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Rippling’s Parker Conrad: “We raised $500m in one day to survive the SVB collapse”
The Times Tech Podcast
How to Raise $500 Million for a Startup
The 15th is a big day for payroll, generally. A bunch of that money was debited on Thursday before all of this went down from our client account. So it basically moved from our clients on Thursday over to our SVP account and was then getting scheduled to be paid out on Wednesday and frozen. And so what we didn't have the capital to cover payroll all way through Wednesday, even if we spent every last time that we had. The second thing that I did is talked to investors about getting an additional capital injection and basically raise money for the company. Like a venture capital fundraising round.
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