India's VC-backed Postman raises $150m Series C

Existing investors Charles River Ventures and Nexus Venture Partners also contributed to the fundraise, according to a statement. It follows a $50 million Series B round last year. 

Founded in 2014, Postman operates an online platform designed to enable collaboration on software development, especially the creation of application programming interfaces (APIs) through which app creators can seamlessly integrate services from other providers. Postman says the platform is used by more than 11 million developers and 500,000 companies worldwide.

Postman CEO Abhinav Asthana said in a blog post that the company would use the fresh capital to accelerate its product development pipeline and expand its headcount. Jishnu Bhattacharjee, a managing director at Nexus, outlined in a separate post that Postman’s accessible interface makes it easy for beginners or non-programmers to write software applications.  

Jeff Horing, a managing director at Insight, added: “Modern-day commerce is driven by API-connected, cloud-based software, and Postman is in the absolute vanguard of companies driving faster and more effective development of solutions across a multitude of industries.” 

According to industry research firm Gartner, other companies that offer similar solutions include Amazon Web Services, API Fortress, Microsoft, Oracle, and SmartBear.  

US-based Insight has backed nearly 400 start-ups worldwide since its founding in 1995, focusing on growth-stage companies. Its Asia portfolio includes two Indian companies – QR-based payment service provider BharatPe and recurring billing management platform Chargebee.

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• Topics
• Technology
• Expansion
• South Asia
• India
• Growth capital