Coveo

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Coveo Solutions Inc.
TypePrivate
IndustryEnterprise software
Founded2005
Headquarters
Key people
Louis Têtu, Chairman and CEO
Laurent Simoneau, Founder, President, and CTO
ProductsCoveo Relevance Cloud,
Coveo Platform,
Coveo for Salesforce,
Coveo for ServiceNow,
Coveo for Microsoft Dynamics,
Coveo for Commerce,
Coveo for Sitecore
Number of employees
600+
Websitehttps://www.coveo.com

Coveo is a Quebec City-based enterprise software-as-a-service (SaaS) company that offers a cloud-based platform for making digital experiences more intelligent, and provides specific software built on that platform. The Coveo Relevance Cloud™[1] utilizes search, analytics, and machine learning technologies to unify disparate content and data, to automate the delivery of relevant, personalized information. Coveo provides solutions[buzzword] for ecommerce, customer service, and workforce proficiency. The company is recognized as a Leader in the Gartner Magic Quadrant for Insight Engines,[2] a Leader in The Forrester Wave™: Cognitive Search,[3] and a Strong Performer in The Forrester Wave™: Journey Orchestration Platforms.[4]

History[edit]

Coveo Solutions Inc. was founded in 2005 as a spin-off of Copernic Technologies Inc by Laurent Simoneau, Richard Tessier, and Marc Sanfaçon. Laurent Simoneau, Coveo's president and chief executive officer was formerly Copernic's chief operating officer. About 30 employees moved into the new company, with offices at that time in Quebec City and in Palo Alto, California.[5] Louis Têtu, a Quebec native and former CEO of Taleo and Baan, joined Coveo in 2008 as CEO.[6] In 2017, Coveo invested 5 million dollars Canadian into opening up an office in Montreal, with 25 new hires, and approximately 25 more planned for the office at the time.[7] Since then, well over a hundred new employees have joined the Montreal office, which has expanded onto additional floors of the historic Gare Windsor building. The company now employs over 500 employees.[8]

In July 2019, Coveo announced[9] the acquisition of Tooso, an AI-based digital commerce engines company, to accelerate and expand its capabilities for the digital commerce market. By integrating Tooso's team and technology into Coveo, the company was looking to strengthen its ability to enable retailers to deliver experiences matching their shoppers’ rising expectations.

Investment[edit]

In April 2018, Evergreen Coast Capital led a $100 million investment into Coveo. With this investment, Bill Shaheen of Evergreen, joined the Coveo board of directors.[10]

Coveo also received another round of funding in November 2019 for $227 million Canadian lead by OMERS Private Equity yielding a valuation of $1 billion US.[11]

See also[edit]

References[edit]

  1. ^ "Coveo Relevance Cloud". Coveo. Retrieved 2021-01-12.
  2. ^ "Coveo Named a Leader in 2019 Gartner Magic Quadrant for Insight Engines". Coveo. 2019-09-19. Retrieved 2020-06-26.
  3. ^ "Mike Gualtieri's Blog". blogs.forrester.com. Retrieved 2017-07-03.
  4. ^ Tetu, Louis (2020-06-15). "Coveo Named a Strong Performer in The Forrester Wave™: Journey Orchestration Platforms, Q2, 2020". Coveo Blog. Retrieved 2020-06-26.
  5. ^ http://www.eweek.com/c/a/Enterprise-Applications/Copernic-Ready-to-Take-On-Google-In-Enterprise-Search-Product/
  6. ^ Louis, Tetu (July 3, 2017). "Louis Tetu - LinkedIn Profile". LinkedIn.
  7. ^ Couture, Pierre. "Coveo prend de l'expansion". Le Journal de Québec. Retrieved 2017-07-03.
  8. ^ "Coveo". Craft.co. 2020-06-01. Retrieved 2020-06-20.
  9. ^ https://finance.yahoo.com/news/coveo-acquires-tooso-expand-ai-120000554.html
  10. ^ https://betakit.com/coveo-announces-100-million-investment-led-by-evergreen-coast-capital/
  11. ^ Lunden, Ingrid (6 November 2019). "Coveo raises US$172M at $1B+ valuation for AI-based enterprise search and personalization". TechCrunch. Retrieved 6 November 2019.