CrowdStrike said in a statement Friday that 90% of the company's funds are "held in large global institutions."
GroupSense CEO Minder told Axios his company was able to access its SVB funds on Monday and moved them to a larger banking institution."If the government hadn't come forward and backstopped like they did, it would have made our life pretty difficult," Minder told Axios.While it's unclear how many cyber companies were SVB customers, some notable names have been linked to the firm,Cloud-based data analytics firm Sumo Logic had a credit line open with SVB and borrowed $24.
Boston-based Rapid7 was also a longtime customer of the bank: In March 2020, Rapid7 CEO Corey Thomas wasNeither company responded to Axios' requests for comment.Minder is now worried about the long-term impact SVB's collapse will have on available venture capital funding as limited partners potentially pull back on their investments.What's next: