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Emergence-Backed Veeva Systems, Inc. Seen Seeking $2 Billion Valuation With IPO


3/12/2013 8:12:28 AM

Pharmaceutical sales software developer Veeva Systems is reportedly planning an IPO this year that could give it a $2 billion valuation. Bloomberg cited unnamed sources who said the Pleasanton-based company led by co-founder and CEO Peter Gassner is meeting with banks. Gordon Ritter of Emergence Capital Partners, whose firm backed Veeva and is on the company's board, told Bloomberg that the company's business model is better positioned than Salesforce was when Marc Benioff started that customer relationship management. Ritter co-founded a precursor of Salesforce with Benioff and Emergence was one of the early backers of that company.

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