Postman is the fourth Indian SaaS company to enter the unicorn club after FreshWorks, Druva, and Icertis. Among the four, Postman has been the fastest to get there, taking just six years to be valued at more than $1 billion.

Postman is a collaboration platform for managing, developing, and testing application program interfaces (APIs). APIs are a set of tools for building applications used by software developers. The company’s latest investment round comes amid a global pandemic, but also at a time when Indian SaaS firms are increasingly seen as value creators. Investors such as Tiger Global, which has backed some of India’s largest unicorns Flipkart and Ola, are also sinking their teeth into the space.

The San Francisco and Bengaluru-based company has raised $208 million in total across various funding rounds. It is understood to have clocked a revenue of $40 million in 2019, according to a person in the know. Industry watchers said that Postman’s huge valuation stemmed from the fact that it was the largest player with few competitors in what is a fast-growing space globally.

Source Credit: Economic Times India