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Coveo Closes $18 Million In Funding Led by Tandem Expansion Fund

Big data, big results – that’s the name of the game for Quebec-based Coveo who just closed $18 million in funding lead by Tandem Expansion Fund, and also includes existing investors also participated in the round, including BDC Venture Capital, Propulsion Ventures SEC and Fonds de solidarité FTQ.

The funds will be used to help support the company’s expansion as the market continues to heat up for solutions that enable actionable insight from Big Data. Coveo’s advanced search technology redefines how people access fragmented information and collaborate around the social enterprise. Organizations are increasingly data-rich but insight-poor, fueled in large part by the data variety explosion, the inability to integrate information from legacy systems, exponentially growing social media, and the move of many organizational systems to the cloud.