---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-068570"
form_type: "8-K"
ticker: "PCOR"
cik: "0001611052"
company_name: "PROCORE TECHNOLOGIES, INC."
filed_at: "2023-03-13T23:59:59+00:00"
generated_at: "2026-06-18T04:28:02.037424+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Procore discloses ~5% of cash held at failed Silicon Valley Bank; expects no material impact

## Summary
- Approximately 5% of total cash, cash equivalents, and marketable securities held at SVB; 95% at other large institutions.
- Outstanding unsecured letters of credit from SVB total $5.9M for leased office facilities.
- Company expects all SVB deposits to be fully available after FDIC resolution per joint statement of Treasury, Fed, FDIC.
- Management believes the SVB closure will not have a material impact on day-to-day operations.

## SEC filing metadata
- accession: 0001193125-23-068570
- form_type: 8-K
- ticker: PCOR
- cik: 0001611052
- company_name: PROCORE TECHNOLOGIES, INC.
- filed_at: 2023-03-13T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1611052/000119312523068570/0001193125-23-068570-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1611052/000119312523068570/d409840d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-068570
- JSON: https://secwatch.observer/filing/0001193125-23-068570.json
- Plain text: https://secwatch.observer/filing/0001193125-23-068570.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.