Coveo raises $100 mln in Evergreen Coast-led investment
Coveo, a Québec City-based provider of artificial intelligence-powered insight engines, has raised $100 million in follow-on financing. The deal was led by Evergreen Coast Capital, the private equity affiliate of U.S. investment management firm Elliott Management Corp. Elliott secured a 27 percent stake as a result. Founded in 2005 and led by CEO Louis Têtu, Coveo serves more than 1,000 customers worldwide. The company will use the funds raised to accelerate growth by investing in sales and marketing, channels, new product lines and R&D, and by making acquisitions. Coveo's existing investors include BDC Capital, Fonds de solidarité FTQ, Tandem Expansion Fund and Telesystem.
4 April 2018•4 mins read
