Coveo Raises $18m for Big Data Platform

Big data analysis specialist Coveo has raised $18m in funding, which it will use to expand its sales and marketing activities, while scaling operations in preparation for growth.

Quebec-based Coveo offers enterprise search and analytics technology to refine how people access structured and unstructured business data. The latest funding - which brings its total raised to date to $34.7m - has been led by Canadian technology investment firm Tandem Expansion Fund, with support from BDC Venture Capital, Propulsion Ventures SEC, and Fonds de solidarité FTQ. As part of the deal, Tandem MD Andre Gauthier joins the Coveo Board of Directors.

Louis Têtu (pictured), Chairman and CEO of Coveo, comments: 'Companies are struggling mightily with big, fragmented data, and are recognizing the need for powerful information access and consolidation technologies like never before. 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.'

Web site: www.coveo.com .