Postman raises $50 million to develop its API growth platform
Postman, a five-year-old startup that’s making an attempt to easily growth, exams, and administration of APIs by way of its platform, has raised $50 million in a brand new spherical to scale its enterprise.
The Series B for the startup, that started its journey in India, was led by Charles River Ventures (CRV) and included participation from present investor Nexus Venture Partners . The startup, with workplaces in India and San Francisco, closed its Series A financing round four years ago and has raised $57 million so far.
Postman affords a growth atmosphere which a developer or a agency may use to construct, publish, doc, design, monitor, take a look at, and debug their APIs. Postman, like some other startups comparable to RapidAPI, additionally maintains a market to supply APIs for fast integration with different common companies.
The startup was co-founded by Abhinav Asthana, a former intern at Yahoo . Asthana was pissed off with how APIs had been an afterthought for a lot of builders as they normally bought round to constructing them within the eleventh hour. Additionally, builders had been counting on their very own workflows and there was no organized platform that could possibly be utilized by many, he defined in an interview with TechCrunch.
Even massive software program corporations haven’t seemed into this house but, and lots of have as a substitute change into a buyer of Postman. “We are solving a fundamental problem for the technology landscape. Big companies tend to be slower as they have many other things on their plate,” stated Asthana.
Five years later, Postman has grown considerably. More than 7 million customers and 300,000 firms together with Microsoft, Twitter, BestBuy, AMC Theaters, Paypal, Shopify, BigCommerce, and DocuSign at this time use Postman’s platform.
The trendy software program growth depends closely on APIs as extra companies start to speak with each other. According to analysis agency Gartner, more than 65% of world infrastructure service suppliers’ income will likely be generated by way of companies enabled by APIs by 2023, up from 15% in 2018.
Asthana stated Postman intends to make use of the recent capital to scale its startup, merchandise, and develop its crew. “We are scaling rapidly across all dimensions. There are many use cases that we still want to address over the coming months. We will also experiment with sales and invest in improving user experience,” he added.
Postman affords a few of its companies in restricted capability at no cost to customers. For relaxation, it fees between $eight to $18 per consumer to its prospects. That’s how the corporate generates income. Asthana declined to share the monetary efficiency of the startup, however stated its buyer primarily based was “growing phenomenally.”
Postman stated CRV General Partner Devdutt Yellurkar has joined its board of administrators.