Bengaluru-based SaaS company Postman’s revenue increased 35% to Rs 173.15 crore in FY23. It saw over Rs 172 crore coming in from operations. It saw a revenue of Rs 128.2 crore the previous fiscal year.
Founded in 2014 by Abhinav Asthana, Ankit Sobti, and Abhijit Kane, Postman is an API development firm that offers a comprehensive set of tools to accelerate the API lifecycle, including design, testing, documentation, and mocking.
It additionally provides an API repository for storing and collaborating on API artifacts, workspaces for organizing API work and collaboration, and governance features to ensure APIs meet organizational standards. The platform has a user base of over 25 million developers and 500,000 organizations across the globe.
Postman saw losses amounting to Rs 16.6 crore in FY23, 1.3X higher than the preceding year. The company’s EBITDA margin stood at 14.63% while the ROCE was 42.97%.
The company’s expenses ballooned 1.4X to Rs 150.8 crore. While over Rs 130 crore was spent on employee benefits, a little over Rs 1 crore came out to be legal and professional expenses. The previous year, Postman spent over Rs 100 crore of the total expenses on employee benefits.
The SaaS based platform has raised a total of Rs 3221 crore over 6 funding rounds. The latest fundraise was held on August 2021 and saw existing investor Insight Partners leading the round. CRV, Nexus Venture Partners, and Coatue were among those who participated.
Since its inception, Postman has made only one acquisition. It took control of Akita Software late last year for an undisclosed amount.
It is currently up against the likes of Canonic, Agiliq, and Hoppscotch.