Postman Closes $150 Million Series C Funding at a $2 Billion Valuation
SAN FRANCISCO--(BUSINESS WIRE)--Postman, the leading platform for API development, announced today that it has secured $150 million in a Series C investment round led by Insight Partners, a global venture capital and private equity firm. Insight Partners joins previous investors CRV and Nexus Venture Partners in this round.
APIs are the fundamental building blocks of all software in the world. Today’s complex software ecosystems make the rapid creation and seamless deployment of APIs an industry imperative. Used by more than 500,000 companies globally, the Postman API Platform helps them accelerate their pace and effectiveness of software development.
Postman is leading the shift to an API-first approach which means building APIs at the very beginning of the development cycle and collaborating closely between all stakeholders like product management, DevOps, and quality engineering. According to Enterprise Strategy Group, companies using the Postman API Platform show vast improvements to API development, collaboration, and testing. These improvements include API development that’s five times faster, collaboration that’s ten times more effective, and the ability to find and fix bugs four times faster.
According to CEO and co-founder Abhinav Asthana, “Developers all over the world are rapidly transitioning from the code-first mindset to an API-first mindset with Postman being the center of this revolution.”
More than 11 million users around the world rely on Postman to streamline collaboration and simplify each step associated with building APIs, and the company’s solution is used by 98% of the Fortune 500 to create better APIs more quickly. A winner of the Gartner Peer Insights Customer Choice Award, the Postman collaboration platform is used by top companies such as Intuit, Microsoft, and Shopify.
“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, co-founder and managing director of Insight Partners. “The combination of the market opportunity, the management team, and Postman’s proven track record of success shows that they are ready to become the software industry’s next great success.”
Atlassian Engineering Manager Jeff Gibson, a Postman customer, said, “At Atlassian, the Postman platform enables us to quickly onboard new hires and has increased our overall developer productivity. The ability to collaborate while building new services and integrating third-party capabilities has made life easier for our developers. Adopting Postman was a smart decision that has delivered real ROI."
Postman is the leading collaboration platform for API development, used by more than 11 million developers and 500,000 companies worldwide. Postman is an elegant, flexible platform that is used to build connected software via APIs—quickly, easily, and accurately. Postman is headquartered in San Francisco and has an office in Bangalore, where the company was founded. Postman is privately held, with funding from Insight Partners, Nexus Venture Partners, and CRV. Learn more at http://www.postman.com or connect with Postman on Twitter via @getpostman.