pplication programme interface (API) growth platform Postman on Wednesday stated it has raised $225 million at a valuation of $5.6 billion, slightly over a 12 months after it entered the unicorn membership with a valuation of $2 billion.
The Sequence D funding spherical was led by enterprise capital agency Perception Companions, an present investor based mostly in New York.
This makes Postman India’s highest valued software-as-a-service (SaaS) platform, overtaking the likes of Browserstack ($4 billion), Freshworks ($3.5 billion) and Icertis ($2.8 billion). The corporate had final raised $150 million in a Sequence C spherical in June 2020.
New traders Coatue Administration LLC and Battery Ventures, together with present traders CRV and Nexus Enterprise Companions additionally participated within the spherical. The spherical additionally noticed investments from DoorDash’s product chief Gokul Rajaram; and Freshworks’ founder Girish Mathrubootham.
Postman’s fund-raise indicators the pattern of world traders flocking to entities that are established of their sectors. Over the course of this 12 months, firms akin to DailyHunt, Infra.Market, Cred, and Digit have greater than doubled their valuations inside months of elevating their earlier rounds.
Postman stated the brand new funds will assist it increase its workforce gross sales, advertising and marketing, product and engineering. The corporate can even proceed to put money into its builders worldwide, assist college students via progressive API literacy programmes, and contribute towards open supply tasks to foster a robust and thriving API ecosystem.
“We’re thrilled to have the assist of our neighborhood and clients who proceed to propel us ahead, and this new spherical of funding will assist Postman dramatically improve the velocity of that ahead movement. We’re dedicated to serving to builders who’re constructing the long run with APIs,” stated Abhinav Asthana, co-founder and chief govt officer (CEO), Postman.
The seven-year previous startup is an enterprise SaaS platform for API growth, which helps stakeholders together with product administration, developer operations and engineering to collaborate to speed up the software program growth course of.
At current, Postman has greater than 17 million customers and 500,000 organizations on its platform.
“APIs have rapidly change into the elemental constructing blocks of software program utilized by builders in each trade, in each nation throughout the globe—and Postman has firmly established itself as the popular platform for builders. Postman has the chance to change into a key pillar of how enterprises construct, ship merchandise, and seamlessly allow partnerships,” stated Jeff Horing, managing director, Perception Companions.