Enterprise Search Provider Coveo Adds $8.2 Million In Funding

Coveo, a Chicago-based enterprise search solution provider, has raised $8.2 million in Series B funding in a round led by BDC Venture Capital, with most existing investors participating, among them Propulsion Ventures SEC, The Solidarity Fund QFL, and the startup’s Chairman Louis Têtu.

The company plans to use the extra capital to expand aggressively: it intends to hire an additional 60 employees over the next two years, nearly doubling its current workforce (80+ people around the world).

Coveo markets enterprise search technology and information access solutions for hundreds of companies across the globe, including Deloitte, ESPN, Lockheed Martin, P&G, PricewaterhouseCoopers, Rabobank and the U.S. Navy.

Coveo, founded in 2005, is managed by a bunch of former Taleo and Copernic executives. Counting this second round, the startup has raised $10.7 million to date.