SaaS startup joins unicorn fleet
Application programme interface developer, Postman has raised US$ 150 million in an investment round spearheaded by Insight PArtners, a US based venture capital. The investment round also saw the participation of CRV & Nexus Venture PArtners.
Postman, a six year old Software as a Service (SaaS) enterprise, plans to invest the capital in doubling its team. The startup helps various stakeholders such as those involved in project management, developer operations and engineering to collaborate in software development.
“Developers all over the world are rapidly transitioning from the code-first mindset to an API-first mindset with Postman being the centre of this revolution,” stated Abhinav Asthana, co-founder and CEO of Postman. It is believed that such models generally have recurring revenue and do not burn cash like consumer internet firms, making them a more reliable bet.