SVB collapse is double-whammy for tech startups already navigating brutal market
cnbc.comChartHop CEO Ian White breathed a major sigh of relief in late January after his cloud software startup raised a $20 million funding round.
He'd started the process six months earlier during a brutal period for tech stocks and a plunge in venture funding. For ChartHop's prior round in 2021, it took White less than a month to raise $35 million.
The market turned against him in a hurry. «There was just a complete reversal of the speed at which investors were willing to move,» said White, whose company sells cloud technology used by human resources departments.
Whatever comfort White was feeling in January quickly evaporated last week. On March 16 — a Thursday — ChartHop held its annual revenue kickoff at the DoubleTree by Hilton Hotel in Tempe, Arizona.
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