Veeva among top global leaders in Forbes’ annual Fast Tech 25 list
PLEASANTON, CA — May 3, 2016 — Veeva Systems (NYSE: VEEV), a leading provider of industry cloud solutions for life sciences, was named among the top fastest growing public technology companies on Forbes’ annual Fast Tech 25 list. Veeva’s average sales growth of 47% over the past three fiscal years ranked it fourth among companies on this year’s list.
Veeva’s ranking signifies the growing importance of industry cloud – a new breed of specialized cloud solutions that are tailored to meet the needs of a particular industry. According to Gartner, industry-specific software is the largest segment of the enterprise software market.
For years, many industries have been stuck on aging industry-specific client/server or custom solutions and unable to transition some of their most crucial business processes to the cloud. Veeva was founded in 2007 on the premise that industry cloud would be the next wave of cloud computing and pioneered industry cloud solutions for the life sciences industry.
“Our tremendous growth has been fueled by the innovation we’ve brought to the cloud technology market and our commitment to customer success,” said Peter Gassner, Veeva founder and CEO. “We’re honored to be among the most trusted providers to one of the largest global industries in their mission to improve and extend life.”
Veeva’s industry cloud solutions are specifically designed to help life sciences companies achieve their most pressing strategic objectives in bringing drugs to market faster and more efficiently, marketing and selling them more effectively, and maintaining compliance with government regulations. Veeva’s growing base of 400 customers relies on Veeva’s industry cloud solutions to address a broad range of business requirements in the life sciences industry.
Each year Forbes ranks the 25 fastest-growing technology companies based on their three-year average sales growth rates. Forbes evaluated more than 5,000 public traded technology companies, looking for profitable companies with a minimum revenue of $150 million and a minimum market value of $500 million. Forbes then looked for firms with sales growth of at least 10% for each of the past three fiscal years and over the latest 12 months to compile its final rankings.
To learn more about Veeva visit www.veeva.com.
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About Veeva Systems
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 400 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. For more information, visit veeva.com.
Forward-looking Statements
This release contains forward-looking statements, including the market demand for and acceptance of Veeva’s products and services, the results from use of Veeva’s products and services, and general business conditions, particularly in the life sciences industry. Any forward-looking statements contained in this press release are based upon Veeva’s historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Veeva’s expectations as of the date of this press announcement. Subsequent events may cause these expectations to change, and Veeva disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Additional risks and uncertainties that could affect Veeva’s financial results are included under the captions, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the company’s filing on Form 10-K for the period ended January 31, 2016. This is available on the company’s website at www.veeva.com under the Investors section and on the SEC’s website at www.sec.gov. Further information on potential risks that could affect actual results will be included in other filings Veeva makes with the SEC from time to time.
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Contact:
Veeva Systems Inc.
pr@veeva.com