Postman, an application interface (API) development platform has raised $225 million at a valuation of $5.6 billion, post a year after it made it to the unicorn club with a valuation of $2 billion.
The Series D funding round was led by New York-based Insight Partners, Coatue, Battery Ventures, and Bond. Angel investors such as DoorDash product leader Gokul Rajaram and Freshworks Girish Mathrubootham, along with existing investors such as CRV and Nexus Ventures participated in the round.
Postman will use the raised capital for expanding its teams in the areas of sales, marketing, product, and engineering. It will remain to invest in its community of developers across the world, support students with new API learning programs, and contribute to open-source projects.
Founded in 2014 by Abhinav Asthana, Abhijit Kane, and Ankit Sobti, the platform helps developers and companies in building new applications through the application programming interface (API) workflow.
Postman CEO and cofounder Abhinav Asthana said that the startup is committed to helping developers who are building the future with APIs.
In 2020, the platform entered the unicorn club after raising $ 150 Mn in the Series C round led by Insight Partners at a valuation of $2 Bn. Since the beginning, Postman has added over 300 employees across 13 countries.
Postman currently has more than 17 Mn users and 500,000 organizations on its platform. 98% of the start-up clients are Fortune 500 companies like Salesforce, Stripe, Kroger, Cisco, PayPal, and Microsoft.
Recently the company also announced its Public API Network is at the moment the largest API network in the world, with more than 75,000 shared APIs on the network.
Jeff Horing, managing director at Insight Partners said, “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”.
Additionally, to expand the API community across all industries, Postman has come up with new features like the Postman on the web, social workplaces, Private API Network, Public API Network, API security validations, and OpenAPI validations, among others.