Coveo, a Canadian

software as a service Software as a service (SaaS ) is a cloud computing service model where the provider offers use of application software to a client and manages all needed physical and software resources. SaaS is usually accessed via a web application. Unlike o ...

(SaaS) company that provides

e-commerce E-commerce (electronic commerce) refers to commercial activities including the electronic buying or selling products and services which are conducted on online platforms or over the Internet. E-commerce draws on technologies such as mobile co ...

and enterprise search software for ecommerce, customer service, digital workplaces, and websites. As of June 2020, the company had over 500 employees.

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 Quebec City is the capital city of the Provinces and territories of Canada, Canadian province of Quebec. As of July 2021, the city had a population of 549,459, and the Census Metropolitan Area (including surrounding communities) had a populati ...

and in

Palo Alto, California Palo Alto ( ; Spanish language, Spanish for ) is a charter city in northwestern Santa Clara County, California, United States, in the San Francisco Bay Area, named after a Sequoia sempervirens, coastal redwood tree known as El Palo Alto. Th ...

. Louis Têtu, a Quebec native and former CEO of

Taleo Taleo Corporation was a publicly traded database vendor based in Dublin, California, which was acquired by Oracle in 2012. Taleo's product offerings primarily focus on talent acquisition (recruitment), performance management, learning and devel ...

and Baan, joined Coveo in 2008 as CEO. In 2017, Coveo invested 5 million Canadian dollars into opening up an office in Montreal, with 25 new hires, and approximately 25 more planned for the office at the time. Since then, over a hundred new employees joined the Montreal office, which expanded onto additional floors of the historic Gare Windsor building. In July 2019, Coveo announced the acquisition of Tooso, an AI-based digital commerce engines company. In October 2021, Coveo acquired Qubit, in AI-powered personalization technology for merchandising teams.

Funding

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. Coveo received another round of funding in November 2019 for $227 million Canadian dollars led by OMERS Private Equity, resulting in a valuation of the company at $1 billion US.

Products

The company provides an internal automated search tool called Coveo Platform that helps business use its internal data to optimise work flow and customer recommendations through transaction analysis. The software can be integrated and use data from a number of enterprise software platforms. It has created Coveo for SAP Commerce, Coveo for Salesforce, Coveo for ServiceNow, Coveo for Microsoft Dynamics, Coveo for Commerce, and Coveo for Sitecore.

References

{{reflist Companies listed on the Toronto Stock Exchange Organizations based in Quebec City Information retrieval organizations BlackBerry development software

History

Funding

Products

See also

References