Welcome!

Cloud Expo Authors: Dmitry Sotnikov, Sematext Blog, Srinivasan Sundara Rajan, Andreas Grabner, Elizabeth White

News Feed Item

Coveo Announces $18 Million Funding Led by Tandem Expansion Fund

Funding Fuels Growth as Demand Increases for Solutions That Create Greater Insights From Big Data and Improve Customer Engagement

QUEBEC -- (Marketwire) -- 12/10/12 --


  • Coveo announced today that it has secured $18 million in funding, in a round led by Tandem Expansion Fund, Canada's largest late-stage technology investment firm. All major existing investors also participated in the round, including BDC Venture Capital, Propulsion Ventures SEC and Fonds de solidarité FTQ.

  • The funding will support Coveo's expansion as the market continues to heat up for solutions that enable actionable insight from Big Data. Coveo's advanced search technology redefines how people access fragmented information and collaborate around the social enterprise. Organizations are increasingly data-rich but insight-poor, fueled in large part by the data variety explosion, the inability to integrate information from legacy systems, exponentially growing social media, and the move of many organizational systems to the cloud. Coveo brings together this collective knowledge for every user, giving them actionable insights into customers, products, projects, people and more.

  • The company has grown significantly during the past several years, including several year-over-year quarters in 2012 of 80 to 100 percent growth in license revenue, and has been operating at or close to profitability. This funding will be used to expand Coveo's sales and marketing efforts, and to help scale operations in advance of anticipated hyper growth.

  • Coveo recently launched Coveo for Salesforce, a cloud-based application integrated into the Salesforce.com UI which brings the collective knowledge to every Salesforce user, delivering actionable insights for every customer interaction. Coveo automatically recommends content relevant to what the user is working on, whether that is an account, a lead, an opportunity or a case. It consolidates fragmented information from across a variety of cloud-based and social platforms, or on-premise databases or systems. Coveo for Salesforce is currently available for free trial via www.coveo.com, and is expected to be available via the Salesforce AppExchange within the next few weeks.

  • Tandem Managing Director Andre Gauthier joins the Coveo Board of Directors concurrent with the funding. Mr. Gauthier has significant experience in financial management including multi-jurisdiction mergers and acquisitions, investor relations, reporting, corporate governance and regulatory compliance of U.S. and Canadian listed companies. Gauthier was executive vice president and CFO of Telesystem International Wireless Inc. ("TIW") until it was sold to Vodafone Group Plc ("Vodafone") in a transaction valued at U.S. $4.5 billion.

Supporting Quotes:

  • Andre Gauthier, Managing Director, Tandem Expansion Fund: "Our investment philosophy is to find great companies at a stage where they are ready to take their growth to the next level. Coveo has invested heavily in its technology, the market timing is a perfect storm for solutions that enable greater insight into highly fragmented data, and its customers rave about the ROI of the technology. We think Coveo is about to experience explosive growth."

  • Louis Têtu, Chairman and CEO, Coveo: "Companies are struggling mightily with big, fragmented data, and are recognizing the need for powerful information access and consolidation technologies like never before. This is a major shift brought on by the need to better engage with customers, ensuring that every customer experience is more relevant and additive. The goal of the social enterprise is to connect customers and people at the center of all operations, and this is what Coveo enables through information."

About Tandem Expansion Fund
Tandem is a growth equity investor in Canadian technology businesses. Tandem is committed to helping Canadian companies and their management team to reach their full potential. Beyond capital, Tandem helps to make things happen by contributing its experience in building companies, its relationships and its proven ability to create value. Tandem values integrity, trust, openness and long-term relationships. For more information regarding Tandem, and to contact the Fund regarding investment opportunities: www.tandemexpansion.com. Other late-stage companies in the Tandem Expansion fund portfolio include Beyond the Rack, CiRBA, Acquisio and Solace Systems.

About Coveo
Coveo search technology redefines how people access and share fragmented knowledge around the social enterprise. Coveo brings together the collective and yet fragmented information from social, enterprise and cloud-based systems, and makes it relevant to every user and customer, every time. Coveo connects people to contextual content, and through content, to relevant people. This enables more efficient customer service, increased sales, shorter sales cycles, faster innovation for better product development and increased profitability. Coveo's advanced search and unified indexing technology securely connects with and crawls all systems to create a virtual integration layer, by federating and normalizing structured and unstructured information.

The Company's lines of business bring relevant insight to CRM for Sales & Customer Service, Web Content Management systems for personalized online experiences, and Enterprise Content so that engineering and operations can tap into content and stop reinventing the wheel. Among Coveo's more than 400 customers are CA Technologies, Lockheed Martin, YUM! Brands, GEICO and Boston Children's Hospital. For more information, visit www.coveo.com, follow us on Twitter @coveo or like us on Facebook.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@CloudExpo Stories
Building low-cost wearable devices can enhance the quality of our lives. In his session at Internet of @ThingsExpo, Sai Yamanoor, Embedded Software Engineer at Altschool, provided an example of putting together a small keychain within a $50 budget that educates the user about the air quality in their surroundings. He also provided examples such as building a wearable device that provides transit or recreational information. He then reviewed the resources available to build wearable devices at ...
IBM has announced software that allows people to hide or anonymize their personal information on the Web, ensuring protection from identity theft and other misuse. Developed by researchers at IBM's laboratory in Zurich, Switzerland, the software – called Identity Mixer – will enable consumers to purchase goods and services on the Internet without disclosing personal information. As consumers hand over personal details in exchange for downloading music or subscribing to online newsletters, they...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...
DevOps is all about agility. However, you don't want to be on a high-speed bus to nowhere. The right DevOps approach controls velocity with a tight feedback loop that not only consists of operational data but also incorporates business context. With a business context in the decision making, the right business priorities are incorporated, which results in a higher value creation. In his session at DevOps Summit, Todd Rader, Solutions Architect at AppDynamics, discussed key monitoring techniques...
Mobile commerce traffic is surpassing desktop, yet less than 20% of sales in the U.S. are mobile commerce sales. In his session at 15th Cloud Expo, Dan Franklin, Segment Manager, Commerce, at Verizon Digital Media Services, defined mobile devices and discussed how next generation means simplification. It means taking your digital content and turning it into instantly gratifying experiences.
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core...
NuoDB just introduced the Swifts 2.1 Release. In this demo at 15th Cloud Expo, Seth Proctor, CTO of NuoDB, Inc., discussed why scaling databases in the cloud is challenging, why building your application on top of the infrastructure that is designed with this in mind makes a difference, and what you can do with NuoDB that simplifies your programming model, your operations model.
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
“We are a managed services company. We have taken the key aspects of the cloud and the purposed data center and merged the two together and launched the Purposed Cloud about 18–24 months ago," explained Chetan Patwardhan, CEO of Stratogent, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
CA Technologies released a new study – “DevOps: The Worst-Kept Secret to Winning in the Application Economy” – that reveals that 82% of enterprises in Asia Pacific and Japan (APJ) already have or plan to adopt a DevOps strategy, a 12 point increase from last year’s figure of 70%. DevOps is a methodology which helps foster collaboration between the teams that create and test applications (Dev) with those that maintain them in production environments (Ops). Vanson Bourne conducted the survey with...
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With "smart" appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user's habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps,...
“The year of the cloud – we have no idea when it's really happening but we think it's happening now. For those technology providers like Zentera that are helping enterprises move to the cloud - it's been fun to watch," noted Mike Loftus, VP Product Management and Marketing at Zentera Systems, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. Acco...
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile ...
"SOASTA built the concept of cloud testing in 2008. It's grown from rather meager beginnings to where now we are provisioning hundreds of thousands of servers on a daily basis on behalf of customers around the world to test their applications," explained Tom Lounibos, CEO of SOASTA, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"Verizon Digital Media Services is responsible for the broadcast, video and content delivery network that accelerates, scales and helps our customers reach end users with all kinds of video and web content," stated James Segil, CMO of Verizon Digital Media Services, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.