API developing platform Postman raises $225 mn; now valued at $5.6 bn

Application program interface (API) development platform Postman has closed its Series D investment round of $225 million. The company is now valued at $5.6 billion. The funding round was led by Insight Partners, while three new investors including Coatue, Battery Ventures and BOND participated too. Existing investors such as CRV and Nexus Venture Partners also joined in this round. DoorDash Product Leader Gokul Rajaram and Freshworks founder Girish Mathrubootham joined as individual investors.

In June last year, the platform secured $150 million in a Series C investment round led by Insight Partners, as well as CRV and Nexus Venture Partners. It was then valued at $2 billion.

The platform said that there are 17 million developers on the Postman API Platform. The app has been downloaded more than 60 million times so far. The Postman Public API Network became the world’s largest API hub and has quickly grown to more than 20,000 public workspaces from organisations such as Mercedes-Benz, Microsoft Graph and Notion. The network allows developers, teams, and companies around the world to work together on APIs.

Postman has enterprise customers like Salesforce, Stripe, Kroger, Cisco, and PayPal.

“The entire team here at Postman shares a big, broad, enthusiastic vision for the API-first world, and we feel that we’re still in the early stages of executing on that vision,” said founder and CEO Abhinav Asthana.

“APIs have quickly become the fundamental building blocks of software used by developers in every industry, in every country across the globe and Postman has firmly established itself as the preferred platform for developers,” said Insight Partners Managing Director Jeff Horing.

Postman started after Asthana set out to create a tool to simplify the API testing process in 2012. He gradually recruited two of his former colleagues Ankit Sobti and Abhijit Kane to create Postman Inc. Postman transformed from an early stage to a Series A funded startup in 2014.

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