Coveo, a provider of AI SaaS enterprise solutions, secured a further $227m in funding.
The round was led by Omers Growth Equity with participation from Evergreen Coast Capital, FSTQ, and IQ. The equity investment by these shareholders represents a 15.5% stake in the company. Following the close of the transaction, Mark Shulgan, Managing Director and Head of Growth Equity at OMERS, will join the Coveo Board of Directors.
The company intends to use the funds to expand operations and its business reach.
Led by Louis Tetu, CEO and Chairman, Coveo uses AI and intelligent search technologies to personalize millions of digital experiences for customers, partners, dealers, and employees. The company combines unified content, unified interactions and machine learning to deliver relevant information and recommendations across every business interaction.
Coveo is also embedded in many business applications from vendors including Salesforce, ServiceNow, Sitecore, Dynamics and more.
The company has more than 1,500 deployments in mid-to-large sized global organizations across multiple industries and 500 employees in Quebec City, San Francisco and London, and Montreal.