SAN FRANCISCO, CA and QUEBEC, QC--(Marketwired - July 21, 2016) - Coveo, a recognized leader in intelligent search and predictive analytics, achieved yet another strong performance for CY Q2 2016. Coveo reported CY Q2 2016 GAAP revenue growth of 59 percent over CY Q2 2015. The number of transactions for the quarter also grew significantly over the prior-year quarter, at 30 percent.
"Thanks to our cloud analytics we can now measure our customers' business impact from driving intelligence into customer self-service and knowledge workplaces," said Louis Tetu, Coveo CEO. "From 3-fold increases in customer self-service to measures of business agility, these big impacts are thanks to context-relevant information, predictive insights and constant learning at every point of work. Our development team scored again in Q2, with major innovations in our cloud platform, in search intelligence, machine learning and predictive insights. While this is driving our explosive growth, our single most important challenge is hiring the talent we need to support the needs of our customers."
Key Quarterly Milestones
Product Launches: During CY Q2 2016 Coveo launched new self-learning, Intelligent Site Search, which has already had significant success. The cloud-based, advanced search employs Coveo Reveal, the self-learning search service to deliver the best information to every site visitor, every time. The new Coveo for Sitecore Pro Cloud Edition is available for Sitecore websites and system integrators, and is the first and only cloud-based intelligent search app with native integration to Sitecore. It enables fast and easy activation and configuration, elastic scalability, and always-on, automated relevance tuning along with relevant query suggestions.
Partnerships: Coveo also inked a partnership with Avanade, the leading digital innovator on the Microsoft platform. The partnership enables enterprises to deliver the most innovative, intelligent digital experiences to customers and employees with agility and scale -- to better engage with customers online, and upskill employees in the digital workplace. With Coveo Intelligent Search Applications, Avanade can easily unify and personalize information from across multiple sources -- including Microsoft SharePoint and Microsoft Dynamics CRM -- to improve digital experiences; drive a higher number of website conversions; increase the occurrence of customer and dealer self-service; and ensure more proficient employees.
Expansion: The company also announced that it had chosen Montreal for its fourth international office and will create 50 new jobs in the city's multicultural, connected Innovation District. Scheduled for a December 2016 opening, Coveo's newest office (in addition to Quebec, San Francisco and Amsterdam) will become an important creative and digital hub and, over the next 24 months, become home to over 50 new jobs. Hiring has already begun, and current openings may be viewed at MTL2016.coveo.com.
Certifications: Coveo gained renewal for the Knowledge Centered Support (KCSsm) Aligned designation from the KCS Academy of the Consortium for Service Innovation, and now has 50 KCS V5 Certified practitioners across its professional services, customer success, R&D, and sales and marketing teams.
The company also completed SOC2 Type II certification, proving its dedication to the security, privacy, and integrity of its customers' data.
The best information, everywhere, every time. That's how Coveo helps today's fastest growing companies keep their edge. Recognized as the Most Visionary Leader in Enterprise Search and as a leader in Big Data Search and Knowledge Discovery, Coveo intelligently delivers knowledge and critical insights from across the entire IT ecosystem at scale, through the cloud and on-premise systems. From intelligent self-service applications to intelligent contact centers, Coveo partners with some of the world's largest enterprise technology ecosystems to provide a more intelligent, unified and engaging experience for customers and employees. Coveo currently has more than 1,500 activations in mid-to-large sized global organizations across multiple industries.
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