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Coveo is a technology company.
Coveo has raised $388.0M across 6 funding rounds.
Key people at Coveo.
Coveo was founded in 2005 by 1.7 (Co-Founder).
Coveo has raised $388.0M in total across 6 funding rounds.
Coveo is valued at approximately $11.0M.
Coveo delivers an AI-powered platform specializing in enterprise search and personalization. Its core offering provides businesses with intelligent search, recommendations, and discovery tools to create tailored digital experiences for customers, partners, and employees. The platform leverages artificial intelligence to analyze vast amounts of data, surfacing relevant information and insights across e-commerce, customer service, and digital workplace environments, thereby enhancing overall engagement and operational efficiency.
The company was founded in Quebec City, Canada, in 2005 by co-founders Laurent Simoneau and Richard Tessier. Simoneau, now CEO, and Tessier, Senior Vice President of Products, initially conceived of transforming how organizations access and utilize information, evolving from an earlier spin-off from the desktop search company, Copernic. Their vision centered on making complex information readily accessible and actionable through advanced search technologies.
Coveo's solutions are employed by a range of enterprises seeking to optimize their digital interactions. The company's overarching mission is to empower these organizations to maximize business outcomes by harnessing the power of AI, fostering a business-to-person approach. Coveo envisions accelerating the application of AI to help companies personalize and profit from every digital experience, ultimately enhancing the value derived from their data.
Coveo was founded in 2005 by 1.7 (Co-Founder).
Coveo has raised $388.0M in total across 6 funding rounds.
Coveo is valued at approximately $11.0M.
Coveo's investors include OMERS, Evergreen Coast Capital, IQ, Elliott Management, Bill Shaheen, Pierre-Gabriel Côté, Louis Tetu, BDC Capital, Propulsion Ventures SEC, Tandem Expansion Fund, Andr Gauthier, BDC Venture Capital.
Key people at Coveo.
Coveo Solutions Inc. is a Canadian SaaS company specializing in AI-powered search, recommendations, and generative experiences for enterprises. It builds the Coveo AI-Relevance Platform, a cloud-based solution that unifies data from multiple sources to deliver personalized search results, content recommendations, and insights across customer service, e-commerce, workplaces, and websites[1][3][5][6]. Serving billion-dollar enterprises like Dell, Salesforce, Cisco, and industries including retail, tech, finance, and manufacturing, Coveo solves the problem of fragmented data silos by providing contextual relevance through machine learning, reducing case submissions by up to 31%, boosting engagement by 55%, and saving hundreds of thousands of employee hours[2][3][4]. Its subscription-based model offers integrations like Coveo for Salesforce, Sitecore, and Microsoft Dynamics, enabling scalable personalization without overhauling existing tech stacks, with strong growth evidenced by unicorn valuation in 2019 and acquisitions like Tooso and Qubit[1][5].
Coveo was founded in 2005 in Quebec City, Canada, as a spin-off from Copernic Technologies by Laurent Simoneau (current President and CEO, formerly Copernic's COO), Richard Tessier, and Marc Sanfaçon, with about 30 employees transitioning and an initial office in Palo Alto[1][5]. The idea emerged from Copernic's search expertise, evolving into enterprise-focused AI solutions for e-commerce, customer service, and digital workplaces. Key milestones include a $100 million investment led by Evergreen Coast Capital in 2018, a $227 million CAD round in 2019 valuing it at $1 billion USD led by OMERS Private Equity, and strategic acquisitions: Tooso (AI commerce engines, 2019) and Qubit (personalization tech, 2021), expanding its platform capabilities[5].
Coveo rides the GenAI and AI-agent wave in digital experiences, capitalizing on the shift from generic search to hyper-personalized, connected interactions amid exploding enterprise data volumes[3][7]. Timing aligns with self-service demands and AI adoption challenges like data silos and trust—market forces like rising customer expectations for intuitive e-commerce/customer service (74% revenue potential via GenAI) favor its relevance-focused platform over siloed tools[3][4][7]. It influences the ecosystem by enabling leaders like Salesforce to turn support into advantages, fostering AI-experience standards through 500+ employees and billions of interactions, while unifying content across channels to break silos[2][5][8].
Coveo is positioned to dominate composable AI search as enterprises scale GenAI for commerce, service, and workplaces, with expansions into more integrations and global reach. Trends like agentic AI, zero-party data personalization, and regulatory pushes for trustworthy AI will amplify its edge, potentially driving further acquisitions or IPO momentum post-unicorn status. Its evolution from search pioneer to experience platform ties back to unlocking data value—expect Coveo to redefine relevance as the "central nervous system" for digital enterprises[3][8].
Coveo has raised $388.0M across 6 funding rounds. Most recently, it raised $227.0M Other Equity in November 2019.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Nov 6, 2019 | $227.0M Other Equity | OMERS | Evergreen Coast Capital, IQ |
| Nov 1, 2019 | Coveo Valuation 2019-11-01 | Evergreen Coast Capital, Elliott Management, Bill Shaheen | |
| Apr 4, 2018 | $100.0M Other Equity | Elliott Management, Bill Shaheen | |
| Nov 5, 2015 | $35.0M Series D | Pierre-Gabriel Côté | Louis Tetu, BDC Capital, Propulsion Ventures SEC, Tandem Expansion Fund |
| Dec 10, 2012 | $18.0M Other Equity | Andr Gauthier | BDC Capital, Propulsion Ventures SEC |
| Dec 1, 2009 | $8.0M Series B | BDC Venture Capital | Louis Tetu, Propulsion Ventures SEC |