API-based startup Postman bags $50 million from CRV, Nexus Venture Partners

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Source: Google

Postman, a Bengaluru-based platform for API development has bagged $50 million (approx ₹350 crore) in fresh funding led by CRV along with participation from Nexus Venture Partners. The company aims to use the funds in order to accelerate the product roadmap and grow its community across enterprise users.

“APIs are the building blocks of effective software, so while software might be eating the world, we know that APIs are eating software,” Abhinav Asthana, co-founder and CEO at Postman said.

“Innovation in APIs will drive the future of software development, and this funding will further accelerate Postman’s growth in the API ecosystem,” he added.

The company claims to have over 7 million users on its platform across 300,000 firms.

Postman was founded in 2014 by Abhijit Kane, Abhinav Asthana and Ankit Sobti when the trio found it extremely difficult to keep track of API updates. It is the San-Francisco and Bengaluru-based collaboration platform.

The first iteration of the code that turned into Postman was written by Asthana and Sobti, which they posted on the Google Chrome Webstore as a plugin.

On the other hand, an API is a form of code that specifies how two apps can exchange data and what sort of data may be requested and sent between the two.

“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 Bangalore,” said Devdutt Yellurkar, general partner at CRV.

“Over the past couple of years, Postman has emerged as a true API development and testing platform,” Yellurkar added.

At present, Postman’s clientele include several large scale companies Microsoft, Twitter, Paypal and Adobe.


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