Laserfiche WebLink
For many early stage cloud companies the go to <br />market approach is focused on gaining market <br />share at any cost, driving the need for material <br />capital infusions from investors and with little <br />regard to profitability or an operating model <br />that mimics a stable business. This wasn't the <br />approach Peter Gasner took when he started <br />Veeva. Founded in 2007 off of a small amount <br />of angel funding, Veeva's only VC investment <br />was a $4 million Seed round in 2008. Today, <br />Veeva has a $17 billion market cap, generates <br />$86o million in annual revenue, employs <br />over 2,500 workers and was recently ranked <br />the 2nd Fastest Growing Enterprise Software <br />Company of 2018 by Fortune Magazine. By <br />many metrics Veeva is the top technology <br />platform provider for the life science industry. <br />For Veeva, the goal was always to build <br />a sustainable company for the long haul <br />and capital efficiency became a core <br />business value. We spoke with CFO Tim <br />Cabral about what that really meant: <br />15 <br />Veeva's on Ly VC <br />investment was a $4 <br />million Seed round in <br />2008, Today, Veeva <br />has a $17 billion <br />market cap. <br />Q: Veeva is a high flying technology company, <br />and at the same time extremely profitable <br />even from the very beginning. What's the <br />secret? <br />1) Product Excellence and Pricing Discipline: <br />"One of our primary values we manage the <br />company by is customer success We felt like <br />the best way to optimize around customer <br />success was to build the best product in the <br />market and continue to innovate overtime - <br />always striving for product excellence. With that <br />approach, we're very disciplined on pricing. We <br />think about the different customer segments <br />in our market and are disciplined to have <br />consistent peer pricing. For companies that <br />are less disciplined, I think there is a potential <br />impact to their operating model over time." <br />2) Discipline in Professional Services: "We built <br />our professional services team with the intent <br />of it being a standalone business that needed <br />to drive an appropriate level of margin. For <br />many software companies, services are a loss <br />Leader, or breakeven at best, because they <br />may give it away just to help with the software <br />deal. We think about customer success and <br />understand that both our products and people <br />are important to our customers. Therefore, we <br />