineering. Furthermore, the company would continue to invest in its community of developers across the globe, support students through innovative API literacy programs, and contribute toward open-source projects to foster a strong and thriving API ecosystem.
Abhinav Asthana, CEO and Co-founder, Postman says, "This new round of funding will help Postman dramatically increase the speed of that forward motion. We’re committed to helping developers who are building the future with APIs.”
Presently, Postman has over 17 million users and 5,00,000 organisations on its platform, that include Salesforce, Stripe, Kroger, Microsoft, Cisco and PayPal, making it home to the largest API community in the world. The company was established in 2014 by Abhinav Asthana, Ankit Sobti, and Abhijit Kane.
Last year, Postman had entered the unicorn club after its series C funding round of $150 million at an estimated valuation of around $2 billion.
Insight Partners, Managing Director, Jeff Horing says, “APIs have quickly become the fundamental building blocks of software used by developers in every industry, in every country across the globe—and Postman has firmly established itself as the preferred platform for developers.”