Veeva Systems was founded in 2007 by Peter Gassner and Matt Wallach in Pleasanton, California. Gassner, a former SVP at Salesforce, saw that the pharmaceutical industry was stuck on outdated on-premises software. He built Veeva as a vertical cloud platform specifically for life sciences.
Veeva CRM, built on the Salesforce platform, became the dominant CRM for pharmaceutical sales teams. It replaced legacy systems from Siebel and others, giving drug companies a modern tool for managing interactions with healthcare professionals. Veeva CRM’s market share in pharma exceeds 80%.
Veeva Vault is the company’s own technology platform (independent of Salesforce) that powers a suite of applications for clinical operations, regulatory affairs, quality management, and medical communications. Vault Clinical handles trial management, eTMF (electronic trial master file), and CTMS (clinical trial management system). Vault Regulatory manages submissions to regulatory agencies worldwide.
In 2022, Veeva announced it would move off the Salesforce platform for CRM and build Vault CRM on its own technology. The transition, expected to be complete by 2025, reflects Veeva’s confidence in its Vault platform and desire for full control of its technology stack.
Veeva went public in 2013 and was the first cloud company to convert to a Public Benefit Corporation, which happened in 2021. Annual revenue exceeded $2.3 billion in fiscal year 2024. The company maintains high margins and consistent growth.
Gassner remains CEO. Veeva employs over 7,000 people and serves more than 1,000 customers across pharmaceutical, biotech, and medical device companies. The company’s deep domain expertise in life sciences is its primary competitive moat.
