OMERS led a $227m investment in Coveo.

OMERS Growth Equity, a mid-market focused private equity firm, led an investment round of $227m in Coveo, a provider of AI SaaS enterprise solutions. The funding includes participation from existing investors and other financial institutions including Elliott Management, FSTQ, and IQ. The new funds will be used to support further product development, expansion in existing and new markets, and to further broaden the team’s capabilities over the next year. "Our investment in Coveo aligns closely with our belief that growth in data along with advances in machine learning and artificial intelligence are becoming increasingly important to companies, to help them increase sales and reduce costs,” Mark Shulgan, OMERS Managing Director and Head of Growth Equity.