Powered by SaaS Industry
At a Glance
Postman has raised $225M in Series D funding led by Insight Partners and becomes India’s most valued SaaS unicorn, overtaking BrowserStack.
Postman becomes the most valued Indian SaaS unicorn with a valuation jump to $5.6 billion, raising $225 million in a Series D funding round led by its existing investor Insight Partners, the company announced on an official blog.
The previous round of funding for Postman came in June this year, where it bagged $150 million and entered the Indian SaaS unicorn club with a valuation of $2 billion. To date, the company has raised over $430 million, as per Crunchbase. Three new and other existing investors- Coatue, Battery Ventures, BOND and CRV, and Nexus Venture Partners – participated in the Series D round.
Additionally, Gokul Rajaram, product leader at DoorDash and Girish Mathrubootham, CEO of Freshworks, joined as individual investors in the Series D funding round. Postman said that it would use the proceeds from the funding to hire across multiple verticals like sales marketing, product and engineering. The company would also invest in its developer community across the globe, support students through Application Program Interface (API) and contribute to open source projects.
“We are thrilled to have the support of our community and customers who continue to propel us forward, and this new round of funding will help Postman dramatically increase the speed of that forward motion. We’re committed to helping developers who are building the future with APIs,”Abhinav Asthana, co-founder and CEO of Postman.
Jeff Horing, managing director of Insight Partners, stated that APIs had become the fundamental building blocks of software used by developers in every industry. Postman firmly established itself as the preferred platform for developers, he said.
“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,”Jeff Horing