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Veeva Systems

Veeva Systems Inc. is an multinational specializing in cloud-based software solutions, , and consulting services for the global life sciences industry, including pharmaceuticals, , and medical devices. Founded in 2007 by and Matt Wallach, the company is headquartered at 4280 Hacienda Drive in . Veeva's core offerings revolve around its Veeva Vault platform, a unified cloud-based system that enables , , , , and commercial operations tailored to the unique regulatory and operational needs of life sciences organizations. Additional key solutions include Veeva Commercial Cloud for and sales automation, Veeva Development Cloud for management, Veeva Quality Cloud for processes, and Veeva Data Cloud for and analytics. As a publicly traded company on the under the ticker symbol VEEV since its 2013 , Veeva has demonstrated strong growth, achieving total revenues of $2.746 billion for fiscal year 2025, ending January 31, 2025, marking a 16% increase from the prior year. The employs approximately 7,291 people worldwide as of that fiscal year end and operates offices across , , , and to serve 1,477 customers as of fiscal year 2025, including major firms like , , and . In February 2021, Veeva became the first U.S. public company to convert to a , legally committing to balance shareholder interests with broader benefits, such as advancing in life sciences and promoting ethical business practices. In October 2025, Veeva announced plans to release AI agents across its applications starting in December 2025 to enhance automation in R&D, quality, and commercial functions, positioning the company as a pioneer in industry-specific for regulated sectors.

Company overview

Founding and operations

Veeva Systems was founded in 2007 by and Matt Wallach in . The company originated as a of the platform tailored for in the , addressing specific needs in the life sciences sector. This approach allowed Veeva to leverage established while focusing on industry-specific challenges from its inception. Veeva is headquartered at 4280 Hacienda Drive in , with a global footprint that includes offices in more than 10 countries across , , , , and other regions. As of the ending January 31, 2025, employs 7,291 people worldwide. Veeva operates as a leading provider of cloud-based software solutions for the life sciences industry, emphasizing a subscription-based service model to deliver scalable, industry-specific applications. In 2021, Veeva converted to a , committing to balancing profit with public benefits such as productivity in served industries and high-quality employment.

Industry focus and mission

Veeva Systems focuses on the global life sciences industry, encompassing pharmaceuticals, , and medical devices, by providing cloud-based software, data solutions, and consulting services designed to enhance productivity and address sector-specific challenges such as and . The company's mission is to build the Industry Cloud for Life Sciences, aiming to improve health outcomes and extend human life through innovative technologies that support efficient operations from to commercialization. This targeted approach enables life sciences organizations to navigate complex regulatory environments and accelerate the delivery of therapies to patients. Since converting to a on February 1, 2021—the first publicly traded company to do so—Veeva has embedded a public benefit purpose into its charter, committing to deliver products and services that boost industry productivity while creating high-quality employment opportunities in served communities. As a PBC, Veeva prioritizes values including doing the right thing, customer success, employee success, and speed, with a strong emphasis on ethical practices, employee well-being through programs like "Work Anywhere" and equity ownership, and broader societal impact via and charitable initiatives. This structure ensures that decisions balance profit with long-term benefits for stakeholders, reinforcing Veeva's role as a strategic partner in advancing human health. Veeva serves 1,477 customers worldwide as of January 31, 2025, including leading firms such as Bayer, Novartis, and Merck & Co., helping them overcome hurdles in clinical trials, commercial operations, and data privacy within highly regulated settings. Founded in 2007, the company has grown to support these organizations in their digital transformation efforts, fostering compliance and operational efficiency without compromising ethical standards.

Products and services

Veeva Commercial Cloud

Veeva Commercial Cloud is an integrated suite of cloud-based applications tailored for sales, marketing, and in the life sciences sector, enabling unified operations across commercial teams. Its core components include Veeva CRM, which provides comprehensive with tools for profiling, planning, and interaction tracking; Vault PromoMats, designed for managing regulated promotional content through automated review workflows and digital asset distribution; and Vault MedComms, which supports medical affairs by handling scientific and educational content lifecycles specific to non-promotional communications. The platform facilitates multichannel engagement with healthcare professionals via omnichannel capabilities that support personal, digital, and virtual interactions, ensuring seamless coordination between field and office teams. It incorporates built-in compliance features to meet stringent regulatory requirements from bodies like the FDA and , including automated approvals, audit trails, and content governance to mitigate risks in promotional and medical communications. Additionally, integration through Veeva AI enhances by delivering data-driven insights, such as intelligent call preparation and compliant note generation, to optimize customer interactions. As of 2025, Veeva Commercial Cloud has achieved significant adoption, with nine of the top 20 pharmaceutical companies implementing it, particularly through migrations from Salesforce-based systems to Veeva's native platform for greater integration and life sciences specificity. In November 2025, committed to adopting , leveraging agents for commercial operations, further illustrating the platform's growing adoption among leading biopharma companies. In commercial operations, it supports use cases like field sales automation, where mobile tools streamline territory planning and real-time data access for representatives, and key account management, which enables coordinated strategies across accounts involving multiple stakeholders and channels.

Veeva Development Cloud

Veeva Development Cloud is a unified cloud-based platform designed to streamline (R&D) operations in the life sciences industry, integrating applications across clinical, regulatory, , and domains to eliminate and enhance efficiency. It serves as an operating system for end-to-end , enabling companies to manage complex workflows on a single, compliant . The platform's modular architecture allows organizations to deploy specific tools as needed while ensuring seamless data flow and real-time visibility. Central to the Development Cloud are key applications that address critical aspects of R&D. Vault Clinical provides comprehensive trial management, supporting study planning, site activation, monitoring, and data collection for both insourced and outsourced trials. Vault RIM handles regulatory information management, facilitating submission planning, dossier assembly, and global registration tracking to ensure accurate and timely regulatory compliance. Vault QMS offers a robust quality management system for processes such as corrective and preventive actions (CAPA), change control, audits, and deviations, promoting proactive risk mitigation. Additionally, Vault Safety streamlines pharmacovigilance by enabling adverse event case processing, signal detection, and regulatory reporting for drugs, biologics, and devices. Together, these applications support holistic R&D processes, from initial submissions and inspections to adherence with international standards like ICH guidelines, including GCP E6(R3) for risk-based trial monitoring. In April 2025, Veeva introduced capabilities integrated into the Development Cloud, enhancing for clinical trials to forecast patient recruitment, identify risks, and optimize timelines. These features leverage agentic agents to automate insights and , building on the platform's common for more accurate forecasting and reduced manual effort. Biotech and pharmaceutical firms, including over organizations such as Merck and , rely on the Development Cloud to accelerate development cycles by up to 20% in efforts and minimize compliance risks through automated audit trails and centralized oversight. This adoption has enabled faster time-to-market while maintaining rigorous global regulatory standards.

Veeva Data Cloud

Veeva Data Cloud is a unified platform that aggregates and analyzes vast datasets from healthcare professionals (HCPs), organizations, patient journeys, and multichannel interactions to support life sciences companies in making data-driven decisions. It combines multiple data sources into a common architecture, enabling seamless access to insights for commercial strategies, generation, and planning. Key components include Veeva OpenData, which provides comprehensive global reference data on HCPs, healthcare organizations (HCOs), and their affiliations, including names, credentials, and contact details to facilitate accurate targeting and engagement. Veeva Link serves as a real-time intelligence platform that delivers multichannel engagement analytics, helping teams identify key opinion leaders (KOLs), optimize interactions across digital and in-person channels, and measure engagement effectiveness. Additionally, the Crossix Data Platform offers detailed patient journey insights through aggregated data on prescriptions (Rx), clinical trials, claims, consumer behavior, hospital records, and media exposure, covering over 300 million health lives to inform strategies for patient outcomes and therapeutic adoption. The platform emphasizes privacy-safe data handling, ensuring compliance with regulations such as the General Data Protection Regulation (GDPR) and the Health Insurance Portability and Accountability Act (HIPAA), which allows life sciences firms to derive and support without compromising sensitive information. This compliance framework includes data processing addendums, encryption standards, and audit trails that align with ISO 27001 and 21 CFR Part 11 requirements. Applications span , where aggregated datasets reveal prescribing trends and HCP behaviors; HCP targeting, enabling precise segmentation based on access patterns and specialties across 102 areas; and , by tailoring engagement strategies to individual HCP profiles and patient needs for improved therapeutic outcomes. In 2025, Veeva Data Cloud expanded with AI-driven capabilities, introducing for commercial performance metrics, such as forecasting HCP engagement and patient outcomes through enhanced segmentation and next-generation agents integrated into the . These advancements build on the 's integration with tools to automate insights and streamline workflows.

Consulting and support services

Veeva Systems provides a range of through its Veeva Business Consulting division, which focuses on strategic advisory, , system implementation, and ongoing optimization to help life sciences organizations leverage its cloud-based solutions effectively. These services enable clients to establish performance targets, enhance business processes, and accelerate operations by integrating software, data, and industry expertise. For instance, consulting teams assist in designing and executing organizational readiness, scaling change through communication and commitment-building, and optimizing processes across , commercial, medical, and quality domains. Specialized offerings include compliance training through Veeva Learn GxP, acquired via the 2021 purchase of Learnaboutgmp, a provider of accredited eLearning content with over 170 courses tailored for life sciences professionals. This acquisition expanded Veeva's capabilities in regulatory training, operating as an independent unit within the Development Cloud to support compliance and operational efficiency. Additionally, trial supply consulting is available as part of R&D advisory services, where subject matter experts guide clients on and supply management strategies to streamline complex clinical trials. A global team of consultants, with leaders positioned across regions like , , and , delivers these services, offering clients direct access to Veeva's product development teams for customized solutions in the life sciences sector. This expertise ensures tailored implementations, managed services for application optimization, and technical support for integrations, all while prioritizing fast adoption and innovation. In 2025, Veeva expanded its support for emerging biotechs with Veeva Basics, a pre-configured suite of applications that simplifies clinical, regulatory, and quality operations; over 100 biotechs across 60 companies have adopted it to standardize processes and reduce implementation burdens.

History

Formation and early development

Veeva Systems was founded in January 2007 by and Matt Wallach, both experienced in development for the pharmaceutical sector, with Gassner having previously worked at and Wallach at . The company initially operated as Verticals onDemand, Inc., before renaming to Veeva Systems in April 2009, and launched as a partner focused on customizing (CRM) solutions for the life sciences industry, particularly pharmaceuticals. This specialization addressed the unique regulatory and compliance needs of pharma companies, enabling more efficient sales and marketing processes through cloud-based tools built on 's platform. By 2008, Veeva had introduced Veeva CRM, its flagship product tailored for pharmaceutical sales teams, marking the company's entry into providing industry-specific solutions. Key early milestones included securing initial major customer contracts in the pharmaceutical sector by 2010, such as deployments with top-10 and top-50 global pharma companies, which validated the platform's value in replacing legacy on-premise systems with scalable, compliant alternatives. These contracts, often involving thousands of users, highlighted Veeva's rapid adoption among North American life sciences clients seeking improved field sales efficiency and . In February 2011, Veeva introduced the Veeva Vault platform, a proprietary cloud-based designed for regulated content in life sciences, signifying a strategic shift toward building its own suite of industry-focused applications beyond Salesforce dependencies. This innovation expanded Veeva's offerings to include document management, , and tools, further differentiating it in the . Early was robust, with the employee base expanding from approximately 60 in 2010 to 257 by January 2012 and over 500 by mid-2013, driven primarily by demand from North American pharmaceutical and biotech firms. By 2013, Veeva served around 170 customers across more than 75 countries, solidifying its position as a leader in life sciences cloud software prior to its .

Initial public offering and expansion

Veeva Systems went public on October 16, 2013, listing on the under the ticker symbol VEEV. The was priced at $20 per share, above the revised range of $17 to $19, with 13,045,000 shares offered, including 9,720,000 shares by the company and 3,325,000 by selling stockholders. The underwriters' option to purchase additional shares was fully exercised, resulting in a total of 15,001,750 shares sold and gross proceeds of approximately $300 million. At the IPO price, Veeva achieved a fully diluted of about $2.9 billion, marking it as a company with a private valuation exceeding $1 billion prior to the offering. Shares surged 85% on the first trading day, closing at $37.16 and pushing the market value to nearly $5 billion. Following the IPO, Veeva accelerated its international expansion to support growing demand in the life sciences sector. In 2014, the company opened data centers in and the to enhance service delivery and compliance for European customers. By 2016, Veeva established an office in , , to bolster its presence in and serve emerging markets more effectively. This global push contributed to rapid revenue growth, with total revenues increasing from $129.5 million in fiscal year 2013 (ended January 31, 2013) to $409.2 million in fiscal year 2016 (ended January 31, 2016), a of approximately 46%. During this period, Veeva enhanced its product offerings to drive adoption, including the launch of Veeva Commercial Cloud in May 2014, which integrated , compliant , and multichannel interactions for life sciences companies. The platform built on the early Veeva Vault system, adding features for international , such as multilingual support and adherence to regional standards like those in . Customer growth reflected this momentum, expanding from 134 at the end of fiscal 2013 to 276 by the end of fiscal 2015.

Recent strategic developments

In February 2021, Veeva Systems became the first publicly traded company to convert to a (PBC), a structural change approved by over 99% of voting shareholders to formally embed ethical considerations into its . This conversion requires Veeva's board to balance the interests of shareholders with those of other stakeholders, including customers, employees, and the broader community, aligning the company's operations with long-term societal benefits in the life sciences sector. Advancing its technological innovation, Veeva introduced Veeva AI on April 29, 2025, integrating generative capabilities across its Vault Platform and applications to automate tasks, enhance , and ensure for life sciences organizations. The initial release of Veeva AI is scheduled for 2025, with licensing at the Vault level to support scalable adoption. Complementing this, Veeva launched Vault Basics in 2024, a simplified, cost-effective suite of GxP-compliant applications tailored for emerging biotechs, which has been adopted by over 100 companies across clinical, regulatory, and functions to streamline operations without fees. In 2025, Veeva expanded the Basics suite with Veeva LIMS Basics and PromoMats Basics to further support biotech operations. A pivotal shift occurred in September 2025 when Veeva ended its long-standing partnership with , transitioning customers to its proprietary Vault CRM to gain greater control over innovation and reduce dependency risks. This move secured commitments from nine of the top 20 pharmaceutical companies, including Merck and , to adopt Vault CRM, supporting Veeva's independent evolution in . Further strengthening its ecosystem, Veeva announced a global partnership with on August 18, 2025, focusing on clinical and commercial integrations to enhance data interoperability, , and service delivery for mutual customers. This collaboration resolves prior legal disputes and enables seamless use of Veeva's software with IQVIA's data and services, accelerating innovation in clinical trials and commercial operations.

Acquisitions and partnerships

Major acquisitions

Veeva Systems has pursued a of acquisitions to expand its cloud-based solutions for the life sciences industry, completing several acquisitions by 2025, primarily targeting technologies in life sciences and healthcare IT, and no major deals announced after 2021. In September 2015, Veeva acquired Zinc Ahead, a UK-based provider of commercial software, for $130 million. This acquisition enhanced Veeva Vault's capabilities by integrating Zinc Ahead's Medical Affairs Portal System (MAPS), enabling better collaboration and compliance for promotional and medical content in the life sciences sector. Veeva expanded its offerings in October 2019 with the $430 million acquisition of Crossix Solutions, a leader in privacy-safe and multi-channel . Crossix's integration into Veeva's Data Cloud has bolstered journey insights and optimization for pharmaceutical companies, serving over 200 brands and improving targeted engagement while maintaining privacy compliance. Also in 2019, specifically November, Veeva acquired Physicians World, a provider of speakers bureau services and for . Valued at approximately $41.4 million, this deal added expertise to Veeva's Commercial Cloud, streamlining the planning and execution of healthcare professional events, including virtual formats, to support compliant medical communications. To strengthen compliance training, Veeva acquired Learnaboutgmp in August 2021, a specialist in accredited e-learning content for life sciences. This integration into Veeva Vault Training has provided scalable, regulatory-focused education modules, helping organizations manage (GMP) and other requirements more efficiently across global teams. In December 2021, Veeva acquired Veracity Logic, a cloud-based provider of and trial supply management (RTSM) software, for an undisclosed amount. This addition to the Development Cloud has advanced decentralized capabilities, enabling real-time and reducing logistical complexities in drug distribution for trials. These acquisitions have collectively supported Veeva's platform expansions, including brief contributions to AI-driven features in data analytics and trial management.

Key partnerships and collaborations

Veeva Systems maintained a long-term partnership with Salesforce that began in 2007, leveraging Salesforce's platform to build and scale its initial customer relationship management (CRM) solutions for the life sciences industry. This collaboration enabled Veeva to deliver compliant, industry-specific CRM capabilities to pharmaceutical and biotechnology customers until the agreement concluded in September 2025, after which Veeva transitioned its CRM offerings to its proprietary Vault platform. In August 2025, Veeva announced a strategic collaboration with to integrate real-world data into commercial and clinical applications, marking a shift from prior legal disputes to a long-term . The partnership combines Veeva's cloud software with IQVIA's data and services to enhance efficiency and commercial operations, including faster database builds and data delivery for life sciences organizations. Veeva has established key alliances with technology firms to support its cloud infrastructure and innovation efforts, notably expanding its decade-long relationship with (AWS) in June 2025. This collaboration utilizes AWS's compute, database, and global infrastructure to power Veeva's industry solutions, enabling scalable software and for life sciences while facilitating co-development. Additionally, Veeva partners with firms like Accumulus Synergy to modernize regulatory data exchange, improving connectivity with authorities through integrated platforms. Veeva engages in joint initiatives with major customers such as and to develop best practices for technology integration following acquisitions. In 2022, representatives from both companies shared strategies at Veeva's R&D Summit for incorporating acquired entities into Veeva's ecosystem, emphasizing streamlined processes and cross-functional alignment. This collaboration continued into 2025, with committing to Veeva to enhance commercial execution and AI-driven capabilities.

Leadership and governance

Executive team

Peter Gassner serves as the founder and of Veeva Systems, a position he has held since establishing the company in 2007. With over 18 years of tenure, Gassner oversees the company's overall strategic direction, product development, and operations, having pioneered the industry's first cloud-based software solutions tailored for life sciences companies. His leadership has driven Veeva's transformation into a in 2021, emphasizing stakeholder value beyond shareholders, and guided its growth to exceed $2 billion in annual revenue by fiscal 2025. Gassner, a graduate from , previously contributed to Salesforce's development of its platform before founding Veeva to address unmet needs in pharmaceutical compliance and commercial operations. Tom Schwenger has been and at Veeva since joining in September 2019, bringing more than 30 years of experience in life sciences software and services. In this role, he leads sales, customer success, global operations, and field services, focusing on enhancing customer adoption and satisfaction across Veeva's cloud platforms. Schwenger's contributions include expanding Veeva's international footprint and strengthening partnerships with major pharmaceutical firms, which have supported consistent revenue growth in commercial and regulatory segments. Prior to Veeva, he held executive positions at Model N and Agile Therapeutics, where he scaled software solutions for healthcare compliance and revenue management. Brian Van Wagener assumed the role of in September 2024, after serving in various positions at Veeva since approximately 2019, accumulating about six years with the company. He manages financial , , legal affairs, , and treasury functions, contributing to Veeva's fiscal discipline amid rapid expansion and investments in AI-driven innovations. Van Wagener's oversight has supported strong profitability margins, with Veeva reporting non-GAAP operating margins above 35% in recent quarters, while navigating market volatility. Before Veeva, he was senior of and operations at BetterUp and held roles at and . Nitsa Zuppas has served as president and since April 2024, with 12 years at Veeva overall, previously as from 2013 to 2024. In her current position, she assists in setting, communicating, and executing the company's strategic direction, playing a key role in aligning cross-functional teams for innovation and growth. Zuppas's contributions include building Veeva's brand during its in 2013 and scaling marketing efforts that have driven customer acquisition in the life sciences sector. Earlier in her career, she led marketing at First Virtual Communications and held positions at .

Board of directors

Veeva Systems' board of directors comprises nine members as of November 2025, including one company executive and eight independent directors, providing strategic oversight to the cloud-based software provider for the life sciences industry. The board is led by Chairman Gordon Ritter, a founder and general partner at Emergence Capital Partners with over 16 years of service on the board and extensive experience in building cloud software companies; Peter Gassner, the founder and CEO who has served for 18 years and guides overall strategy and operations; Paul Sekhri, an independent director and biotechnology veteran serving as CEO of vTv Therapeutics Inc. with 11 years on the board; and Mary Lynne Hedley, an independent director with more than 25 years in biotech and pharmaceutical executive roles, including five years at Veeva. Other members include Tim Cabral (former CFO, Audit Committee Chair, three years), Mark Carges (technology advisor and ex-CTO of eBay, eight years), Priscilla Hung (former President and COO of Guidewire Software, three years), Marshall Mohr (former CFO of Intuitive Surgical, three years), and Matt Wallach (co-founder and former President of Veeva, five years). As a , Veeva's board holds responsibility for overseeing the company's public benefit purpose, including establishing annual objectives related to industry impact, customer success, employee development, and ethical operations, with progress tracked and reported publicly each year. The board also maintains standing committees—such as , Compensation, and Nominating and Governance—to address key governance areas, including financial reporting, executive pay, and director nominations. The board emphasizes in , professional backgrounds, and expertise, with female representation through directors like Hedley and Hung, alongside deep knowledge in life sciences, , and to support Veeva's focus on pharmaceutical and biotech clients. The average tenure stands at eight years, balancing institutional knowledge with newer perspectives from recent appointees.

Financial performance

Revenue growth and profitability

Veeva Systems reported total revenue of $2.746 billion for 2025, representing a 16% increase year-over-year. Subscription services accounted for $2.285 billion of this total, comprising 83% of overall revenue and reflecting the company's emphasis on recurring, cloud-based solutions for the life sciences . for 2025 reached $714 million, a 36% rise from the prior year, underscoring improved operational efficiency. In the second quarter of 2026, revenue grew to $789 million, up 17% year-over-year, while operating income increased 18% to $196 million. Veeva's profitability has been bolstered by its high recurring , with subscription services driving consistent cash flows and low customer churn rates typically below 5% annually. The operating margin for fiscal year 2025 stood at approximately 25%, reflecting scalable operations and cost discipline amid revenue expansion. A significant portion of Veeva's revenue derives from services provided to the top 20 life sciences firms, with the company serving 19 of these leading biopharma organizations. International revenue contributed about 41% of in fiscal year 2025, primarily from and , supporting diversified geographic growth.

Market position and stock performance

Veeva Systems holds a dominant position in the vertical market for the life sciences , particularly through its cloud-based solutions tailored to pharmaceutical and biotech needs. Its Veeva platform commands over 80% among global pharmaceutical sales representatives, establishing it as the standard for in this sector. Similarly, Veeva provides leading capabilities, with the platform recognized as a top solution for compliant document handling in life sciences, serving regulatory and quality processes across the . This leadership is underscored by a customer base of 1,477 organizations, including major biopharma firms and emerging biotechs, supported by a 98% subscription renewal rate that reflects strong retention and satisfaction. The company's competitive advantages include seamless expansion opportunities within its ecosystem, exemplified by Veeva Basics—a pre-configured suite adopted by more than 100 emerging biotechs to standardize operations in clinical, regulatory, and without requiring future migrations. This focus on and industry-specific innovation positions Veeva ahead of broader competitors, enabling it to capture significant value in a market projected to grow rapidly amid increasing regulatory demands and in life sciences. As a publicly traded on the under the ticker VEEV, Veeva's market capitalization exceeded $48 billion as of November 2025. Since its in October 2013, priced at $20 per share, the stock has appreciated substantially to around $295 by late 2025, yielding an annualized return of approximately 19% for long-term investors. Recent performance has seen upward momentum driven by key contract wins with major biopharma clients and advancements in integrations, such as the rollout of agents across its applications starting in December 2025, enhancing and investor confidence.

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