API Platform Postman raises $225 million at valuation of $5.6 billion, becomes most valued SaaS startup

API Platform Postman on August 18 said it has raised $225 million in a Series D round, at a valuation of $5.6 billion, making it the most valued SaaS startup to emerge from India.

The Bengaluru and San Francisco based firm said the round was led by existing investor Insight Partners, and joined by new investors Coatue, Battery Ventures, and BOND, along with existing investors CRV and Nexus Venture Partners.

In addition, DoorDash Product Leader Gokul Rajaram and Freshworks Founder Girish Mathrubootham have also joined as individual investors. The company has now raised more than $430 million across four rounds.

Postman will use the Series D capital to expand its teams in the areas of sales, marketing, product, and engineering.

“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,” said Insight Partners Managing Director Jeff Horing.

Postman has added more than 300 employees across 13 countries since the beginning of 2020, more than doubling its headcount, as well as adding thousands of new customers to a customer base that includes 98% of the Fortune 500 and the likes of Salesforce, Stripe, Kroger, Cisco, PayPal, and Microsoft.

Postman CEO and Co-founder Abhinav Asthana said, “We are thrilled to have the support of our community and customers who continue to propel us forward, and this new round of funding will help Postman dramatically increase the speed of that forward motion. We’re committed to helping developers who are building the future with APIs.”