As a serial entrepreneur who has famously endured some ups and downs, Parker Conrad has nearly seen it all. Or so he might have thought until last week. Certainly, he never imagined a run on Silicon Valley Bank that so abruptly upended the operations of Rippling, his six-year-old workforce management company, that it would liquidate $130 million in money market funds to meet the needs of its customers.
Neither did he imagine that in the span of 12 hours, Rippling would secure $500 million in fresh funding as a kind of insurance in the very likely scenario that SVB’s meltdown wasn’t resolved nearly as quickly as it happened.
Yet both things happened in short order, enabling Ri...
