Abhay Parasnis, the CEO and founder of Typeface, addressed the company's exposure to the collapse of Silicon Valley Bank. fo

Abhay Parasnis, the CEO and founder of AI enterprise content company Typeface, addressed his startup's exposure to the collapse of Silicon Valley Bank.&nbsp; "We have all our funds now. We have access to it, so we are good," he told Cheddar News.

A.I. Startup Typeface Weathered SVB Collapse, Says CEO 

Typeface building itself is an AI application for enterprise content creation and the startup recently announcing its launch along with a $65 million funding round typeface saying it's a I powered platform can help any enterprise create personalized on brand content faster and easier than ever before. So joining me now is uh business founder and CEO of typeface. Hey, thanks so much for coming on the show because the topic of conversation from Wall Street to Silicon Valley continues to be the collapse of SVB. And what happens in the wake of this? I have to ask you as a startup. Did you do business with SVB and hasn't impacted your company and your finances? Yeah, Christian, thanks for having me obviously as all of your coverage and obviously last 23 days, everyone has been kind of obviously dealing with the unfolding situation for us. We certainly did have a relationship with SVB. Thankfully for us, both our overall financial kind of a profile and the backing as well as we had a overall diversification. So we were not as severely impacted. And obviously, as of this morning, obviously, thankfully with the decisions government has taken it certainly makes at least the depositor situation better. But for us as we came out of the launch and announced, kind of both given the financial backing of the company and we did have a strategy to have access to funds. So we are fortunately okay. Have you been able to collect all of your deposits from SVB? Yeah, we have all our funds now, we have access to it, so we are good. Okay. Uh Hey, I'm happy to hear that for your company. Obviously is a very dynamic situation. Tell me more about your company and how you're trying to grow this despite some of the recent turmoil that we've seen in the banking sector. Yeah, no, I mean, obviously, I think if you step back, I mean, obviously, as a one of the sectors in the startup ecosystem that has been very dynamic over the last few months, certainly. And this year is this notion of generative AI which is using AI technologies to completely reimagine how content can be created personalized and delivered. And so with typeface, we just came out of stealth a couple of weeks ago and we're really excited because it's the first company that is really taking the promise of generative ai all of us have seen applications like Chad GPD for consumers being a profound change. But ultimately, we believe these technologies are going to have even bigger impact and profound impact for companies of all sizes and so typefaces really focusing on bringing the benefits of generative ai like speed of content creation and marry that with notion of personalizing each company's content in their own unique brand voice in their own audiences. And so really typeface is the first company taking generative ai And bringing it to the enterprise. Well, look, it's definitely good that you were able to close the $65 million $65 million. Now in some bank other than SBB, how are you going to use that to grow the business? Yeah, I mean, first of all, I think for us, this is a really long term perspective and a view on this kind of category that's emerging. It's still early days. But we think it's gonna completely and profoundly shift virtually every business application category from sales and marketing to hr to support and across many industries. And even since we launched two weeks ago, we have had tremendous response. Thousands of companies and users have registered on our wait list and we are excited with the response. We're provisioning all those users in a very diligent way. We want to make sure that experience is great. But back to your question, if you look at our founder of the people, investors and people who could have uh part of that funding, we also wanted to get institutions like Google Ventures, Lightspeed Ventures, Menlo and Microsoft Ventures because it's a long term bet for us. So we're really focusing for long term. Alright, long term, we wish you the best of luck. I'm Hey at Paris Nous, founder and CEO of typeface of. Hey, thank you. Certainly a success story in the startup world.