Funding round
Postman Series D
Postman, which works in API platform development in San Francisco, raised $225M in a Series D round announced on 18 Aug 2021, led by Insight Partners, at a $5.60B post-money valuation. 6 firms took part, 3 of them already investors. It is Postman's third venture round on record; the one before was a Series C in Jun 2020.
$225M
Amount raised
$5.60B
Post-money valuation
$5.38B pre-money
6
Investors
1 lead
2.8x
Step-up from the Series C
$2.00B in Jun 2020
4.0%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Postman at $5.60B after the new money, 2.8 times the $2.00B of its Series C (Jun 2020). The $225M bought investors about 4.0% of the company. It came 14 months after Postman's Series C. It is 53% of the $425M Postman has raised in the venture rounds on record. No later venture round is on record for Postman.
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 5 other firms. Insight Partners, CRV and Nexus Venture Partners had backed Postman before.
Lead investor
- Insight Partners backs 548 venture-backed companies existing investor
Also in the round
- Coatue backs 229 venture-backed companies new investor
- Battery Ventures backs 215 venture-backed companies new investor
- BOND backs 91 venture-backed companies new investor
- 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 hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
242 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 2.3 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| RingCentral Tech Companies | 1 Aug 2021 | $450M | $7.75B | Arena Holdings and Altimeter |
| Talkdesk Tech Companies | 12 Aug 2021 | $230M | $10.00B | Whale Rock Capital Management and Transpose Platform |
| Tech Companies | 17 Aug 2021 | $162M | $2.70B | DST Global |
| Tech Companies | 17 Aug 2021 | $130M | $1.50B | Insight Partners |
| Tech Companies | 16 Aug 2021 | $120M | not disclosed | SoftBank Vision Fund |
| Tech Companies | 4 Aug 2021 | $100M | $1.80B | Permira |
| Tech Companies | 11 Aug 2021 | $100M | $1.10B | Akkadian Venture Capital and Mubadala Capital |
| Tech Companies | 25 Aug 2021 | $78M | not disclosed | G2 Venture Partners |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Postman raise in its Series D round?
Postman raised $225M in its Series D round, announced in Aug 2021.
Who led Postman's Series D round?
Insight Partners led it, with Coatue, Battery Ventures, BOND, CRV and Nexus Venture Partners.
What was Postman's valuation at the Series D round?
$5.60B post-money ($5.38B pre-money).
How does it compare with other Series D rounds in Tech Companies?
242 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 2.3 times the median.