Brainchild of Wallingford Native, Veeva Systems Formulates Billion-Dollar Future

By

Matt Wallach.
Matt Wallach

Concocted by a business-minded Delaware County native and cultured in Silicon Valley, Veeva Systems has grown into an unstoppable biotech cloud computing giant that’s intent on becoming a multibillion-dollar global leader by 2020.

Matt Wallach, who grew up in Wallingford and graduated from Strath Haven High School in 1990, co-founded Veeva as a unique hybrid to leverage deep expertise in both pharmaceuticals and technology. Although based in Silicon Valley, it maintains key offices in the heart of pharma territory, Radnor and Fort Washington.

And that uniqueness has prevented anyone else from touching its niche.

“If you were to start a company with modern technology to try to compete against Veeva, it’s hard because we have a very broad suite of products,” Wallach said in a Philadelphia Business Journal report by Michelle Caffrey.

“It would take 10 years to build all of the products Veeva has, and by then, we would have more customers, more success stories, more products, and better products. Nobody has a product breadth of what we have, and ours spans both commercial and R&D. There is no other company that is actively enhancing and developing products in both.”

Veeva initially predicted its $1 billion milestone would be achieved by 2020, but now it’s setting its sights even higher.

“I don’t worry about $1 billion,” said Wallach, who has a bachelor’s degree from Yale and an MBA from Harvard. “My and (fellow co-founder) Peter (Gassner)’s job is to make sure when we get to $1 billion, our growth rate is still very, very high so that we get to $2 billion, $3 billion, $4 billion.”

Read more about Veeva’s Philly roots and its billion-dollar future in the Philadelphia Business Journal here.

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