Postman has raised $150 million in its Series C funding

Team StartupcitySoftware as a service (SaaS) start-up Postman has raised $150 million in its Series C funding round, led by Insight Partners at a valuation of $2 billion, catapulting it into the coveted unicorn club. The San Francisco and Bengaluru-based company has raised $208 million in total across various funding rounds. It is understood to have clocked a revenue of $40 million in 2019, according to a person in the know.

Postman is the fourth Indian SaaS company to enter the unicorn club after FreshWorks, Druva and
Icertis. Among the four, Postman has been the fastest to get there, taking just six years to be
valued at more than $1 billion. Postman is a collaboration platform for managing, developing and testing application programme interfaces (APIs). APIs are a set of tools for building applications used by software developers.

"Modern-day commerce is driven by API-connected, cloud-based software, and Postman is in the absolute vanguard of companies driving faster and more effective development of solutions across a multitude of industries," said Jeff Horing, cofounder of Insight Partners. The company said the latest investment will help accelerate growth and maintain leadership in the API development space.

"Developers all over the world are rapidly transitioning from the code-first mindset to an API-first mindset with Postman being the centre of this revolution," said Abhinav Asthana, co-founder and CEO of Postman.

According to the company, over 11 million developers have signed up on its platform from across 500,000 organisations.