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HomeBusinessNexus Backed Postman Closes $225 Mn Series D At $5.6 Bn Valuation

Nexus Backed Postman Closes $225 Mn Series D At $5.6 Bn Valuation

The round was led by existing investor, New York-based global private equity and venture capital firm Insight Partners, and joined by new investors Coatue, Battery Ventures, and BOND, along with existing investors CRV and Nexus Venture Partners

Postman, the world’s leading API platform, today announced that it has secured $225 million in a Series D round, placing its valuation at $5.6 billion. The round was led by existing investor, New York-based global private equity and venture capital firm Insight Partners, and joined by new investors Coatue, Battery Ventures, and BOND, along with existing investors CRV and Nexus Venture Partners. In addition, DoorDash Product Leader Gokul Rajaram and Freshworks Founder Girish Mathrubootham have also joined as individual investors. The company has now raised more than $430 million across four rounds.

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.

Postman continues to experience exponential growth, as APIs increasingly become the driving force for software development and business success in this decade. Today, Postman has more than 17 million users and 500,000 organizations on its platform, making it home to the largest API community in the world. 

APIs are growing in popularity, led by developers who are adopting the “API-first” model to build new applications faster, modernize legacy architectures, and scale business processes. Organizations are also adopting the API-first model to build and ship new products faster and create products of higher quality with less code.

“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,” commented Insight Partners Managing Director Jeff Horing. “Postman has the opportunity to become a key pillar of how enterprises build, deliver products, and seamlessly enable partnerships across the ecosystem. Their continued, rapid expansion and strong management team point to a future for Postman with virtually unlimited possibilities.” 

Postman has added more than 300 employees across 13 countries since the beginning of 2020, more than doubling its headcount, as well as adding thousands of new customers to a customer base that includes 98% of the Fortune 500 and the likes of Salesforce, Stripe, Kroger, Cisco, PayPal, and Microsoft. The company recently announced that its Public API Network is now the largest API hub in the world, with more than 75,000 APIs shared on the network.

Source: Business World

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