Veeva Systems, Pleasanton, CA
Company: Veeva Systems, Pleasanton, CA
Entry Submitted By: Finn Partners
Company Description: Veeva Systems Inc. is a leader in cloud-based software for the global life sciences industry. Committed to innovation, product excellence, and customer success, Veeva has more than 190 customers, ranging from the world’s largest pharmaceutical companies to emerging biotechs. Veeva is headquartered in the San Francisco Bay Area, with offices in Europe, Asia, and Latin America.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Most Innovative Tech Company of the Year - Up to 2,500 Employees
Nomination Title: Veeva Systems
1. Tell the story about what this nominated organization achieved since January 1 2013 (up to 525 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes: TEXT REDACTED FOR PUBLICATION
The emergence of cloud ushered in a new wave of information technology that is more flexible, agile, and offers an unprecedented pace of innovation. Yet many of the world’s largest industries have been unable to take advantage of new technology in key areas. They require specialized solutions to address their critical business functions and have been stuck on legacy, industry-specific solutions because generic horizontal cloud is not a fit. To address this, Veeva pioneered a new category: industry cloud. Having been at the forefront of all the major evolutions in software, the company’s founders saw that industry-specific cloud applications would represent the next big wave, and in 2007 became one of the first with a cloud offering tailored to a particular market: life sciences.
Leading a major market disruption, Veeva overtook large incumbents like Oracle to become a market-leading provider in under seven years. With 33 of the top 50 pharmaceuticals as clients, including Lilly, Merck, Novartis and Pfizer, Veeva is among the fastest-growing software companies.
Veeva’s CRM, content management, and customer master solutions provide industry-specific technology that helps organizations get drugs to market faster, maximize sales, and maintain compliance. Veeva’s industry cloud vision now serves as a model across multiple verticals.
In 2013, Veeva achieved numerous milestones:
- Unlike other cloud companies, Veeva’s ability to grow rapidly and remain profitable has proven growth and profitability are not mutually exclusive. Veeva is the largest, by revenue, and most profitable cloud company to IPO in 2013, achieving this with only $7M in venture funding. During FY14, the year ended Jan. 31, 2014, Veeva generated $210.2M in revenue. For the past two fiscal years, FY13 and FY14, Veeva generated $129.5M and $210.2M, respectively, with 62 percent year-over-year growth. In under seven years, Veeva has grown to 800+ employees, serving more than 200 customers with users in over 80 countries.
- The company launched Veeva Network, harnessing the cloud’s power to collect industry-specific data and deliver it directly within applications. Veeva Network is a cloud-based customer master designed specifically for life sciences companies. Offering data, services and software, Network helps life sciences get doctors the information they need, and ensure compliance with global regulations. Veeva Network’s data is collected from hundreds of authoritative sources, and refreshed regularly for a continuously improving repository. Easily accessible in the cloud, Network brings life sciences companies together to contribute updates to the shared systems that further augment the data. Once aggregated, these data sets are unique and valuable – and growing, as more companies join.
- The Veeva Vault line of regulated content management solutions, which helps life sciences companies through the research and development process from start to finish, surpassed 50 customers – just one year after its launch in 2012. Helping companies connect securely in the life sciences cloud, Vault provides the easy accessibility, visibility, and agility needed to speed time to market.
- Veeva introduced a mobile CRM and CLM solution for Windows 8, giving customers the freedom to choose among a range of robust mobile options.
- IDC Health Insights named Veeva a CRM leader in its 2013 Life Sciences CRM Software Vendor Assessment.
- Prior to going public, AlwaysOn included Veeva among its OnDemand Top 100 private companies.
Comprehensive list of industry accolades and awards
O IDC Health Insights’ 2014 Top Preferred Life Science Technology Vendors, ranked fourth and is the only cloud-based solutions provider on preferred vendors listing, 2014
O Network Products Guides Hot Companies and Best Product Awards, Hot Company Finalist, 2014
O VentureBeat’s Top 10 Customer Relationship Management Services – Veeva CRM, 2014
O The Cloud Awards’ Cloud CRM Solution of the Year, 2013-14
O IDC 2013 Life Sciences CRM Software Vendor Assessment, CRM Leader, 2013
O CEO World Awards’ CEOs of the Year, 2013
O PharmaVOICE Top 100 Industry Innovators (2009, 2010, 2011, 2012, 2013)
O Business Insider's List of 25 Next Big Enterprise Startups, 2013
O Named in Forbes’ Midas 100, 2012
O AlwaysOn’s OnDemand Top 100 Company, 2012
O Red Herring Top 100 North America Tech Startup, 2011
O CRN Magazine’s Top Cloud VARs, 2010
O Frost & Sullivan 2009 Global Pharmaceutical CRM Market Product of the Year
O Customer Interaction Solutions Magazine 2008 CRM Excellence Award
O Beagle Research Group’s 2008 WizKids™ Award
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Provide a brief (up to 125 words) biography about the leader of this nominated organization:
CEO Peter Gassner has been solving complex technology problems for 20 years. He has spearheaded historical transformations in information technology and driven some of the most impactful innovations in the industry.
Prior to Veeva, Peter was SVP of Technology at salesforce.com. Peter built and grew the salesforce.com platform into one of the most successful SaaS offerings, and the company completed its public offering during his tenure. Before salesforce.com, Peter served as the VP and general manager of PeopleSoft, developing the architecture underlying all PeopleSoft’s applications. He launched his career at IBM, researching and developing relational database technology.
Gassner’s greatest success has been founding Veeva Systems, growing it to over 700 employees serving more than 190 customers ranging from small biotechs to the world’s largest pharmaceuticals.