API platform Postman raises $225m at $5.6bn valuation

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Postman

Global API platform Postman announced that it has raised $225 million in a Series D funding round led by private equity and venture capital firm Insight Partners.

The round, which valued the company at $5.6 billion, was also joined by new investors Coatue, Battery Ventures, and BOND, along with existing investors CRV and Nexus Venture Partners. The fundraising brings Postman’s total funds raised to date to $430 million.

Postman is used by more than 17 million developers and 500,000 organisations worldwide for building and using APIs, making it home to the largest API community in the world.

The company said it will use the Series D funds to expand its teams in the areas of sales, marketing, product, and engineering.

In addition, the company said it 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.

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.