Freshworks Statement on SVB
Freshworks has been a customer of Silicon Valley Bank since our early days. As we grew, we brought on larger, diversified banks such as Morgan Stanley, JP Morgan and UBS. The vast majority of our cash and marketable securities today is not held at SVB. We use SVB and several other banks for normal operations (receiving customer payments, processing payroll and payments to our vendors). Our exposure to the current SVB situation is minimal relative to our overall balance sheet. We are working with our customers and vendors who were using our SVB account to migrate to alternate bank accounts. We do not foresee any disruption to our employees or customers.
