Thursday, July 18, 2024

SaaS Unicorn Postman Acquires Andreessen Horowitz-Backed Orbit

San Francisco-based software startup Postman lately acquired community growth platform Orbit. The financial terms of the deal remains secret, but the move is a significant step to enhance the capabilities of the company and expand its reach within the developer community.

Orbit was founded in 2019 and is supported by prominent investors like Andreessen Horowitz and Coatue. It empowers developer companies to manage and nurture their communities across various platforms. It plays an important role in strengthening collaboration between API builders and developers.

Postman was founded in 2014 by Abhinav Asthana, Ankit Sobti and Abhijit Kane. It is a widely known name in the industry for its API development platform.

With the integration of Orbit, Postman believes to elevate the dialogue between API creators and developers. This will further enable better alignment with user needs and simultaneously facilitate broader audience outreach.

Postman CEO Abhinav Asthana highlighted the importance of the acquisition and said it will strengthen their ability to empower developers as well as encourage innovation within the industry.

The journey of Postman to becoming a unicorn started in 2020 when it secured $150 million in a Series C funding round that was led by Insight Partners. It was a significant milestone for the rapid growth of the company. It thereafter positioned itself as a key player in the API development landscape. The early investors of Postman were Nexus Venture Partners and Charles River Ventures (CRV).

With further evolution of technology and more connectivity in the real world, the demand for platforms like Postman and Orbit play will increase. It is believed the company will shape the future of software development. The acquisition speaks about new possibilities for collaboration and growth within the developer community. It highlights the transformative potential of strategic partnerships in the tech industry.

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