Aug 18 (Reuters) – Software company Postman said on Wednesday it was valued at $5.6 billion after raising $225 million in a funding round led by venture capital and private equity firm Insight Partners, which is an existing investor in the company.
Founded in the Indian city of Bengaluru in 2014, Postman is an application programming interface (API) platform. APIs are software that act as an intermediary between applications. The San Francisco-based company has over 17 million users and 500,000 organizations on its platform, it said.
Its customers include big names in the software and technology sector including Microsoft Corp (MSFT.O), Salesforce.com Inc (CRM.N), digital payments processor Stripe Inc, Cisco Systems Inc (CSCO.O) and PayPal Holdings Ltd (PYPL.O).
The latest capital infusion brings total funds raised by Postman to $430 million across four rounds, it said. The new funds will be used to expand the company’s sales, marketing, product and engineering teams, it added.
Since the beginning of 2020, Postman has doubled its headcount, adding more than 300 employees across 13 countries.
Coatue, Battery Ventures, DoorDash Inc’s (DASH.N) product leader Gokul Rajaram and software developer Freshworks’ founder Girish Mathrubootham also participated in the latest funding round.
Reporting by Niket Nishant in Bengaluru; Editing by Muralikumar Anantharaman
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