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Coveo Announces $18 Million Funding Led by Tandem Expansion

Coveo Announces $18 Million Funding Led by Tandem Expansion Fund 
Funding Fuels Growth as Demand Increases for Solutions That Create
Greater Insights From Big Data and Improve Customer Engagement 
QUEBEC -- (Marketwire) -- 12/10/12 -- 


 
--  Coveo announced today that it has secured $18 million in funding, in a
    round led by Tandem Expansion Fund, Canada's largest late-stage
    technology investment firm. All major existing investors also
    participated in the round, including BDC Venture Capital, Propulsion
    Ventures SEC and Fonds de solidarite FTQ.
    
    
--  The funding will support Coveo'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. Coveo brings
    together this collective knowledge for every user, giving them
    actionable insights into customers, products, projects, people and
    more.
    
    
--  The company has grown significantly during the past several years,
    including several year-over-year quarters in 2012 of 80 to 100 percent
    growth in license revenue, and has been operating at or close to
    profitability. This funding will be used to expand Coveo's sales and
    marketing efforts, and to help scale operations in advance of
    anticipated hyper growth.
    
    
--  Coveo recently launched Coveo for Salesforce, a cloud-based
    application integrated into the Salesforce.com UI which brings the
    collective knowledge to every Salesforce user, delivering actionable
    insights for every customer interaction. Coveo automatically
    recommends content relevant to what the user is working on, whether
    that is an account, a lead, an opportunity or a case. It consolidates
    fragmented information from across a variety of cloud-based and social
    platforms, or on-premise databases or systems. Coveo for Salesforce is
    currently available for free trial via www.coveo.com, and is expected
    to be available via the Salesforce AppExchange within the next few
    weeks.
    
    
--  Tandem Managing Director Andre Gauthier joins the Coveo Board of
    Directors concurrent with the funding. Mr. Gauthier has significant
    experience in financial management including multi-jurisdiction
    mergers and acquisitions, investor relations, reporting, corporate
    governance and regulatory compliance of U.S. and Canadian listed
    companies. Gauthier was executive vice president and CFO of Telesystem
    International Wireless Inc. ("TIW") until it was sold to Vodafone
    Group Plc ("Vodafone") in a transaction valued at U.S. $4.5 billion.

  
Supporting Quotes: 


 
--  Andre Gauthier, Managing Director, Tandem Expansion Fund: "Our
    investment philosophy is to find great companies at a stage where they
    are ready to take their growth to the next level. Coveo has invested
    heavily in its technology, the market timing is a perfect storm for
    solutions that enable greater insight into highly fragmented data, and
    its customers rave about the ROI of the technology. We think Coveo is
    about to experience explosive growth."
    
    
--  Louis Tetu, Chairman and CEO, Coveo:  "Companies are struggling
    mightily with big, fragmented data, and are recognizing the need for
    powerful information access and consolidation technologies like never
    before. This is a major shift brought on by the need to better engage
    with customers, ensuring that every customer experience is more
    relevant and additive. The goal of the social enterprise is to connect
    customers and people at the center of all operations, and this is what
    Coveo enables through information."

  
About Tandem Expansion Fund
 Tandem is a growth equity investor in
Canadian technology businesses. Tandem is committed to helping
Canadian companies and their management team to reach their full
potential. Beyond capital, Tandem helps to make things happen by
contributing its experience in building companies, its relationships
and its proven ability to create value. Tandem values integrity,
trust, openness and long-term relationships. For more information
regarding Tandem, and to contact the Fund regarding investment
opportunities: www.tandemexpansion.com. Other late-stage companies in
the Tandem Expansion fund portfolio include Beyond the Rack, CiRBA,
Acquisio and Solace Systems.  
About Coveo
 Coveo search technology redefines how people access and
share fragmented knowledge around the social enterprise. Coveo brings
together the collective and yet fragmented information from social,
enterprise and cloud-based systems, and makes it relevant to every
user and customer, every time. Coveo connects people to contextual
content, and through content, to relevant people. This enables more
efficient customer service, increased sales, shorter sales cycles,
faster innovation for better product development and increased
profitability. Coveo's advanced search and unified indexing
technology securely connects with and crawls all systems to create a
virtual integration layer, by federating and normalizing structured
and unstructured information.  
The Company's lines of business bring relevant insight to CRM for
Sales & Customer Service, Web Content Management systems for
personalized online experiences, and Enterprise Content so that
engineering and operations can tap into content and stop reinventing
the wheel. Among Coveo's more than 400 customers are CA Technologies,
Lockheed Martin, YUM! Brands, GEICO and Boston Children's Hospital.
For more information, visit www.coveo.com, follow us on Twitter
@coveo or like us on Facebook.       
Editorial Contacts: 
Jessica Hohn-Cabana
Coveo
418-263-1111 x233 Office 
508-353-3454
jcabana@coveo.com 
Ann Shannon
PAN Communications
617-502-4300
prcoveo@pancomm.com      
 
 
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