Jun 15, 2020

Startup Spotlight: Postman’s API development platform

Technology
William Smith
2 min
San Francisco-based Postman operates a collaborative platform for API development
San Francisco-based Postman operates a collaborative platform for API development...

San Francisco-based Postman operates a collaborative platform for API development.

APIs, or application programming interfaces, are the go-betweens that let different applications communicate and interact, enabling many of the connected experiences we take for granted every day.

Postman’s API platform possessed features such as automated testing and monitoring, alongside workspaces to improve collaboration and facilitate version control.

The company said its Postman API Platform was used by over 500,000 companies worldwide, alongside 11 million developers, who have created 250 million APIs. Some of its customers include image hosting site imgur, Cisco Devnet, AMC and ecommerce facilitator shopify, with 98% of the Fortune 500 using its solution.

Since its foundation in 2014, the company has raised $208mn in funding. Its latest Series C round, announced on June 11, alone raised $150mn from lead investor Insight Partners alongside Nexus Venture Partners and CRV.

In a press release, the company’s CEO and co-founder Abhinav Asthana, said: “Developers all over the world are rapidly transitioning from the code-first mindset to an API-first mindset with Postman being the center of this revolution.” At the time of the company’s Series B, he previously said: “APIs are the building blocks of effective software – so while software might be eating the world, we know that APIs are eating software. Innovation in APIs will drive the future of software development, and this funding will further accelerate Postman’s growth in the API ecosystem.”

With the latest injection of money, the firm is now valued at $2bn, highlighting the ever increasing importance of APIs for connected services, from social media to open banking.

“Modern-day commerce is driven by API-connected, cloud-based software, and Postman is in the absolute vanguard of companies driving faster and more effective development of solutions across a multitude of industries,” said Jeff Horing, co-founder and managing director of Insight Partners. “The combination of the market opportunity, the management team, and Postman’s proven track record of success shows that they are ready to become the software industry’s next great success.”
 

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Jul 7, 2021

ServiceNow pumps millions into EU service compliance

ServiceNow
Compliance
EU
Schrems II
2 min
ServiceNow
ServiceNow has announced a multimillion euro investment in EU services, providing customers even greater trust, choice, and control over their data

ServiceNow, the digital workflow company, has announced a multimillion euro investment to help EU customers meet compliance requirements.

The legal, technical and organisational safeguards will help companies to comply with the the Schrems II judgment and European Data Protection Board (EDPB) Recommendations issued in June 2021.

ServiceNow’s investment means all EU-hosted data will be exclusively handled within the EU, and the cloud-hosted digital workflow provider claims its solution will come “without impact on current delivery and service”.

ServiceNow upgrade: free of charge

There will be no cost for current customers to opt in to the data compliance solution, even though ServiceNow is investing an unspecified multimillion euro sum and hiring more than 80 new staff across the bloc.

Mark Cockerill, vice president legal, EMEA and global head of privacy at ServiceNow, said: “With any regulation change, cloud services companies have a choice. They can adopt a ‘wait and see’ approach or get proactive and help customers and partners innovate. At ServiceNow we are on the front foot, continually investing in our customers, allowing them to operate with the highest level of choice and control over their EU data.

ServiceNow upgrade: ‘peace of mind’

“Our new EU-centric service delivery model will give our current customers and partners peace of mind. For customers and partners operating in highly regulated industries, or in the public sector, or those that have yet to make the switch to the cloud, this model gives them certainty and simplicity when selecting the cloud service that best suits their needs.”

Carla Arend, lead analyst, cloud in europe for IDC, said, “The Schrems II ruling has led European organizations to revisit their cloud-related data protection policies and processes when it comes to international data transfers through cloud services.

“Contractual, privacy, and security safeguards and the assurance that data will be kept and handled in the EU help European organizations to comply with European data protection laws while taking advantage of global cloud platforms. Vendors, such as ServiceNow, that invest to support their customers in response to this ruling are providing essential choice to their customers.”

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