Coveo Joins Pledge 1% Movement and Commits 1% of Workforce’s Time, 1% of Profits, 1% of Products, and 1% of Equity to Make a Lasting Social Impact
MONTREAL and SAN FRANCISCO, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Coveo, a market-leading AI-powered relevance platform, announced today that it has joined Pledge 1%, a global movement to inspire, educate, and empower all companies to leverage their assets for good. By pledging 1% of its workforce’s time, 1% of profits, 1% of products, and 1% of equity, Coveo is demonstrating its commitment to philanthropic leadership.
“At Coveo, we believe we have a responsibility to make a lasting social impact in our communities. Together with our team, our board of directors, and our shareholders, we are proud to announce that we joined the Pledge 1% movement, committing 1% of our time, 1% of our products, 1% of our profits, and yes, 1% of our equity,” said Louis Têtu, Chairman and CEO at Coveo. “Our pledge is substantive, and I hope other companies will see what we’re doing and join us.”
“Equal, accessible, and unconstrained access to knowledge and education is a key lever for human wellness, to combat poverty, and to reduce inequalities,” said Sheila Morin, SVP Corporate Marketing and Brand at Coveo. “Whether it is democratizing AI and digital content access to make a non-profit more effective, using educational and employment opportunities as tactics for combating inequality, or making knowledge available to all, we aim to make the democratization of relevance a force for good locally and globally. With the structure of our pledge, we will be able to contribute our time, our technology, our money and our equity to help. And we will seek to engage our partners in the journey.”
“We are thrilled to welcome Coveo to the Pledge 1% movement. As a company focused on creating relevant, personalized experiences at scale, Coveo has the potential for transformational impact on nonprofits and the stakeholders they serve,” said Amy Lesnick, Chief Executive and President of Pledge 1%. “By committing 1% of their equity to sustainably fuel long term social impact efforts and pairing these funds with other meaningful assets, Coveo serves as a terrific role model not only for other Canadian companies but for businesses across the globe.”
Coveo will be working with its partners including Benevity Inc, a leading provider of global corporate purpose software that provides charitable donation-management and grant-management, as Coveo takes the next steps to re-democratize business.
About Coveo
We believe that relevance is critical to winning in the new digital experience economy. Coveo is a market-leading AI-powered relevance platform. We aim to enable our customers to deliver the relevant experiences that we believe people expect in the new digital economy. Our SaaS-native, multi-tenant platform injects search, recommendations, and personalization solutions into digital experiences. We provide solutions for Ecommerce, service, website, and workplace applications. Our solutions are designed to provide tangible value to our customers by helping drive revenue growth, reduce customer support costs, increase customer satisfaction and website engagement, and improve employee proficiency and satisfaction.
Our AI powers relevant interactions for hundreds of the world’s most innovative brands and is supported by a large network of global system integrators and implementation partners.
Coveo is a trademark of Coveo Solutions, Inc.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of applicable Canadian securities laws, which reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Prospectus. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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About Pledge 1%
Pledge 1% is a global movement that inspires, educates, and empowers every entrepreneur, company, and employee to be a force for good. Over 15,000 members in 100 countries around the world have used Pledge 1%’s flexible framework to ignite billions of dollars and hundreds of thousands of volunteer hours in new philanthropy. To learn more about Pledge 1%, and how your company can get involved, visit pledge1percent.org.
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/20cf7603-8163-49ae-b979-d2ecff764320
Released November 30, 2021