- Postman, a Saas Startup, has raised $225 million in a funding round led by Insight Partners (existing investor) at a valuation of US $5.6 Billion.
- Other investors include Coatue, Battery Ventures, BOND, existing investors CRV and Nexus Venture Partners. Individual investors Gokul Rajaram of DoorDash and Girish Mathrubootham of Freshworks have also joined.
- Founded in Bangalore in 2015, Postman is headquartered in San Francisco and has an office in Bangalore. Postman is a web-based platform that allows businesses and developers to design, develop and manage Application Programming Interfaces (APIs).
- Postman has added more than 300 employees across 13 countries since the beginning of 2020, doubling its headcount. Its clientele include 98% of the Fortune 500 and the likes of Salesforce, Stripe, Kroger, Cisco, PayPal, and Microsoft.
- Developers are adopting the API-first model to build new applications faster, modernize legacy architectures, and scale business processes. Organizations are also adopting the API-first model to build and ship new products faster and create products of higher quality with less code.
- APIs have become the fundamental building blocks of software and Postman has established itself as a preferred platform for developers. It recently announced that its Public API Network is now the largest API hub in the world, with more than 75,000 APIs shared on the network.
- Postman intends to utilize the funds to expand its team, invest in its community of developers, support students through API literacy programs and contribute to open source projects to nurture API ecosystem.
- Insight Partner Jeff Horing commented that Postman has the opportunity to become a key pillar of how enterprises build, deliver products, and seamlessly enable partnerships across the ecosystem.
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