Bengaluru and San Francisco-based API development firm Postman has raised $225 million in its Series D round led by existing investor Insight Partners and joined by Coatue, Battery Ventures, BOND, CRV, and Nexus Venture Partners.
DoorDash’s product leader Gokul Rajaram and Freshworks’ founder Girish Mathrubootham have also participated in this round in their individual capacity.
The company has now raised more than $430 million across four institutional rounds.
According to the company, it has raised the fresh capital at a valuation of $5.6 billion. This is an almost two-fold jump in the company’s valuation which raised its last round at $2 billion in June last year
Launched by Abhinav Asthana and Abhijit Kane, Postman has more than 17 million users and 500,000 organizations on its platform. Postman’s customers include Salesforce, Stripe, Kroger, Cisco, PayPal, and Microsoft.
Postman will deploy funds to strengthen the developer community, launch API literacy programs and contribute toward open source API projects.
In June, the company announced its Public API Network and claims to be the largest public API hub in the world. It’s a global directory of thousands of public APIs, connecting developers around the world and providing a directory of APIs built for discovery, exploration, and sharing.
Since January 2020, around half a dozen startups have entered into the club of unicorns. The list includes Zenoti, Postman, Innovacer, Chargebee, Browserstack and Mindtickle.
It’s worth noting that Postman has become the highest valued SaaS unicorn followed by Browserstack which recently raised $200 million at a $4 billion valuation.
Zenoti and Mindtickle are valued at $1.5 billion and $1.2 billion respectively.