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The Early Days: How Veeva Hit $100m ARR With Just $3m Raised — And a Deep Vertical Focus

  • Veeva, a dominant cloud software provider for life sciences, focused on pharmaceutical and biotech.
  • Started in 2007, Veeva hit $100m ARR with just $3m raised by being ultra-vertical.
  • Vertical focus brought regulatory moats, deep customer relationships, and higher switching costs.
  • Through extreme capital discipline, under-cover sales territories, and team building, Veeva excelled.
  • Lessons learned include the importance of premium pricing, profitable services, and team development.

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