Coveo, a recognized leader in intelligent search, achieved yet another consecutive record-breaking quarter for CY Q1 2016. Coveo reported CY Q1 2016 revenue bookings growth of 107 percent and GAAP revenue growth of 109 percent over CY Q1 2015.
“This is an exciting time for Coveo with our significant technology advances in machine learning, analytics, and search intelligence in the cloud,” said Louis Tetu, Coveo CEO. “Our financial performance in Q1 was exceptional, with record growth and high levels of efficiency in our sales and marketing investments. Moving forward we will invest even more in sales and marketing as the importance of our technology for businesses has been well proven and our efficiency metrics will scale in a very healthy fashion to accelerate our already fast growth. In fact, we are investing in all areas of the business and currently have about 70 job openings.”
Coveo plans to open new offices in Montreal and Silicon Valley, expand its R&D headquarters in Quebec City, and hire an additional 70 staff this year. Coveo recently announced the appointment of Mark Floisand as CMO, reporting to Coveo Chairman and CEO Louis Tetu, and the appointment of Mark Pumper as VP Sales North America, reporting to SVP Sales Bob Walmsley. Floisand has over 20 years of marketing, sales and general management experience in the enterprise and cloud software industry, spanning blue chip and start-up companies across three continents, including Apple, Adobe, BusinessObjects and SAP, most recently with Sitecore, a Coveo technology partner, where he led product marketing globally. Pumper joins Coveo from SumTotal Systems, where he was VP Sales. Prior to that, he was RVP Sales – Enterprise HCM with Oracle Taleo.
“Mark’s substantial application sales experience will guide and support our talented North American sales team as we continue to achieve new milestones of growth,” said Walmsley. “We welcome him to the team.”
Expansion of key verticals
During CY Q1 2016 Coveo expanded its key verticals with multiple new customers in energy, healthcare, financial services and technology, along with significant customer expansions. Among them are Adobe Systems, Ansell Healthcare, Avid Technology and Forcepoint, among many others.
Award-winning technology across the board
Coveo collected multiple technology awards in CY Q1 2016, attesting to the company’s rapid advances in machine learning, analytics and intelligent cloud search. Among the awards were:
Coveo helps companies better engage customers and upskill employees with the best information, everywhere they work and interact. Coveo Intelligent Search responds relevantly to every question, proactively suggests related content and experts, and predicts what’s important to each person based on analytics and machine learning. Recognized as the Most Visionary Leader in Enterprise Search and as a leader in Big Data Search and Knowledge Discovery, Coveo helps companies to succeed at self-service, create high performance contact centers, and cultivate company-wide collaboration. With the search industry’s highest security standards, broadest connectivity and self-learning relevance, Coveo removes complexity to make intelligent search work, quickly and effectively, across cloud and on-premise systems. Coveo has more than 1500 activations in mid-to-large sized, global organizations across multiple industries. Coveo partners with some of the world’s largest enterprise technology ecosystems, where insights from outside the platform are critical to delivering a unified, engaging experience for their customers. For more information, please visit www.coveo.com and follow us on the Coveo blog, LinkedIn, Twitter, and YouTube.
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