Veeva Systems holds Global Customer Summit in Philadelphia

Tom Paine


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Veeva Systems, the Pleasanton, CA-based Cloud CRM and CMS vendor to the Life Sciences and Pharma industries, held its Global Customer Summit earlier this week with over 700 attendees from 100 companies at the Pennsylvania Convention Center in Philadelphia.

Veeva, a company founded only in 2007 and about which I would guess few outside of its niche markets and perhaps the Salesforce.com universe (its CRM runs on the Force.com platform) knew much until recent months, has been put on the map due to widespread reports that it is planning an IPO that could take place as soon as the third quarter, and has already lined up its lead bankers for the deal. (See my posts California-based Cloud Pharma CRM & CMS vendor Veeva Systems, with sales & marketing based in Radnor, may seek IPO and Reuters: Veeva Systems, with significant Radnor presence, taking more steps towards IPO ). While Veeva has not confirmed the most recent reports, neither has it denied them.

Veeva held its Customer Summit in Philadelphia this year, as it has in the past, partly due to the large concentration of Life Sciences customers in Pennsylvania and New Jersey, and also because of the location of Veeva's US customer service, sales and marketing in Radnor. The event gave Veeva the opportunity to make some significant new product announcements:

Introduced Veeva Network, a cloud-based customer data and master data management (MDM) solution.


A new mobile CRM and CLM (Closed Loop Marketing) solution for Windows 8. The same apps had been available on the iPad since 2011.

Veeva also announced that two major healthcare advertising agencies had committed to developing content for Veeva's new, approved (for regulatory purposes) email app that allows Pharma salesforces to communicate directly with physicians via their tablets.

In addressing the summit, Veeva’s CEO, Peter Gassner, presented some key company milestones. He said in the last 5 ½ years (essentially since the company's founding), Veeva’s user base has grown to 100,000 users in 75 countries and the company currently has 500 employees, and is still growing at 100% per year.

Veeva Systems had around $120 million in revenue last year and is profitable, according to reports. It accomplished this with only $7 million in venture capital - $4 million of it institutional (from Emergence Capital) and $3 million in angel funding. Veeva told me in March it had 50 to 60 employees in the Philadelphia area.



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