[Funding alert] API Development platform Postman closes Series B round with $50M
Postman, the Bengaluru-based platform for API development, announced it has completed its Series B funding round with $50 million, led by CRV and Nexus Venture Partners. The company had earlier raised Seed funding of $1 million in 2015, and Series A funding of $7 million from Nexus VP in 2016. With the fresh round, Devdutt Yellurkar, General Partner at CRV, will join the board of directors at Postman.
After starting it as a pet project, ex-Yahoo employees Abhijit Kane, Abhinav Asthana, and Ankit Sobti built Postman to make it one of the most-popular apps on the Chrome store, which also evolved to be a robust native app for Mac, Windows, and Linux.
Postman is currently the only complete API development environment, and its popularity has soared because of its simple and intuitive UI that allows developers to manage every stage of the API lifecycle.
From left to right: Abhijit Kane, Abhinav Asthana and Ankit Sobti, and Cooper at the bottom.
“Postman has created a powerful collaboration platform for the entire API development lifecycle. CRV is deeply involved in the API and micro-services space, and we have been tracking Postman from its early days in Bengaluru. We are looking forward to working with Abhinav, Ankit, Abhijit, and the rest of the team at Postman as they build a foundational software company,” said Devdutt Yellurkar, General Partner at CRV.
Jishnu Bhattacharjee, the Managing Director at Nexus Venture Partners, said in a press statement:
“As software development moves from a code-first to an API-first approach, Postman is evolving as the must-have companion for every developer. It has been a real pleasure to have backed Postman from day one. We are super excited about the journey ahead."
Founded in 2014, Postman now caters to more than seven million users, and helps support API development at more than 300,000 companies across the world. The company intends to use the new funding to accelerate its product roadmap, expand its commitment to helping companies leverage the platform across the enterprise, and increase customer support and success throughout the community.
Abhinav Asthana, CEO and Co-founder, Postman, said,
“APIs are the building blocks of effective software – so while software might be eating the world, we know that APIs are eating software. Innovation in APIs will drive the future of software development, and this funding will further accelerate Postman’s growth in the API ecosystem.”
Launched as a product in November 2015, Postman has pioneered the transition of software approach from code-first to API-first. The company has offices in Bengaluru and San Fransisco.