API Platform Postman raises USD225 million at a valuation of USD5.6 billion, becomes the most valued SaaS startup

API Platform Postman has stated that it has raised USD225 million in a Series D round, at a valuation of USD5.6 billion, making it the most valued SaaS startup to emerge from India. The Bengaluru and San Francisco-based firm stated the round was led by existing investor Insight Partners and joined by new investors Coatue, Battery Ventures, BOND, and existing investors CRV and Nexus Venture Partners. Postman was valued at USD2 billion in June last year when Insight led a USD150 million round.

Besides this, DoorDash Product Leader Gokul Rajaram and Freshworks Founder Girish Mathrubootham have also entered as individual investors. The company has now raised more than USD430 million across four rounds. Postman will use the Series D capital to extend its sales, marketing, product, and engineering teams. Postman targets coders who create, test, and modify application program interfaces (APIs). It has an understandable and intuitive user interface and helps test APIs without making code for testing, which was the norm earlier.

Since the beginning of 2020, Postman has added over 300 new employees across 13 countries, more than twice its workforce and adding hundreds of new clients to a customer base that includes 98 percent of the Fortune 500 and companies like Salesforce, Stripe, Kroger, Cisco, PayPal, and Microsoft. Postman’s funding is the latest example of the software-as-a-service boom underway. These companies can go global from day one, have large companies as paying companies and be more profitable than their consumer internet peers.