Fortune

CHALLENGERS

COMPANIES THAT HAVEN’T YET REACHED THE TOP TIER OF MARKET VALUE, BUT ARE ON THE GROWTH FAST TRACK.

Market values as of Oct. 9, 2017; source: S&P Global

01 VEEVA SYSTEMS

Enterprise software company Veeva has become an indispensable nucleus for the life sciences industry, helping Big Pharma manage customer databases, track drug developments, and organize clinical trials. Revenues rose by 33% last year to $544 million, as the likes of Abbott, Merck, and Pfizer employed a suite of its cloud-based offerings. Vault, its new content management system, is already being used by 35 of the top 50 pharma companies. The platform could help Veeva take a bigger chunk of the global life sciences applications market, forecast to reach $6.8 billion in sales by 2020.

Recent market value: $8.2 billion

02 WORKDAY

Hostile takeovers can lead to new beginnings—just ask Dave Duffield, whose software company PeopleSoft was acquired by Oracle in 2004. Duffield and cofounder Aneel Bhusri pivoted and launched Workday, providing cloud-based, easy-to-use software for HR and finance departments. In just 12 years, companies from Amazon to Walmart have bought into Workday’s array of applications, resulting in a record $1.57 billion in revenue last year and a soaring market value. Workday is now using machine learning to analyze a mountain of data on workers. Its recently released Insight Applications, for example, can predict employee attrition and identify travel expense abuse.

Recent market value: $22.6 billion*

03 GRUBHUB

What started as a simple way to order food from Chicago restaurants has grown into an online food-delivery empire worth over $4 billion. Since its merger with Seamless in 2013, Grub-hub—which also owns brands like AllMenus and MenuPages—has enjoyed 53% year-over-year growth in revenue and made takeout as simple as a tap on an app. With 55,000 restaurants in over 1,200 U.S. cities and London, the next challenge is to hold off megacompetitors like Amazon and

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