Postman is now the highest valued VC funded-SaaS startup in India, after a $225 million fundraise

• Postman has overtaken BrowserStack in valuation with this round.
• The company has now raised more than $430 million across four rounds, and was valued at $350 million in 2019.
• Postman will use the funding to hire across multiple verticals like sales, marketing, product and engineering.

San Francisco and Bengaluru-based software-as-a-service (SaaS) platform Postman has raised $225 million in a Series D round, at valuation at $5.6 billion. The round was led by existing investor Insight Partners.

New investors like Coatue, Battery Ventures, BOND, DoorDash product leader Gokul Rajaram and Freshworks founder Girish Mathrubootham also participated in the round, along with existing investors CRV and Nexus Venture Partners.

Founded in 2014 by Abhinav Asthana, Abhijit Kane, and Ankit Sobti, Postman helps developers and companies simplify their application programming interface (API) workflow. It also enables the companies to streamline collaboration and create API faster. The company has over 17 million developers and 500,000 organisations on its platform.

Postman will now use this Series D funding to hire across multiple verticals like sales, marketing, product and engineering. The company will also invest in its community of developers across the globe, support students through innovative APIs and contribute towards open source projects.

The company has now raised more than $430 million across four rounds. Postman had raised $150 million in 2020 at a valuation of $2 billion valuation in its Series C investment round led by Insight Partners. It was valued at $350 million in 2019.

In June 2020, BrowserStack was positioned as the highest valued venture capital (VC) funded SaaS company in India. The company had raised $200 million in a Series B round led by US-based investment firm BOND, at a valuation of $4 billion. Postman has overtaken BrowserStack in valuation with this round.

Other Indian highest valued SaaS startups are Zoho, Freshworks, Icertis, Druva, Postman, Zenoti and ChargeBee in the ‘unicorn club’. A unicorn is a privately valued company with a valuation of over $1 billion. Zoho is not venture capital-backed and its valuation is not publicly known.

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