Nexus-backed Postman snags Series C funding at $2 bn valuation

By Joseph Rai

  • 11 Jun 2020

Postman Inc., which operates an eponymous application programming interface (API) testing platform, has raised $150 million (about Rs 1,138 crore) in a Series C round of funding.

The round values the company at $2 billion, the San Francisco- and Bengaluru-based company said in a statement.

Global venture capital and private equity firm Insight Partners led the investment round. Previous investors CRV and Nexus Venture Partners also put in fresh money.

The development comes less than a year after Postman, previously registered as Postdot Technologies Inc., secured $50 million in a Series B round.

The company was founded in 2014 by Abhinav Asthana, Ankit Sobti and Abhijit Kane. It is a collaboration platform for API development. It is used by more than 11 million developers and 500,000 companies globally.

Postman had first raised $1 million from Nexus in May 2015. In 2016, it raised another $7 million in a Series A round of funding from Nexus, before raising Series B capital last year.

Insight Partners co-founder Jeff Horing said that modern-day commerce is driven by API-connected, cloud-based software, and Postman is in the vanguard of companies driving faster and more effective development of solutions across a multitude of industries.

Founded in 1995, Insight Partners invests in high-growth technology and software companies. It has invested in more than 400 companies including Indian payments startup BharatPe. It has raised more than $30 billion in capital commitments through a series of funds.

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