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Postman raises $50 mn from CRV, Nexus Venture Partners

PTI:  June 19, 2019

New Delhi: Postman, a collaboration platform for API development, Wednesday said it has raised USD 50 million (about Rs 348 crore) in a funding round led by CRV, which also involved participation of Nexus Venture Partners.

Post the series B financing round, CRV General Partner Devdutt Yellurkar has joined Postman's board of directors, a statement said.

The company plans to use the new funding to accelerate its product roadmap and increase customer support throughout the Postman community, it said.

API or application programming interface is a set of functions and procedures for building software.

"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," Postman CEO and co-founder Abhinav Asthana said.

Founded in 2014, Postman serves more than seven million users and helps to support API development at more than 300,000 companies worldwide. It is headquartered in San Francisco and has an office in Bengaluru, where it was founded.

Nexus Venture Partners had led Postman's October 2015 seed funding, and series A round later that totalled USD 7 million, it added.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.