Coveo provides a cloud-based enterprise relevance platform that uses artificial intelligence and machine learning to deliver personalized search, recommendations, and analytics. Its technology helps organizations extract contextually relevant insights from structured and unstructured data.
The platform is widely used across industries such as retail, healthcare, manufacturing, and professional services to improve digital experiences, contact center efficiency, and enterprise information discovery.
What Is Coveo and What Does It Do?
Coveo, founded in 2005, is a Quebec City–based (Canada) enterprise software company specializing in AI-powered search and relevance solutions. The company builds cloud-based platforms that analyze large volumes of enterprise data and deliver personalized insights across digital touchpoints.
Coveo employs approximately 776 people as of December 2024 and serves global enterprises seeking intelligent search, recommendation, and analytics capabilities.
How Much Funding Has Coveo Raised?
1. Series F
- Amount Raised: $173M
- Date: November 2019
- Lead Investors: OMERS, Fonds de solidarité FTQ, Investissement Québec, Elliott Management
- Motivation: To accelerate global expansion and strengthen AI-driven relevance technology.
2. Series E
- Amount Raised: $9M
- Date: September 2018
- Lead Investors: Pelion Venture Partners
- Motivation: To enhance product development and enterprise market penetration.
Total Funding Raised: $358 Million
Latest Funding Date: November, 2019
Key Investors
1. OMERS
- Details: One of Canada’s largest pension funds investing in long-term growth companies.
- Investment Focus Areas: Technology, infrastructure, healthcare, financial services.
- Notable Investments: Coveo, Shopify, Lightspeed Commerce.
2. Elliott Management
- Details: Global investment firm managing assets across private and public markets.
- Investment Focus Areas: Technology, enterprise software, industrials.
- Notable Investments: Coveo, Salesforce, SAP-linked funds.
3. Fonds de solidarité FTQ
- Details: Quebec-based development capital fund supporting local innovation.
- Investment Focus Areas: Technology, manufacturing, life sciences.
- Notable Investments: Coveo, Lightspeed, Dialogue.
4. Investissement Québec
- Details: Government-backed investment organization supporting Quebec-based companies.
- Investment Focus Areas: Technology, industrial innovation, export-driven growth.
- Notable Investments: Coveo, Element AI, Lion Electric.
Where Is Coveo’s Headquarters?
Coveo is headquartered in Quebec City, Canada, serving as its central hub for research, AI innovation, and global enterprise operations.
What’s Next for Coveo?
Coveo is expected to deepen its focus on AI-driven relevance, generative search, and personalization across commerce and customer service platforms. With increasing enterprise demand for contextual intelligence and AI-powered discovery, the company is well-positioned to expand partnerships, enhance product capabilities, and grow its global footprint as a public technology leader.
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