Coveo Sees Strong Momentum Helping Companies Generate Actionable Insight from Big, Unstructured and Structured Data
Coveo sees increased market adoption of Unified Indexing and Insight platform as executives begin to understand that search is how information is accessed in the 21st century
QUEBEC – February 6, 2013
- Coveo today announced it achieved several major milestones in 2012, led by rapidly accelerating demand for the company’s highly advanced Enterprise Search technology, built on its award-winning Unified Indexing and Insight platform. Milestones in 2012 included record-setting revenues, cutting-edge product development and multiple industry recognitions.
2012 Adoption and Growth
- During 2012 Coveo achieved consecutive growth, quarter-over-quarter that built throughout the year. The fourth quarter of 2012 was the highest-grossing quarter in the company’s history, capping off 40 percent year-over-year growth for the quarter and the year. During 2012, Coveo saw accelerating market adoption of its Unified Indexing and Insight platform, including new brands such as Apex Analytics, Fortinet, FM Global, Golder Associates, Harris Corporation, L’Oreal Switzerland, 3i Group, SOGIQUE, SunGard, and Tokyo Electron Limited (TEL), among many others.
- To support its growing customer base and new phase of growth, Coveo welcomed cloud technology veteran Guy Gauvin as its Chief Operating Officer in September.
- Coveo maintained a rapid pace of innovation in 2012 with the launch of Coveo for Salesforce, an application that transforms service performance. Embedded within the Salesforce Service Cloud User Interface, the application automatically “reads” case information and recommends relevant content and experts to help the agent solve each case quickly and effectively, regardless of where the information resides. Coveo solves the challenge of information fragmentation – in social media, the cloud, and in enterprise systems – by instantly assembling and presenting the most relevant information based on the user’s context. Deeply embedded in Salesforce and configured specifically for Service Cloud, it solves the pain of users leaving Salesforce to access information from multiple other systems, as well as seeking data from throughout the Salesforce infrastructure. Agents solve customer challenges faster, reducing costs and increasing customer satisfaction.
New Round of Investment
- Coveo secured $18 million in funding in December 2012 in a round led by Tandem Expansion Fund, Canada’s largest late-stage technology investment firm. The investment supports Coveo’s expansion as the market continues to grow for solutions that enable actionable insight from Big Data.
Industry Awards & Recognition
Industry organizations and the media credited Coveo in 2012 as a technology visionary:
- TSIA Fall 2012 TechBEST Best in Show at the Technology Services World (TSW) 2012 Service Transformations conference, as voted by the attendees.
- Bronze Stevie® Award for the “Best New Software Product or Service of the Year” in the Annual International Business Awards.
Partnerships & Support
- In 2012, Coveo and Sitecore announced a renewed partnership following a solid record of successful joint implementations. The two companies have partnered to bring more personalized website search, increased relevance and advanced customer engagement to more than 80 customer projects, including GE Healthcare, CA Technologies, PFC Energy and Think Mutual Bank. The Sitecore partnership is an indispensable element in Coveo’s strategy to help end users around the world gain the right insight to accomplish their goals.
- Louis Tetu, Chairman and CEO, Coveo: “To say that 2012 was an exciting year for Coveo is an understatement, particularly with the launch of Coveo for Salesforce – a true game changer. We helped more companies overcome the ‘Insight Deficit’ of overwhelming, fragmented and disparate data—caused by the perfect storm of Big Data, exploding social media content and the move of many IT systems to the cloud. Hundreds of Coveo customers around the globe are leveraging collective knowledge to better serve their own customers, increase product innovation and quality, and help employees make more informed decisions. In 2013, our goal is to help our growing number of customers derive actionable insights from their existing data to gain a competitive advantage.”
Coveo’s advanced, Unified Indexing and Insight platform redefines how people access and share fragmented knowledge around the social enterprise. Coveo brings together the collective and yet fragmented information from social, on-premise, and cloud-based systems, and makes it actionable for 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, Unified Indexing and Insight platform 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 actionable insight to Customer Service operations, high-end websites for personalized online experiences, and advanced enterprise search initiatives, so that all knowledge workers can tap into the collective knowledge and stop reinventing the wheel. More than 2,000,000 people globally and more than 400 companies use Coveo to achieve their business goals. Among Coveo customers are CA Technologies, L’Oreal Switzerland, Lockheed Martin, YUM! Brands, GEICO and SunGard. For more information, visit www.coveo.com, follow us on Twitter @coveo or like us on Facebook.
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