SmithRx vs Veeva Systems
Side-by-side comparison of AI visibility scores, market position, and capabilities
SmithRx is a San Francisco-based modern PBM founded in 2016 with ~$105M raised; operates on a 100% pass-through model with zero spread pricing; reduces employer drug costs by an average of 30%;
About
SmithRx is a San Francisco-based pharmacy benefits manager (PBM) founded in 2016 by Jake Frenz with a mission to eliminate the opacity, conflicts of interest, and hidden revenue practices that characterize the legacy PBM industry. Operating on a fully transparent, fiduciary-aligned model, SmithRx passes through 100% of rebates and discounts to its employer clients, charges flat administrative fees rather than spread pricing, and provides detailed, auditable reporting on every pharmacy transaction — a stark departure from the "black box" model used by the three dominant PBMs (CVS Caremark, Express Scripts, and OptumRx) that collectively control approximately 80% of the U.S. prescription drug market.
Veeva Systems (VEEV) reported $2.7B revenue in FY2025, up 14% YoY. #1 cloud platform for life sciences. ~8,000 employees. HQ: Pleasanton, CA. Market cap ~$40B.
About
Veeva Systems Inc. is the leading cloud software provider for the global life sciences industry, headquartered in Pleasanton, California. Founded in 2007 by Peter Gassner (a former Salesforce executive) and Matt Wallach, Veeva built its platform on Salesforce and later developed its own Vault cloud infrastructure. The company became a public benefit corporation (PBC) in 2021. Veeva reported revenues of $2.7B in fiscal year 2025 (ending January 2025), up 14% year-over-year, with a market capitalization of approximately $40B.
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