Software firm Postman on Wednesday said it has raised $225 million (about Rs 1,671.2 crore) in funding round led by existing investor, Insight Partners, that valued the tech firm at $5.6 billion.
The Series-D funding round saw new investors Coatue, Battery Ventures, and BOND, as well as existing investors CRV and Nexus Venture Partners participating, according to a statement.
In addition, DoorDash Product Leader Gokul Rajaram and Freshworks founder Girish Mathrubootham have also joined as individual investors, it added.
Postman has now raised more than $430 million across four rounds. Headquartered in San Francisco, Postman has an office in Bengaluru, where it was founded.
The company will use the capital to expand its teams in the areas of sales, marketing, product, and engineering, the statement said.
In addition, it will continue to invest in its community of developers across the globe, support students through innovative API literacy programmes, and contribute toward open source projects to foster a strong and thriving API ecosystem, it added.
Application program interface or API is a set of functions and procedures for building software.
"Postman continues to experience exponential growth, as APIs increasingly become the driving force for software development and business success in this decade.
"Today, Postman has more than 17 million users and 5,00,000 organisations on its platform, making it home to the largest API community in the world," the statement said.
Insight Partners Managing Director Jeff Horing said APIs have quickly become the fundamental building blocks of software used by developers in every industry, in every country across the globe - and Postman has firmly established itself as the preferred platform for developers.
Postman has added more than 300 employees across 13 countries since the beginning of 2020, more than doubling its headcount, as well as adding thousands of new customers.
"We are thrilled to have the support of our community and customers who continue to propel us forward, and this new round of funding will help Postman dramatically increase the speed of that forward motion.
"We're committed to helping developers who are building the future with APIs," Postman CEO and co-founder Abhinav Asthana said.