Postman API platform, raised $225 million in a Series D round on August 18 at a valuation of $5.6 billion, making it the most valuable SaaS firm to come out of India. The platform in total has raised over $430 million in four rounds.
According to Postman, the round was headed by existing investor Insight Partners and joined by new investors Coatue, Battery Ventures, and BOND, as well as previous investors CRV and Nexus Venture Partners. When Insight led a $150 million round in June of last year, the API platform was valued at $2 billion.
“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,” said Insight Partners Managing Director Jeff Horing.
Plans of Postman API Platform
Postman plans to use the Series D funding to grow its sales, marketing, product, and technical teams. Coders who design, test, and alter application program interfaces will benefit from the Postman API platform. It offers an easy-to-use and intuitive user interface that allows users to test APIs without having to write code, which was previously the norm.
Postman CEO and Co-founder Abhinav Asthana said, “We are thrilled to have the support of our community and customers who continue to propel us forward, and 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.”
Since the beginning of 2020, Postman has gained over 300 employees across 13 countries and has almost doubled its workforce. The platform has also added thousands of new customers to a customer base that includes 98 percent of the Fortune 500 and companies like Salesforce, Stripe, Kroger, Cisco, PayPal, and Microsoft.
