Cloud News
Major IT Companies That Did Business With SVB
Joseph F. Kovar, Wade Tyler Millward
The collapse of Silicon Valley Bank has sent ripples throughout the financial and technology industries. Here are some of the IT vendors that had done business with the bank.
RingCentral
Bloomberg reported that SVB was part of a loan this year to RingCentral, a vendor of cloud-based communications and collaboration products.
A spokesperson for Belmont, Calif.-based RingCentral told CRN in a statement that the vendor has “minimal cash deposits at SVB and this is not material for us.”
“Also, while SVB is part of our credit facility syndicate, BofA, JPM and Wells Fargo are the lead arrangers and bookrunners,” the spokesperson said. “The facility also includes Goldman Sachs, Morgan Stanley, Deutsche Bank and Toronto Dominion Bank.”
RingCentral has about 15,000 channel partners worldwide, according to CRN’s Channel Chiefs list.
Versa Networks
In October, Versa Networks raised a $120 million round of funding with plans to eventually go public. SVB participated in the round.
CRN has reached out to the Santa Clara, Calif.-based secure access service edge vendor for comment.
Versa Networks offers a partner program for MSPs, resellers, distributors, systems integrators and other partner business types.
