Postman has recently raised $225 million in its funding round which was led by existing investor Insight Partners. The funding was also backed by Coatue, storied Silicon Valley investor Mary Meeker’s Bond Capital and Battery Ventures. With the completion of the recent funding round, the company is now valued at $5.6 billion. The existing investors Nexus Venture Partners and CRV also participated in this round.
Postman is a software-as-a-service startup and it is currently the most valued among such startups in India. This seven-year-old startup has overtaken BrowserStack which is valued at $4 billion. Postman was able to collect $150 million in funding last year and had reached a valuation of $2 billion then. Before the recent funding, the company collected $208 million in total. Bond Capital which had invested in Postman, had led the funding round of BrowserStack in June.
Postman basically provides a tool for the creation of APIs. These APIs are what allow interaction between and within apps. It was co-founded by BITS Pilani graduates Abhinav Asthana and Abhijit Kane and NSIT Delhi’s Ankit Sobti.
The new funds will be utilized by the company to expand its team and invest in its community of developers. The company claims around 17 million users along with almost 500,000 organisations on its platform.