API platform Postman secured $225 Million in Series D funding round

Postman, a California-based API platform, has now secured $225 million in a Series D funding round at a valuation of $5.6 billion.

Postman is founded by Abhinav Asthana. The startup provides a platform for building and using APIs, which is used by more than 15 million developers and 500000 organizations across the globe. The company simplifies each step of the API lifecycle and streamlines collaboration, which enables users to create and manage different APIs in one place.

Insight Partners Managing Director Jeff Horing, said, "APIs have quickly become the fundamental building blocks of software used by developers in every industry, in every country across the globe—and Postman has firmly established itself as the preferred platform for developers. Postman has the opportunity to become a key pillar of how enterprises build, deliver products, and seamlessly enable partnerships across the ecosystem. Their continued, rapid expansion and strong management team point to a future for Postman with virtually unlimited possibilities."

Coatue General Partner David Schneider, said, "Coatue was impressed by Postman’s ability to solve challenges faced by developers worldwide who need to build software faster than ever. We also liked Postman's work towards providing management teams, regardless of size, proper visibility into their API landscape and ensuring that increasingly lean teams can effectively maintain APIs. We are proud to support Postman’s future plans and partner with them as they execute their vision to serve a rapidly expanding developer workforce and expand further into new roles and areas with plans for exciting future growth."

The round was backed by Coatue, Insight Partners, BOND, Battery Ventures, Nexus Venture Partners, and CRV with individual investors like Freshworks founder Girish Mathrubootham and DoorDash Product Leader Gokul Rajaram.

The company, as of now, has plans to use the new funds to expand its team in the areas of product, sales, marketing, and engineering; contribute towards the open-source projects; support students via innovative API programs and continue to invest in its community of developers worldwide.