Funding round
Postman Series B
Postman, which works in API platform development in San Francisco, raised $50M in a Series B round announced on 19 Jun 2019, led by CRV and Nexus Venture Partners, at a $350M post-money valuation. 2 firms took part, 1 of them already investors. It is Postman's first venture round on record.
$50M
Amount raised
$350M
Post-money valuation
2
Investors
2 leads
14%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Postman at $350M after the new money. The $50M bought investors about 14% of the company. It is Postman's first venture round on record, 5 years after it was founded in 2014. It is 12% of the $425M Postman has raised in the venture rounds on record. Postman raised again 12 months later: a Series C round of $150M in Jun 2020, at $2.00B post-money.
Postman's funding rounds
Postman has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
CRV and Nexus Venture Partners led the round. Nexus Venture Partners had backed Postman before.
Lead investors
- CRV backs 177 venture-backed companies new investor
- backs 99 venture-backed companies existing investor
Joined the board: Devdutt Yellurkar (CRV).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing and scaling operations.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
Comparable rounds
How it compares
512 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $21M, and this round was 2.3 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 25 Jun 2019 | $50M | $300M | Kleiner Perkins |
| Tech Companies | 19 Jun 2019 | $50M | not disclosed | Y Combinator |
| Tech Companies | 25 Jun 2019 | $35M | not disclosed | Coatue |
| Tech Companies | 1 Jun 2019 | $33M | $260M | Andreessen Horowitz |
| Tech Companies | 25 Jun 2019 | $30M | $150M | Tiger Global |
| Tech Companies | 12 Jun 2019 | $30M | not disclosed | not named |
| Tech Companies | 3 Jun 2019 | $27M | not disclosed | Redline Capital |
| Tech Companies | 25 Jun 2019 | $25M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Postman raise in its Series B round?
Postman raised $50M in its Series B round, announced in Jun 2019.
Who led Postman's Series B round?
CRV and Nexus Venture Partners led it.
What was Postman's valuation at the Series B round?
$350M post-money.
How does it compare with other Series B rounds in Tech Companies?
512 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $21M, and this round was 2.3 times the median.
Did Postman raise again after this round?
Yes: a Series C round in Jun 2020 of $150M at $2.00B post-money.