Coveo

Coveo is a Quebec City-based enterprise software-as-a-service (SaaS) company that offers a cloud-based platform, 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 has software for e-commerce, customer service, and workforce proficiency.

Coveo Solutions Inc.
TypePublic
TSX: CVO
IndustryEnterprise software
Founded2005
Headquarters
Quebec City, Quebec, Canada
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+
Websitecoveo.com

History

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.[2] Louis Têtu, a Quebec native and former CEO of Taleo and Baan, joined Coveo in 2008 as CEO.[3] 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.[4] 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. As of June 2020, the company had over 500 employees.[5]

In July 2019, Coveo announced[6] the acquisition of Tooso, an AI-based digital commerce engines company. In October 2021, Coveo acquired[7] Qubit, in AI-powered personalization technology for merchandising teams.[8]

Investment

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.[9]

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.[10]

See also

References
  1. "Coveo Relevance Cloud". Coveo. Retrieved 2021-01-12.
  2. http://www.eweek.com/c/a/Enterprise-Applications/Copernic-Ready-to-Take-On-Google-In-Enterprise-Search-Product/
  3. Louis, Tetu (July 3, 2017). "Louis Tetu - LinkedIn Profile". LinkedIn.
  4. Couture, Pierre. "Coveo prend de l'expansion". Le Journal de Québec. Retrieved 2017-07-03.
  5. "Coveo". Craft.co. 2020-06-01. Retrieved 2020-06-20.
  6. https://finance.yahoo.com/news/coveo-acquires-tooso-expand-ai-120000554.html
  7. https://venturebeat.com/2021/10/15/ai-powered-personalization-provider-qubit-gets-acquired-by-coveo/
  8. https://www.coveo.com/en/pages/coveo-acquires-qubit-faq
  9. https://betakit.com/coveo-announces-100-million-investment-led-by-evergreen-coast-capital/
  10. Lunden, Ingrid (6 November 2019). "Coveo raises US$172M at $1B+ valuation for AI-based enterprise search and personalization". TechCrunch. Retrieved 6 November 2019.
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