SOURCE: Coveo

January 30, 2014 08:00 ET

Coveo Reports Accelerated Demand for Search & Relevance Technology in 2013

Coveo Technology Advances Radically Transform Knowledge Management and Online Experiences, as "The User Becomes the Query" With Groundbreaking Contextual Relevance

SAN MATEO, CA and QUEBEC--(Marketwired - Jan 30, 2014) -

  • Coveo today announced significantly accelerated growth in 2013, attributed to its technology innovations, strategic partnerships, and the radical improvements its capabilities are driving in Knowledge Management and Online Experiences. In 2013, Coveo continued to lead the search & relevance industry in innovation as it changed the search paradigm from one of information retrieval to recommended content, as "the user and context become the query."

  • Rapid and accelerating employee and revenue growth supports new office openings in U.S. and EMEA.
    • Coveo grew both its employee count and revenues in-step, by approximately 50 percent.
    • Employee count grew from 90 to 150 and is expected to increase by a similar amount in 2014.
    • To support its West Coast customers and employee growth in the Bay Area, Coveo opened an office in Silicon Valley in 2013, in San Mateo, CA.
    • In early 2014 Coveo opened a new European Headquarters office to support its growth as it passes the 100-customer mark in Europe, in Amsterdam, The Netherlands.

  • Highly Advanced Search & Relevance: The User and Context Become the Query
    Coveo significantly evolved its leading platform with multiple, key innovations, resulting in the industry's most comprehensive, fully integrated, end-to-end Search & Relevance Platform. Coveo delivered on its commitment to bring content and experts into the context of the user (Content into Context™) with several industry firsts:
    • Contextual & social relevance -- either explicitly set by the user, or implicitly "discovered" by the platform.
    • Transparent relevance tuning -- no longer is search relevance a "black box," tunable only by developers and system integrators. With Coveo, administrators control and users influence high levels of personalized, contextual relevance.
    • Hybrid Cloud/On-Premise Deployments -- The move of organizational data to the cloud creates further data fragmentation which Coveo solves by consolidating information from cloud, social and on-premise systems and presenting it within the context of the user, regardless of device type or location.

  • Platform development supports the adoption of next generation Knowledge Management programs and the launch of two new, fully integrated applications

    • Search-powered Knowledge Management -- Coveo significantly increased deployments of its paradigm-shifting technology to power next generation knowledge management initiatives among mid- to large-sized organizations, comprising the largest share of the company's revenue.

    • Coveo for Salesforce, Communities Edition -- Following on the heels of Coveo's Fall, 2012 launch of Coveo for Salesforce, Service Cloud Edition and in response to customer demand, Coveo launched a Communities Edition of its Salesforce app to enable consistent customer experience across channels. Customers in Salesforce Communities and Portals may now have access to the broader enterprise knowledge ecosystem.
      • Coveo for Salesforce, Communities Edition assembles personalized information from multiple social and knowledge sources and presents it in the context of members within Salesforce Customer Communities and Portals, helping members better collaborate and solve challenges via self-service, increasing customer satisfaction and loyalty while driving down customer service costs.

    • Coveo for Sitecore, Advanced Search Edition -- Coveo has worked extensively with Sitecore, a leading Customer Engagement Platform provider, and its customers. Coveo is currently Sitecore's largest technology partner with more than 100 joint implementations. In 2013 Coveo significantly deepened both its partnership and integration with the launch of Coveo for Sitecore, Advanced Search Edition. This application provides a seamless integration with Sitecore Customer Engagement Platform 7. Breaking new ground in the management of online experiences, this new application provides marketers with an out-of-the-box ability to configure and manage an optimal Search & Relevance experience for their website visitors from within their familiar Sitecore interface.

  • Strategic Partnerships Deepened and Total Partnerships Doubled
    • Coveo also deepened its strategic partnership with Salesforce.com with the launch of its new Communities Edition as well as the strong adoption of its Salesforce applications, including among the largest deployments of Salesforce globally. Coveo has partnered effectively with Salesforce to win highly competitive engagements by clearly demonstrating its ability to consolidate information and knowledge across the Salesforce platform as well as to accelerate migrations by bringing data from any system directly into the Salesforce UI, related to the user's context.
      • Coveo also expanded its Salesforce System Integrator Partner Program with the signing of seven (7) new partners.
    • Coveo entered into a global agreement with Sitecore, a leading customer experience platform provider, to co-market the Coveo for Sitecore, Advanced Search Edition application launched in North America and Europe.
    • Coveo doubled its Partner Training Program to a total of 54 partners, primarily in the areas of Knowledge Management, Enterprise Search and Online Experiences, and has expanded partner certification in Coveo Technology Implementations.

Supporting quotes:

  • Louis Tetu, Chairman and CEO: "The market continues to exhibit a greater appetite for and understanding of the value of harnessing big disparate enterprise data to gain better insights into quickly changing, high varieties of content. This requires new forms of processing and mashups to enable enhanced decision-making, insight discovery and process optimization. Unified indexing combined with contextualization, the heart of Coveo's technology, is clearly one of those revolutionary mechanisms. By leveraging the untapped value of the long-tail of enterprise knowledge, we believe this technology will create billions of dollars of value.

  • "We believe that fundamentally, Search & Relevance technology has the capacity to unleash immense value for organizations in similar ways that Internet Search did for users everywhere, by allowing end-users the contextual discovery of all that the enterprise knowledge ecosystem has to offer."

  • Laurent Simoneau, Founder and CTO: "Coveo's technology innovations are strongly driven by both marketplace requirements and our philosophy around user engagement and adoption. Coveo adoption and value creation are significant and we believe that by making the user context and the situation the query, wherever and whenever the user requires, using any device, we will facilitate even greater gains for our customers in terms of revenue, customer satisfaction, costs, time-to-market, innovation, quality, and more."

About Coveo
Coveo makes companies more relevant and responsive, by providing technology that delivers in real time the most relevant, context-aware information for every website visitor, every customer and every employee.

Coveo's transformational technology has been recognized as the most complete, end-to-end Search & Relevance platform available today. Coveo takes Enterprise Search to a new, more relevant level by securely connecting with and harnessing an organization's big, fragmented data from any combination of cloud, social, and on-premise systems. The Coveo Advanced Relevance Engine injects the most relevant knowledge into the context of every user, focusing on three business areas to:

  • Radically boost Knowledge Management initiatives by making all of its collective knowledge easily accessible & relevant, so that all employees can take the best actions;
  • Inject more relevant knowledge into customer service and sales interactions; and
  • Personalize online customer experiences within high-end websites and communities.

Coveo is a strategic partner of several leading software companies such as Salesforce.com and Sitecore, and has been recognized as a visionary by Gartner in its 2013 Magic Quadrant. Among Coveo customers are leading organizations such as Cenovus Energy Inc., Lockheed Martin, Rally Software, and Sungard, among many others. For more information, visit www.coveo.com, follow us on the Coveo blog, LinkedIn, Twitter, Facebook and YouTube.

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