Funding round
Postman Series C
Postman, which works in API platform development in San Francisco, raised $150M in a Series C round announced on 11 Jun 2020, led by Insight Partners, at a $2.00B post-money valuation. 3 firms took part, 2 of them already investors. It is Postman's second venture round on record; the one before was a Series B in Jun 2019.
$150M
Amount raised
$2.00B
Post-money valuation
3
Investors
1 lead
5.7x
Step-up from the Series B
$350M in Jun 2019
7.5%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Postman at $2.00B after the new money, 5.7 times the $350M of its Series B (Jun 2019). The $150M bought investors about 7.5% of the company. It came 12 months after Postman's Series B. It is 35% of the $425M Postman has raised in the venture rounds on record. Postman raised again 14 months later: a Series D round of $225M in Aug 2021, at $5.60B post-money.
Postman's funding rounds
Postman has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
Insight Partners led the round with 2 other firms. CRV and Nexus Venture Partners had backed Postman before.
Lead investor
- Insight Partners backs 548 venture-backed companies new investor
Also in the round
- CRV backs 177 venture-backed companies existing investor
- backs 99 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
327 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 3.0 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 22 Jun 2020 | $102M | not disclosed | Andreessen Horowitz |
| Fivetran Tech Companies | 30 Jun 2020 | $100M | $1.20B | Andreessen Horowitz and General Catalyst |
| Tech Companies | 23 Jun 2020 | $79M | not disclosed | Index Ventures |
| Tech Companies | 15 Jun 2020 | $75M | not disclosed | SK Telecom |
| Tech Companies | 9 Jun 2020 | $60M | not disclosed | Andreessen Horowitz and F-Prime Capital |
| Tech Companies | 4 Jun 2020 | $60M | not disclosed | Bessemer Venture Partners |
| Tech Companies | 24 Jun 2020 | $55M | not disclosed | Sapphire Ventures |
| Tech Companies | 23 Jun 2020 | $40M | not disclosed | Intel Capital |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Postman raise in its Series C round?
Postman raised $150M in its Series C round, announced in Jun 2020.
Who led Postman's Series C round?
Insight Partners led it, with CRV and Nexus Venture Partners.
What was Postman's valuation at the Series C round?
$2.00B post-money.
How does it compare with other Series C rounds in Tech Companies?
327 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 3.0 times the median.
Did Postman raise again after this round?
Yes: a Series D round in Aug 2021 of $225M at $5.60B post-money.