Live Global Events: Secure, Simplify, and Transform Your Business.

Zscaler Blog

Get the latest Zscaler blog updates in your inbox


Zscaler experiences no impact from SVB closure

JAY CHAUDHRY - CEO and Founder of Zscaler
3月 12, 2023 - 2 分で読了

As most of you have seen in the news, Silicon Valley Bank (SVB) was closed by regulators over concerns about its solvency. While this failure has affected SVB clients, many of whom are venture capitalists and tech companies, Zscaler has not experienced any negative impact to our business operations or ability to service our customers.


To provide some added context, SVB was put into receivership with the Federal Deposit Insurance Corporation on Friday, one day after its stock declined precipitously and the bank experienced a run on deposits by its customers. In simple terms, this means that a large number of SVB depositors, fearing that the bank will be unable to repay their deposits in full and on time, simultaneously withdrew their funds. Those events were triggered by SVB’s report of a $1.8 billion loss from the sale of investments and plans to raise $2.25 billion in equity capital.  


Although SVB had been our banking partner in the past, our current banking partners are among the largest, most stable global banks, and our deposits at SVB currently represent less than 0.1% of our $1.9 billion of cash and investments. In fact, the vast majority of our $1.9 billion is not held in bank deposits at all, but rather in extremely safe and liquid investments like short-term US Treasuries or government money market funds.  


Fortunately for those impacted, the US government just announced it will step in to backstop SVB depositors, with depositors having full access to their cash as early as Monday.


form submtited



Future Forward: The Top 5 Takeaways for Partners from Zenith Live
Future Forward: The Top 5 Takeaways for Partners from Zenith Live
Zenith Live 2023
Zero Trust Connectivity Extended, Plus a Massive Leap in Data Protection - Zenith Live ‘23 Highlights
Jay Chaudhry, Zscaler CEO
Zenith Live ‘23 Kicks Off with Stunning Series of Innovation Announcements
01 / 02
dots pattern


このフォームを送信することで、Zscalerのプライバシー ポリシーに同意したものとみなされます。