$100m Investment for Big Data Firm Coveo

Quebec-based big data insight and analysis specialist Coveo has received $100m from tech investment firm Elliott Management, in exchange for a 27% stake in the company.

Coveo, which has offices in Montreal, San Francisco and Amsterdam, offers enterprise search and analytics technology to refine how people access structured and unstructured business data. Intelligent search and AI technologies are used to personalize digital experience for customers, partners, dealers and employees, and deliver relevant information and recommendations across 'every business interaction'.

New funding has been led by Elliot Management's private equity affiliate Evergreen Coast Capital. Louis Têtu (pictured), Chairman and CEO of Coveo, comments: 'With this financing, we intend to further expand our R&D team, broaden our market footprint with even more aggressive investments in sales, marketing, channels, and launch new lines of business. In addition, we're opening up a whole range of new opportunities by expanding our platform, enabling organizations to leverage Coveo as their enterprise-wide relevance backbone, from eCommerce to customer service and the intelligent workplace'.

Web site: www.coveo.com .