Postman becomes most valued Indian SaaS startup after $225M funding
Bengaluru: SaaS startup Postman has raised $225 million in a brand new investment spherical led with the aid of using current investor Insight Partners together with participation of recent backers along with Coatue, storied Silicon Valley investor Mary Meeker’s Bond Capital and Battery Ventures. The organization is now valued at $5.6 billion.
This makes the seven-12 months-antique startup the maximum valued software-as-a-provider company from India, overtaking Browser Stack, which changed into valued at $four billion in June. SaaS posterchild Fresh works, that’s making ready to move public within side the US, is presently valued at $3.5 billion.
Founded in Bengaluru in 2014, Postman changed into valued at $2 billion a 12 months in the past after it raised $one hundred fifty million in investment from Insight Partners and others. Prior to the contemporary investment, Postman had raised $208 million in total. Interestingly, Bond Capital led the $two hundred million investment spherical in Browser Stack in June.
Postman is a device for the advent of APIs that allows interactions among apps in addition to functionalities inside apps. Postman’s current buyers Nexus Venture Partners and CRV have additionally participated within side the new financing.
It changed into began out with the aid of using BITS Pilani graduates Abhinav Asthana and Abhijit Kane together with NSIT Delhi’s Ankit Sobti. Asthana and Sobti have formerly labored collectively in Yahoo India.
The organization plans to apply the brand new capital for increasing its crew and put money into its network of developers. It has round 17 million customers and 500,000 establishments on its platform.
The new funding in Postman comes at a time whilst SaaS startups from India are seeing extended investor hobby from international buyers. Earlier this month, SoftBank led a $a hundred million spherical in Mind tickle, making it the 8th Indian SaaS unicorn. Zenoti, which have become a unicorn past due remaining 12 months raised an additional $eighty million led with the aid of using TPG with a 50% soar in valuation at $1.5 billion.