Postman Joins Unicorn Club With $150 Mn Series C Funding
Grow Your Business, Not Your Inbox
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
In yet another instance of an Indian SaaS start-up reaching global highs, Application Programming interfaces (API) provider Postman has joined the coveted Unicorn club after raising $ 150 million in a Series C round.
The round was led by Insight Partners and also saw the participation of existing investors CRV and Nexus Venture Partners.
The investment valuing Postman at $2 billion helps it join the league of SaaS unicorns such as Freshworks, Druva, and Icertis.
Postman provides a collaborative platform for developers to test, debug, monitor, and publish APIs, all in one place.
APIs have existed for a long while but have only found prominence in the recent past as more and more companies become open to collaborating on open APIs.
The company boasts that its products are used by more than 500,000 companies globally.
Bengaluru- and San Francisco-based Postman was launched by Abhinav Asthana and Ankit Sobti in 2014.
Commenting on the funding, Abhinav Asthana, CEO and Co-founder of Postman said, “Developers all over the world are rapidly transitioning from the code-first mindset to an API-first mindset with Postman being the center of this revolution.”
The startup has over 11 million users globally, using its services to streamline collaboration and simplify each step associated with building APIs. Its customers also included Fortune 500 and other top companies such as Microsoft, Intuit, Shopify etc.
On this association, Jeff Horing, co-founder and managing director of Insight Partners said, “Modern-day commerce is driven by API-connected, cloud-based software, and Postman is in the absolute vanguard of companies driving faster and more effective development of solutions across a multitude of industries.”
“The combination of the market opportunity, the management team, and Postman’s proven track record of success shows that they are ready to become the software industry’s next great success,” he further added.
Last year in June, the startup had raised $50 million in Series B round. The funding was led by Charles River Ventures (CRV) and involved participation by Nexus Ventures Partners.