Veeva Systems Bundle
Who Owns Veeva Systems?
Understanding Veeva Systems' ownership is key to grasping its strategic direction in the life sciences sector. The company's IPO in October 2013 marked a significant shift, expanding its shareholder base considerably.
Founded in 2007 and based in Pleasanton, California, Veeva Systems offers specialized cloud software for the global life sciences industry. By fiscal year 2025, its market capitalization reached approximately $48 billion, with revenues of $2.746 billion, 83% of which came from subscriptions.
The ownership landscape of Veeva Systems is diverse, encompassing its founders, institutional investors, and the public market. Key figures like Peter Gassner, the co-founder and CEO, hold significant influence. Institutional investors, such as Vanguard Group and BlackRock, are also major stakeholders, reflecting broad confidence in the company's trajectory and its innovative solutions, including offerings like Veeva Systems BCG Matrix.
Who Founded Veeva Systems?
Veeva Systems was established in 2007 by Peter Gassner, Matt Wallach, and Doug Ostler. Peter Gassner, who continues as CEO, brought extensive enterprise software expertise from his prior roles at Salesforce and PeopleSoft. Matt Wallach contributed significant experience in the life sciences sector, understanding its specific technological requirements.
Founding Team
Veeva Systems was founded in 2007 by Peter Gassner, Matt Wallach, and Doug Ostler. Gassner's background includes leadership roles at Salesforce and PeopleSoft, while Wallach specialized in life sciences technology.
Initial Funding
The company secured its Series A funding round on June 5, 2008, raising $4 million. This early capital was crucial for the company's development and market entry.
Key Early Investor
Emergence Capital Partners was a significant early investor, leading the Series A round. Prior to the IPO, Emergence Capital Partners held a substantial 31.1% stake in the company.
Total Venture Funding
Veeva Systems demonstrated capital efficiency by raising only $7 million in total venture funding before its initial public offering in 2013. This lean approach allowed for focused growth.
Institutional Investors
During its funding stages, Veeva Systems had two primary institutional investors: Emergence Capital and Lead Edge Capital. Their support was instrumental in the company's growth trajectory.
Founder Equity Details
Specific equity splits or detailed shareholding percentages for the individual founders at the company's inception are not publicly disclosed in available information.
The founding team's combined expertise in enterprise software and life sciences provided a strong foundation for Veeva Systems. The company's capital-efficient funding strategy, raising a modest $7 million before its 2013 IPO, highlights a focus on sustainable growth. Understanding the Revenue Streams & Business Model of Veeva Systems provides further context on how this early ownership structure supported its business operations.
Veeva Systems Ownership Snapshot
Veeva Systems was founded in 2007 by Peter Gassner, Matt Wallach, and Doug Ostler. The company's early funding rounds were led by Emergence Capital Partners, which held a significant stake prior to the IPO.
- Founders: Peter Gassner, Matt Wallach, Doug Ostler
- Founded: 2007
- Series A Funding: $4 million (June 5, 2008)
- Lead Investor: Emergence Capital Partners
- Total Venture Funding Pre-IPO: $7 million
- Key Institutional Investors: Emergence Capital, Lead Edge Capital
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How Has Veeva Systems’s Ownership Changed Over Time?
Veeva Systems transitioned to a publicly traded entity on October 16, 2013, with its Initial Public Offering (IPO) on the New York Stock Exchange under the ticker symbol 'VEEV'. The IPO offered 13,045,000 shares of Class A common stock at $20.00 per share, and the stock saw a significant first-day surge, reaching $49 and valuing the company at approximately $5.25 billion.
| Shareholder Type | Percentage of Ownership (as of July 2025) | Number of Shares Held |
|---|---|---|
| Institutional Investors | 83.49% | 160,749,086 |
| Company Insiders (including founder) | Significant Holdings | N/A |
| Public Float | Remaining Percentage | N/A |
The ownership structure of Veeva Systems is predominantly influenced by institutional investors, which collectively hold a substantial majority of the company's shares. While the founder maintains significant holdings, the day-to-day operations and strategic direction are largely shaped by these large investment entities. Understanding the Marketing Strategy of Veeva Systems can provide further insight into how these stakeholders influence its market approach.
Key Stakeholders in Veeva Systems
Veeva Systems' ownership is characterized by a strong presence of institutional investors and significant stakes held by company insiders, particularly its founder.
- Institutional Investors: As of July 2025, these entities own approximately 83.49% of Veeva's shares.
- Major Institutional Holders: Prominent among these are The Vanguard Group Inc., BlackRock, Inc., Fmr Llc, Alliancebernstein L.p., and T. Rowe Price Investment Management, Inc.
- Founder's Influence: The founder of Veeva Systems, Peter Gassner, retains significant influence through his holdings.
- Public Benefit Corporation Status: Veeva converted to a Public Benefit Corporation (PBC) on February 1, 2021, legally obligating it to balance shareholder interests with community benefits.
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Who Sits on Veeva Systems’s Board?
As of late 2024 and early 2025, Veeva Systems' strategic direction is guided by its Board of Directors and executive leadership. Peter Gassner, the founder and CEO, remains a significant stakeholder, indicating a strong alignment of interests with the company's performance. Gordon Ritter, a general partner at Emergence Capital, chairs the board.
| Role | Name | Affiliation |
|---|---|---|
| Founder & CEO | Peter Gassner | Veeva Systems |
| Chairman of the Board | Gordon Ritter | Emergence Capital |
| Chief Financial Officer (CFO) | Brent Bowman | Veeva Systems |
| Chief Information Officer (CIO) | Pinal Patel | Veeva Systems |
| Chief Operating Officer (COO) | Tom Schwenger | Veeva Systems |
Veeva Systems transitioned from a dual-class share structure to a single-class structure in October 2023. Previously, Class B shares held ten votes per share, while Class A shares had one vote per share, granting the founder, Peter Gassner, substantial voting power. Following the sunset provision, all Class B shares converted to Class A shares, establishing a one-share-one-vote system. This change is viewed as a positive development for governance, reducing potential conflicts and better aligning management with all shareholders.
Veeva Systems Governance Evolution
Veeva Systems has undergone a significant shift in its voting structure, impacting Veeva Systems ownership dynamics. This move towards a unified voting system enhances shareholder alignment.
- Transition from dual-class to single-class shares completed in October 2023.
- Class B shares converted to Class A shares, establishing one-share-one-vote.
- Peter Gassner, the Veeva Systems founder, previously held significant voting power.
- This governance change is considered a shareholder-friendly initiative.
- Understanding this history provides context for Veeva Systems stock ownership.
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What Recent Changes Have Shaped Veeva Systems’s Ownership Landscape?
Recent years have seen significant shifts in Veeva Systems' ownership structure and strategic direction. A key governance change in October 2023 transitioned the company to a single-class voting structure, removing the founder's super-voting rights and equalizing voting power among all shareholders.
| Fiscal Year | Total Revenue | Subscription Services Revenue | Operating Income |
|---|---|---|---|
| FY2025 | $2.746 billion (+16% YoY) | $2.284 billion (+20% YoY) | $691.4 million (+61% YoY) |
| Q1 FY2026 | (17% YoY growth) | (19% YoY growth) |
Financially, Veeva Systems has shown strong growth, with fiscal year 2025 revenues reaching $2.746 billion, a 16% increase year-over-year. Subscription services revenue also saw a substantial 20% rise to $2.284 billion. The company's operating income experienced a significant jump of 61% year-over-year, reaching $691.4 million in FY2025. This robust performance allowed Veeva to achieve its $3 billion annual run rate target ahead of schedule.
Strategic Partnership Evolution
Veeva announced in late 2022 the end of its 10-year partnership with Salesforce, effective September 2025. The company is transitioning its CRM to its own Vault platform, a move that began in 2024.
Platform Transition and Future Growth
Existing customers can continue using Veeva CRM on Salesforce until 2030, while new deployments will be on Vault. This strategic shift aims to enhance Veeva's ecosystem and product control.
Commitment to Public Benefit
Since adopting Public Benefit Corporation (PBC) status in February 2021, Veeva Systems is legally bound to balance shareholder interests with societal benefits. This status reinforces its long-term focus within the life sciences sector.
Innovation in AI
The company is set to release artificial intelligence features for its applications in December 2025. These advancements are designed to automate tasks and boost employee productivity in the life sciences industry.
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