A software-as-a-service (SaaS) platform based in San Francisco and Bengaluru, Postman has announced that it has bagged $225 million in a Series D funding round. With this round, the platform is now valued at $5.6 billion.
The investment round was led by existing investor Insight Partners, a New York-based global private equity and VC firm. Also, it was joined by new investors Coatue, BOND, and Battery Ventures along with other existing investors CRV and Nexus Venture Partners. Besides, DoorDash Product Leader Gokul Rajaram and Freshworks Founder Girish Mathrubootham participated in the round as individual investors. With this round, the total investment raised by Postman is over $430 million across four rounds.
Postman announced that the fresh funds will be used to expand its sales, product, engineering and marketing teams. Also, it will continue to invest in its community of developers worldwide, support students via its innovative API literacy programs, and contribute towards open-source projects to foster a thriving and strong API ecosystem.
World’s leading API platform
APIs are growing in popularity, led by developers adopting the “API-first” model to create new applications faster, modernize legacy architectures, and scale business processes. Also, many organizations are adopting the API-first model in order to build and ship new products faster and create products of higher quality with less code.
This is where Postman continues to experience exponential growth, as APIs have increasingly become the driving force for both software development and business success. Now, Postman has over 17 million users and 500,000 organizations on its platform, which makes it the largest API community in the world. The company simplifies each step of the API lifecycle and streamlines collaboration, thereby enabling users to create better APIs faster.
Postman has grown since last year and has added over 300 employees across 13 countries since early 2020. Besides doubling its headcount, it has added thousands of new customers to its customer base, which includes 98 percent of the Fortune 500 companies such as the likes of Salesforce, Stripe, Kroger, Cisco, PayPal, and Microsoft. Recently, the company announced that its Public API Network is now the world’s largest API hub with over 75,000 APIs shared on it.