Coveo (TSX: CVO) provides artificial intelligence (AI) powered enterprise search solutions and interactions. Coveo combines unified search, analytics, and machine learning to deliver relevant information and recommendations across every business interaction, making websites, e-commerce, contact centers, and intranets. It serves industries such as healthcare, manufacturing, retail, and more. It was founded in 2005 and is based in Quebec City, Canada.
Coveo's Product Videos
ESPs containing Coveo
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The AI-powered e-commerce search & discovery market offers solutions that deliver relevant and scalable digital experiences across industries, saving time and increasing customer engagement and loyalty. These solutions provide personalized product recommendations, intuitive visual and text search, and catalog enrichment through semantic query processing. They also help businesses increase revenue …
Coveo's Products & Differentiators
Coveo for Commerce
Our commerce solutions are designed to boost revenue growth by enabling visitors to find the products they need effortlessly with relevant product results, tailored product recommendations, and personalized shopping experiences. We believe our platform drives increased Purchase Conversion Rates, upsells resulting in larger cart sizes, and higher customer loyalty translating into more repeat and recurring purchases for both B2B and B2C.
Research containing Coveo
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Coveo in 4 CB Insights research briefs, most recently on Aug 4, 2023.
Expert Collections containing Coveo
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Coveo is included in 8 Expert Collections, including Grocery Retail Tech.
Grocery Retail Tech
Startups providing B2B solutions to grocery businesses to improve their store and omni-channel performance. Includes customer analytics platforms, in-store robots, predictive inventory management systems, online enablement for grocers and consumables retailers, and more.
Market Research & Consumer Insights
This collection is comprised of companies using tech to better identify emerging trends and improve product development. It also includes companies helping brands and retailers conduct market research to learn about target shoppers, like their preferences, habits, and behaviors.
Companies developing artificial intelligence solutions, including cross-industry applications, industry-specific products, and AI infrastructure solutions.
Sales & Customer Service
Companies offering technology-driven solutions for brands and retailers to enable customer service before, during, and after in-store and online shopping.
Retail Tech 100
The most promising B2B tech startups transforming the retail industry.
Coveo has filed 2 patents.
Knowledge representation, Social networking services, Web frameworks, Information technology management, Data management
Knowledge representation, Social networking services, Web frameworks, Information technology management, Data management
Latest Coveo News
Feb 6, 2024
Market movers: Why PD-T, CVO-T, MEQ-T and more stocks are seeing action on Tuesday A survey of North American equities heading in both directions On the rise Shares of Precision Drilling Corp. ( PD-T ) jumped on Tuesday after reporting fourth-quarter 2023 financial results before the bell that topped the Street’s expectations. The Calgary-based company said EBITDA came in at $157.2-million, exceeding the consensus forecast by 4 per cent ($151.8-million) due to stronger-than-expected rig activity on both side of the border and gains in Canadian margins. Adjusted earnings per share of $3.99 blew past the $2.69 expectation. Precision also said it will continue to focus on deleveraging and share buybacks in 2024, increasing its long-term debt reduction target to $600-million between 2022 and 2026 from its previous goal of $500-million from 2022 to 2025. It will allocate 25-35 per cent of free cash flow before debt repayments to share repurchases. The company’s drilling rig utilization days in Canada for the quarter were down 2.5 per cent compared with a year ago, while its U.S. operations saw a 24.5 per cent drop. International drilling rig utilization days were up 25.5 per cent compared with last year. Precision Drilling says its service rig operating hours for the quarter were up 14.8 per cent from a year ago. In a research note, ATB Capital Markets analyst Waqar Syed said: “We view PD’s results positively. PD is very well positioned for the Canadian secular growth angle and improving its international presence. However, we await guidance on U.S. activity where per its website activity is at 37 rigs, well below expectations and sharply lower quarter-over-quarter.” Coveo Solutions Inc. ( CVO-T ), a Montreal-based enterprise software firm, surged following the late Monday release of better-than-expected third-quarter 2024 financial results and an increase to its full-year guidance, driven by “ strong early interest ” in its generative artificial intelligence platform. Revenue came in at $31.8-million, up 11 per cent year-over-year and above both the company’s guidance of $30.9-$31.4-million and the Street’s expectation of $31.3-million with software-as-a-service subscription revenue jumping 13 per cent. An adjusted EBITDA loss of $0.7-million was also better than anticipated (a loss of $1.9-million). Coveo now expects fiscal 2024 revenue of $125-$126.1-million, up from $124.5-$125.5-million, and an SaaS subscription revenue of $118-$118.5-million, up from $117-118-million. Its operating loss assumption is now $7.5-$8.5-million, shrinking from $9.5-$10.5-million. “Coveo reported Q3/F24 results which were ahead of the Street’s and our expectations both on the top and bottom lines. Q4/F24 total revenue, SaaS revenue and adj. operating loss guidance were all above expectations, which flowed into an increase in the annual guidance,” said Eight Capital analyst Adhir Kadve. “While the macro continues to present some uncertainty, RGA and the SAP channel continue to be offsetting factors and drive strength. To that end, the two initiatives drove the strongest overall bookings quarter and the strongest new logo bookings quarter since F22. The strength in bookings was in-line with management expectations communicated throughout this fiscal year and represents strong early evidence, which should lead to a reacceleration of growth in F25 and thus validate management’s execution on its two key initiatives (RGA and the SAP channel) and thus our broader thesis on the name.” Mainstreet Equity Corp. ( MEQ-T ) gained with the premarket release of better-than-anticipated first-quarter 2024 financial results, seeing funds from operations rise 23 per cent year-over-year due to lower vacancy rates and higher rents. The Calgary-based company, which owns a diversified portfolio of multifamily residential properties in six Western Canadian markets, reported revenue of $58.3-million, rising 19 per cent year-over-year, and net operating income of $37-million, a gain of 23 per cent. “We believe the Q1 results are positive for MEQ with the improvement in vacancy rates and average rent delivering strong financial results,” said Acumen Capital analyst Jim Byrne. “The company continues to deliver on its growth strategy and with over $400-million in liquidity, we believe the runway for value generation remains long.” Eli Lilly ( LLY-N ) on Tuesday forecast 2024 profit above Wall Street estimates on soaring demand for its recently approved weight-loss drug, and said the treatment helped reduce symptoms of a common, difficult to treat fatty liver disease in a mid-stage trial. Sales of obesity drug Zepbound reached US$175.8-million in the first few weeks of its launch in early December, after it was approved by the U.S. Food and Drug Administration in November. Shares of the Indianapolis-based drugmaker jumped after gaining about 11 per cent in January, making Lilly the eighth largest company in the U.S. by market capitalization and most valuable healthcare company. “I guess, (I was) most surprised by the sales of Zepbound. I wouldn’t have expected near that much,” said Troy Harmon, Chief Investment Officer at Henssler Financial. Lilly said it will expand its manufacturing, but given the time required to bring new capacity fully online, it expects demand for its diabetes and obesity drugs Mounjaro and Zepbound to outpace supply in 2024. Lilly and its main rival in the obesity market, Novo Nordisk ( NVO-N ), are both testing their treatments for other health benefits such as obstructive sleep apnea and chronic kidney disease to secure wider coverage for the medicines. Fourth-quarter profit of US$2.49 per share on an adjusted basis, beat Wall Street expectations by 27 US cents. BP PLC ( BP-N ) posted forecast-beating earnings of US$3-billion for the fourth quarter and boosted share repurchases as its recently appointed CEO vowed to make pragmatic investments in an effort to allay investor concern over its energy transition strategy. The company’s U.S.-lised shares rose on Tuesday following the unexpected acceleration of the buyback program. The quarterly results, lifted by strong gas trading, took the energy giant’s 2023 profit to US$13.8-billion, although that was half that of a year earlier as oil and gas prices cooled and refining profit margins weakened. The earnings come as a relief to CEO Murray Auchincloss after the company substantially missed forecasts in the previous two quarters. Mr. Auchincloss became permanent CEO in January after being named interim CEO on Sept. 12 when Bernard Looney abruptly stepped down for failing to fully disclose details of past personal relationships with colleagues. Mr. Auchincloss told Reuters that BP remains committed to its strategy to reduce oil production by 25 per cent from 2019 levels by 2030 to 2 million barrels per day while growing its renewables and low-carbon businesses by the end of the decade. But at the same time he said BP could grow its oil output beyond its 3-per-cent target for 2022 to 2027, depending on returns, in a nod to investors concerned that the British company’s energy transition will destroy value. BP’s shares have underperformed rivals in recent months amid the concerns over its strategy and the leadership upheaval. The company said it was committed to repurchasing US$3.5-billion of shares in the first half of 2024 and expects to purchase US$14-billion over 2024-2025. “BP delivers what investors were asking for: higher distributions and more visibility,” Jefferies analyst Giacomo Romeo said in a note. DuPont de Nemours ( DD-N ) beat Wall Street estimates for fourth-quarter profit on Tuesday as well as announced a new US$1-billion share repurchase program and hiked its dividend, sending its shares up. The company’s adjusted profit was 87 US cents per share for the three months ended Dec. 31, compared with analysts’ average estimate of 85 US cents per share, according to LSEG data. DuPont said it sees demand stabilization in its semiconductor technologies and interconnect solutions business and expects a “broad-based electronics materials recovery in 2024.” Chemicals firms have been battling persistent destocking trends, where excess inventory tugs at top-line results, as weak demand across key regions such as China and the UK plague sales and volumes. The specialty-chemicals maker whose products are used by consumer electronics firms and packaging companies, among others, had flagged concerns in January about additional destocking trends in its industrial business segment tugging at its first-quarter results. However, the trend is expected to abate in the second half of 2024 when the company expects to report year-over-year growth in sales and earnings, helped by improvement in the electronics segment and normalization in customer inventory levels. DuPont forecast full-year sales between US$11.9-billion and US$12.3-billion, compared to analysts’ average estimate of US$12.30-billion. The Delaware-based company also announced a 6-per-cent rise in its quarterly dividend. Palantir Technologies ( PLTR-N ) shares surged on Tuesday, as the data and analytics company’s strong fourth-quarter revenue growth led by increased demand for its AI offerings enthused investors. Revenue from Palantir’s commercial segment rose 32 per cent year-over-year to US$284-million in the reported quarter, helping the company post US$608-million in overall revenue which beat LSEG estimates. The company’s AI growth offset slowdown at its government segment, which contributed more than half of total quarterly revenue, impacted by uncertainty over timing of contracts. Palantir CEO Alex Karp called the AI program, which was launched in April last year, the “future” of the company, expecting growth in the United States. Jefferies upgraded Palantir’s shares to “hold” from “underperform,” reversing its rating in just a month saying “we are impressed with AI Platform (AIP) ramping faster than our initial expectation.” Palantir also introduced an adjusted free cash flow forecast, targeting between $800 million and $1 billion in 2024, which Jefferies called the “highlight” of the report. Nvidia ( NVDA-Q ), a poster child of the AI frenzy that closed at a record level on Monday, was flat in early trading on Tuesday. Despite the strong forecast, analysts expressed concerns about the Palantir stock’s lofty valuation, which nearly doubled over the past 12 months. “Despite our bullish, above-consensus growth and profitability assumptions, we are unable to rationalize Palantir’s current valuation,” said Morningstar analyst Malik Ahmed Khan. Palantir’s median price-to-earnings (PE) ratio is 53.19, well above the industry median at 17.60, according to LSEG data. A lower PE multiple indicates an attractive investment opportunity. Wall Street overall remains on the sidelines with an average rating of 17 brokerages covering stock at “hold” and median price target of US$18.50, predicting a 6-per-cent drop in shares in the next 12 months from its last premarket price of US$19.80. Spotify ( SPOT-N ) on Tuesday reported fourth-quarter monthly active users and subscribers ahead of expectations as it grew in all regions, and said revenue and profitability trends looked favourable this year, sending its shares up.. The Swedish music streaming company has ventured into podcasts and audiobooks as it seeks to grow its user base to 1 billion by 2030. It has also raised prices for its subscribers and laid off thousands of employees to boost profits. The number of monthly active users rose by 23 per cent to 602 million in the fourth quarter, beating Spotify’s guidance and analysts’ forecasts of 601.33 million. Premium subscribers, who account for most of the company’s revenue, rose by 15 per cent to 236 million, topping estimates of 235.1 million, according to IBES data from LSEG. However, quarterly revenue, which rose 16 per cent to 3.67 billion euros (US$3.94-billion), missed estimates of 3.72 billion as it took a hit from foreign exchange losses. Its first-quarter revenue is also expected to fall below expectations. “We have plenty of levers to pull, including price increases, so you will see us work with all of these levers at various times and in various markets,” CEO Daniel Ek said in an interview. “We are now a lot more focused on the bottom line as well.” Spotify has also been investing heavily in its podcast business, including signing hosts with big followers such as Joe Rogan, and podcast advertising grew by double digits in the quarter. The company expects current-quarter premium subscribers to reach 239 million, above estimates of 238.3 million. However, the first-quarter forecast was below Wall Street expectations for total users and revenue. Spotify’s monthly user forecast for the quarter of 618 million undershot estimates of 618.8 million. It expects operating income of 180 million euros in the current quarter after posted a fourth-quarter operating loss of 75 million euros On the decline U.S.-listed shares of UBS Group AG ( UBS-N ) were lower after it said on Tuesday it would restart share buybacks and find US$3-billion more in cost savings from integrating Credit Suisse, as the bank outlined the next phase of absorbing its fallen rival after underwhelming fourth-quarter results. The Swiss bank now expects US$13-billion in cost savings by the end of 2026 - with half of it to come from slashing headcount, UBS Chief Financial Officer Todd Tuckner said. UBS had previously set a goal of more than US$10-billion. UBS’s shotgun takeover of Credit Suisse last March was the first-ever merger of two global systemically important banks, and UBS has since managed to avoid any major ructions, with its share price jumping some 50 per cent. The bank declared the first phase of the integration complete on Tuesday, but there remains a long way to go, with trickier stages still to come including thousands of job losses and the combining of different IT systems. UBS CEO Sergio Ermotti said progress over the next three years would not be “measured in a straight line”. The Swiss bank affirmed key financial targets and set new ones, including an ambition for its huge wealth management arm to boost invested assets to US$5-trillion by 2028 from US$3.85-trillion currently. Analysts gave its fourth-quarter results a lukewarm response, although they welcomed a proposed 27-per-cent increase in its 2023 dividend to 70 US cents per share and the restart of buybacks that will begin with up to US$1-billion in the second half of 2024. European banks have been shelling out record sums to shareholders making UBS, which suspended buybacks after the Credit Suisse deal, an outlier. “While Q4 results disappointed on costs (revenues broadly in line), targeting higher gross savings out to 2026 should provide some comfort that costs can remain under control,” said RBC analyst Anke Reingen. Spirit AeroSystems Holdings Inc. ( SPR-N ) slid after it put off providing a forecast for 2024 on Tuesday, citing uncertainty on timing of 737 MAX production increases at Boeing ( BA-N ) as well as ongoing negotiations with Airbus over A220 program costs. Spirit and Boeing, its largest customer, are on the radar of investors, regulators and lawmakers following a cabin panel blowout on an Alaska Airlines MAX 9 aircraft last month. There were no serious injuries, but the incident re-kindled concerns over quality and safety and the U.S. Federal Aviation Administration (FAA) has barred expanding production of 737 MAX without estimating how long the limitation will last. “Speaking on behalf of everyone at Spirit, the quality and safety of the products we produce is paramount above all,” Interim CEO Patrick Shanahan said on Tuesday. Boeing has said it would continue to buy parts from suppliers despite the cap on production but a prolonged restriction may end up piling parts at suppliers, whose cash flows have come under pressure due to supply logjams. Spirit Aero’s free cash flow has also come under pressure from the quality issues surrounding the 737 MAX jet. Its shares have fallen 15.8 per cent since the mid-air blowout in early January. With files from staff and wires
Coveo Frequently Asked Questions (FAQ)
When was Coveo founded?
Coveo was founded in 2005.
Where is Coveo's headquarters?
Coveo's headquarters is located at 3175 Chemin des Quatres-Bourgeois, Quebec City.
What is Coveo's latest funding round?
Coveo's latest funding round is IPO.
How much did Coveo raise?
Coveo raised a total of $341.75M.
Who are the investors of Coveo?
Investors of Coveo include Fonds de Solidarite FTQ, Evergreen Coast Capital, OMERS Private Equity, Investissement Quebec, Propulsion Ventures and 9 more.
Who are Coveo's competitors?
Competitors of Coveo include Selectika, Pryon, Contentstack, Bloomreach, Zoovu and 7 more.
What products does Coveo offer?
Coveo's products include Coveo for Commerce and 3 more.
Who are Coveo's customers?
Customers of Coveo include Caleres, Dell Technology, Ellucian and Tableau.
Compare Coveo to Competitors
Algolia offers an artificial intelligence (AI) search and discovery platform. It enables its users to access language and keyword processing through vector search through products such as Algolia neural search, keyword search, and recommendations, as well as a developer hub for application programming interface (API) clients and integrations. It provides its services to companies in e-commerce, e-commerce marketplaces, software as a service (SaaS), media, and more. The company was founded in 2012 and is based in Palo Alto, California.
Lucidworks is a company that focuses on search and discovery software, operating within the technology sector. The company offers a platform that improves search and browse experiences, personalizes shopper and employee experiences, and connects agents and customers. It primarily serves sectors such as ecommerce, customer service, and workplace applications. Lucidworks was formerly known as Lucid Imagination. It was founded in 2007 and is based in San Francisco, California.
Attivio is a company that specializes in cognitive search and knowledge discovery, operating within the artificial intelligence and text analytics industry. The company offers a platform that provides natural language processing, machine learning, and text analytics capabilities, enabling users to search and analyze data at scale. Attivio primarily serves sectors such as customer support, risk avoidance, and unified digital workplaces. It was founded in 2007 and is based in Newton, Massachusetts.
Sinequa is a company that focuses on providing AI-powered search solutions in the technology industry. The company offers a search platform that connects all content, both text and data, to derive meaning and present information in context, helping to solve content chaos and inform employees through a single, secure interface. Sinequa primarily sells to sectors such as healthcare, life sciences, manufacturing, financial services, and government and defense. It was founded in 1984 and is based in Paris, France.
Klevu is a company that specializes in artificial intelligence and natural language processing within the ecommerce industry. The company offers a discovery platform that includes smart search, category merchandising, and product recommendations, all designed to enhance the shopping experience on ecommerce websites by leveraging real-time shopper intent. Klevu primarily serves the ecommerce industry. It was founded in 2013 and is based in Helsinki, Finland.
Syte develops a product discovery platform with visual artificial intelligence (AI) technology to help retailers. It drives e-commerce performance with a visual search experience that connects shoppers with hyper-personalization products. The company serves fashion pages, jewelry, home decor, and more. It was founded in 2015 and is based in Tel Aviv, Israel.