API Platform Postman on August 18 said it has raised USD 225 million in a Series D round led by its existing investor Insight Partners. The latest capital exercise also saw the participation of new investors including Coatue, storied Silicon Valley investor Mary Meeker’s Bond Capital and Battery Ventures.
The financing round has raised the valuation of Postman to USD 5.6 billion making it the most valed SaaS firm in India. Postman was valued at $2 billion in June last year when Insight led a $150 million round, moneycontrol.com reported.
Speaking about the funding, Postman CEO and co-founder, Abhinav Asthana, said: “This new round of funding will help Postman dramatically increase the speed of its forward motion. We’re committed to helping developers who are building the future with APIs.”
Founded in Bengaluru in 2014, Postman is an application programming interface (API) platform. APIs are software that act as an intermediary between applications. The San Francisco-based company has over 17 million users and 500,000 organizations on its platform, it said. The latest capital infusion brings total funds raised by Postman to $430 million across four rounds, it said.
Its customers include big names in the software and technology sector including Microsoft Corp, Salesforce.com Inc, digital payments processor Stripe Inc, Cisco Systems Inc and PayPal Holdings Ltd.
“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,” commented Insight Partners Managing Director Jeff Horing. Since the beginning of 2020, Postman has doubled its headcount, adding more than 300 employees across 13 countries.