Coveo, an enterprise software-as-a-service (SaaS) platform that meshes unified search, analytics, and machine learning to unlock insights contained within big data for businesses, has raised $227 million in a round of funding led by Omers, with participation from Evergreen Coast Capital, FSTQ, and IQ, among others.
The company didn’t reveal its current valuation, except to say it’s now a “unicorn” (valued at over $1 billion), so the figure is likely at least 3 times more than its $370 million valuation last year.
Moreover, Coveo revealed that Omers and other existing shareholders now own 15.5% of the company.
Founded out of Quebec, Canada in 2005, Coveo can connect to data from myriad sources, including cloud storage services — Gmail, Lithium, Microsoft Dynamics, Salesforce, Twitter, Zendesk, and YouTube — to help companies index all their content so it’s searchable from a single interface.
Moreover, the technology allows online businesses, such as ecommerce platforms, to tailor their stores by combining visitor data with data from their existing databases, which can mean better personalized recommendations — less churn and more profit.
Elsewhere, Coveo can help companies improve search through their own intranets and internal applications.