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SaaS start-up, Postman, closed its $225 million Series D funding round led by Insight Partners. New investors such as Coatue, Battery Ventures, and BOND, along with existing investors CRV and Nexus Venture Partners participated in the round. Postman is a collaboration tool for application programming interfaces (API) development.
DoorDash Product Leader, Gokul Rajaram, and Freshworks Founder, Girish Mathrubootham, also participated in the round as individual investors. The company has now raised over $430 million across four rounds and is valued at $5.6 billion.
Expand teams
Postman will use the Series D capital to expand its teams in the areas of sales, marketing, product, and engineering. In addition, the company will continue to invest in its community of developers across the globe, support students through innovative API literacy programs, and contribute toward open source projects to foster a strong and thriving API ecosystem.
Also see: Gaming platform Zupee closes Series B at over $500 million valuation
Postman CEO and co-founder, Abhinav Asthana, said, “This new round of funding will help Postman dramatically increase the speed of its forward motion. We’re committed to helping developers who are building the future with APIs.”
Exponential growth
As APIs increasingly become the driving force for software development and business growth in this decade, Postman claims to be witnessing an exponential growth. Today, Postman claims to have more than 17 million users and 500,000 organisations on its platform.
“APIs have quickly become the fundamental building blocks of software used by developers in every industry, in every country across the globe. Postman has the opportunity to become a key pillar in how enterprises build, deliver products, and seamlessly enable partnerships across the ecosystem,” said Insight Partners Managing Director, Jeff Horing.
Postman has added more than 300 employees across 13 countries since the beginning of 2020, more than doubling its headcount. It also added thousands of new customers that include 98 per cent of the Fortune 500 and the likes of Salesforce, Stripe, Kroger, Cisco, PayPal, and Microsoft.
The company recently announced that its Public API Network has more than 75,000 APIs shared on the network. To support the global growth of APIs across all industries, Postman has released various capabilities such as Postman on the web, public workspaces, the Private API Network, the Public API Network, API security validations, OpenAPI validations, support for protocols like WebSockets and SOAP, user groups, and SCIM integration, along with other improvements.
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