3/31/2023 0 Comments Postman variables![]() With our broad base, I think we are sufficiently present in a lot of geographies. “The overall growth (of APIs) is pretty global. Going forward, Postman aims to invest in Japan, a geography it touts as the largest market for software buyers. Postman, too, gained from the SaaS bull run when its valuation rose from $2 billion in 2020 to $5.6 billion a year later, as it picked up $225 million in a fresh funding round led by existing investor, New York-headquartered Insight Partners, in August 2021. While Freshworks listed on US exchanges in 2021, several of the other software startups successfully rode the funding wave and cornered large rounds when capital was inexpensive. It has warned the industry about elongated sales cycles and additional deal approval layers, particularly in enterprise sales.Ĭloser home, at Freshworks, management expects sales momentum to remain challenging going forward.įreshworks’ chief financial officer Tyler Sloat told analysts earlier this month that the company did “not expect the expansion motion to slow down the way it did throughout the year,” and the company expects it to be a tough environment for a while.Īmong other global SaaS majors, Zendesk has also slashed 300 jobs. Global SaaS bellwether Salesforce, which recently laid off 8,000 people or 10% of its total workforce, has been noting measured customer buying behaviour since July 2022. ![]() Over the last two years, these companies had bulked their sales and marketing functions on account of higher demand and adoption of software products. The cut in enterprise costs has hurt several homegrown SaaS enterprises, including ChargeBee, Exotel and Freshworks, which had fired sales and marketing personnel due to the hard reset of markets and enterprises moving towards profitability overgrowth at all costs. “Our business model is pretty resilient.” There is also much more focus on productivity and developer experience and that plays to our stance,” Asthana said, referring to the impact of the SaaS growth slowdown. Of course, across the board for all the software (solutions), there is much more scrutiny, but APIs are mission critical and are not going away. ![]() “Investments in APIs continue to be a strong theme. ![]()
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