Veeva Systems Inc. is an American cloud computing company focused on life sciences and pharmaceutical industry applications. It is headquartered in Pleasanton, California, and was founded in 2007 by Peter Gassner and Matt Wallach. The company offers software-as-a-service to companies in the life-science industry, including drug development, drug delivery, and clinical research. It provides a variety of products, including business intelligence, analytics, and clinical trial support.
Veeva is growing in three industries: life sciences, cosmetics, and consumer goods. All three industries have similar product development cycles and quality management requirements. The company currently has over 40 early adopters in each of these industries, and has developed three product offerings based on its Vault platform. The company’s management thinks that the cosmetics segment could represent a $1 billion annual market. However, the future growth of the company depends on a number of factors.
While the company has been focused on the life sciences industry, it is also extending its services into consumer goods and chemical industries. While many of these industries are different from each other in their quality management and product development cycles, Veeva says that the pharmaceutical and cosmetics markets share similar quality management needs. Veeva has over 40 early adopters and three product offerings based on the Vault platform. The company expects its cosmetics segment to generate about $1 billion in revenue annually.
Veeva Systems’ platform was built with input from its customers. The company serves over 700 customers in the life sciences industry. The company is working with over 40 of these customers to help them grow and expand. Its current addressable market for this segment is estimated at $5 billion. Its revenue is expected to grow 40% annually, which is a significant amount. Its goal is to become a strategic partner for the industry and become a top 10 player.
The company has a focus on life sciences companies. Its end-to-end platform is tailor-made for these customers. Revenue from the life sciences segment is more than half of Veeva’s total revenue. The company also has strong partnerships with leading companies in the industry. The companies are expanding their services into the food and chemical industries. For example, Veeva has expanded into the consumer goods industry with the aim of becoming a strategic partner to the industry.
The company is expanding beyond the life sciences industry to serve more customers. With over 700 customers, it plans to expand into the consumer goods and chemical industries. This is a strategic move for the company, because the two industries have similar quality management requirements and product development cycles. It is currently working with more than 40 early adopters and has three products based on its Vault platform. With more than one billion users worldwide, Veeva’s growth potential is staggering.
