Software company Postman said on Wednesday it was valued at $5.6 billion after raising $225 million in a funding round led by venture capital and private equity firm Insight Partners, which is an existing investor in the company.

Founded in the Indian city of Bengaluru in 2014, Postman is an application programming interface (API) platform. APIs are software that act as an intermediary between applications. The San Francisco-based company has over 17 million users and 500,000 organizations on its platform, it said.

Its customers include big names in the software and technology sector including Microsoft Corp, Inc, digital payments processor Stripe Inc, Cisco Systems Inc and PayPal Holdings Ltd.

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Source: Reuters

By Niket Nishant