Bengaluru and San Francisco-based startup Postman, which provides application program interfaces (APIs) to developers and businesses globally, is new mining in the field of enterprise technology. The company has entered the Holiday Unicorn Club in the Series C round of investment. Launched in 2014 by Abhinav Asthana and Ankit Sobti, Postman has raised $ 150 million at a $ 2 million valuation. The round was led by venture capital and private equity firm Insight Partners, while existing investors including CRV and Nexus Venture Partners joined the round. The postman connects software / enterprise startups from India such as Zoho, Freshworks, Druva, Icertis, InMobi, etc. affecting valuations of billions of dollars.
Co-founder and co-founder of Postman, Abhinav Asthana said, “Developers around the world are rapidly transitioning from a code-first mentality to an API-first mentality, with Postman being the center of this revolution.” The startup has more than 11 million users globally using its services to streamline collaboration and simplify each step associated with creating APIs. Its clients include Microsoft, such as Fortune 500 and other companies, Intuit, Shopify etc. The company withdrew its round-up in May 2015, followed by Series A in October 2016 and Series B in June 2019, valued at $ 50 million, as per Crunchbase. . With the latest round the total investment raised by the postman was around $ 205 million. Postman’s valuations have jumped 5.7X from about $ 350 million last year.
The postman provides APIs to develop software in collaboration with teams such as product management, software development and IT operations and quality engineering. The startup bills customers from zero dollars to $ 12 and $ 24 per month based on the subscription plan. There is also an enterprise-grade plan for large-scale API development.
“Modern day commerce is powered by API-Connect, cloud-based software, and Postman is in the absolute vanguard of companies driving faster and more effective growth of solutions across a multitude of industries,” Jeff Horing, Co-Founder and Managing Insight Director of Partners. According to Traxxn, Kong, Cloud Elements, Jitterbit, OpenLegacy, RapidAPI, Transposit, Cypress, Apollo GraphQL etc. are some of the leading companies globally in the API space. “Modern day commerce is powered by API-Connect, cloud-based software, and Postman is in the absolute vanguard of companies driving faster and more effective growth of solutions across a multitude of industries,” Jeff Horing, Co-Founder and Managing Insight Director of Partners.