Veeva IPO’d

Veeva CRM is a well-known name in the pharma space. Veeva CRM successfully uses an extended framework of applications on platform and its own applications on integrated servers, to provide a comprehensive, pharma-focused solution that is hard to beat. This success showed off in the IPO in style.

Courtesy: Veeva Systems

Veeva’s IPO raised 217M and the stock jumped 80%+ on the first day of trading – all despite the not-so-good-news off the stock market nowadays. Although this is no barometer of success, it certainly indicates the interest in a not-so-big cloud company that is making a solid profit today.

And, of course, I also came to know the breadth of its operations – Veeva has more than 150 customers, which includes Pfizer, Eli Lilly, Novartis and Genentech.