- Leading API collaboration platform company Postman announced it raised $50 million in Series B
- This round of funding was led by CRV with participation from Nexus Venture Partners
Postman, a leading API collaboration platform company, announced it closed $50 million in Series B funding. This round of funding was led by CRV and it included participation from Nexus Venture Partners. In conjunction with this funding round, CRV General Partner Devdutt Yellurkar is joining the Postman board of directors.
Since launching in 2014, Postman has grown dramatically and has become the best-known collaboration platform for API development. Now the company serves over 7 million users and supports API development at over 300,000 companies worldwide. Postman is now based in San Francisco with an office in Bangalore.
Postman was founded by CEO Abhinav Asthana, CTO Ankit Sobti, and Abhijit Kane.
“APIs are the building blocks of effective software – so while software might be eating the world, we know that APIs are eating software. Innovation in APIs will drive the future of software development, and this funding will further accelerate Postman’s growth in the API ecosystem,” said Asthana.
With this round of funding, Postman is going to accelerate its product roadmap, expand its commitment to help companies leverage its platform across the enterprise, and increase customer support and success throughout the Postman community.
“Postman has created a powerful collaboration platform for the entire API development lifecycle. CRV is deeply involved in the API and microservices space, and we have been tracking Postman from its early days in Bangalore,” added Yellurkar. “Over the past couple of years, Postman has emerged as a true API development and testing platform and has a very fast-growing developer community. We are looking forward to working with Abhinav, Ankit, Abhijit and the rest of the team at Postman as they build a foundational software company.”
According to TechCrunch, Postman offers its services in limited capacity for free for users. And the increased tiers costs between $8 and $18 per user. Asthana did not provide TechCrunch with specific revenue figures, but said that the customer base was “growing phenomenally.”
“As software development moves from a code-first to an API-first approach, Postman is evolving as the must-have companion for every developer. It has been a real pleasure to have backed Postman from day one. We are super excited about the journey ahead,” explained Nexus Venture Partners managing director and Postman board member Jishnu Bhattacharjee.
Here is a video of how Postman works:
“Postman Enterprise allows for great collaboration,” commented Jason Bonds — the VP of Ping Intelligence at Ping Identity. “It allows for our team to physically be global, but work like we are in one room.”
Some of Postman’s customers include Adobe, Mulesoft, Microsoft, Square, Twitter, Imgur, Best Buy, PayPal, Shopify, BigCommerce, and DocuSign.
“Software development is a team sport. With Postman Enterprise, we can collaborate across all of our teams in a way we weren’t able to before,” noted SVP of product development at Accolade Drew Garner. “Postman Enterprise gives us transparency throughout the entire API development process.”
