July 16, 2024 | Montreal, QC and San Francisco, CA
Coveo Announces Appointment of John Grosshans as Chief Revenue Officer
Coveo (TSX: CVO), the leading enterprise AI platform that brings AI search and generative AI (GenAI) to every point–of-experience, enabling remarkable personalized digital experiences, today announced that John Grosshans, a seasoned executive with extensive SaaS experience, has been appointed as Chief Revenue Officer of Coveo effective immediately.
Mr. Grosshans has more than 30 years of global sales management experience in numerous SaaS verticals, including most recently cloud and applications. Prior to joining Coveo, Mr. Grosshans acted as Chief Revenue Officer and Senior Vice President, Prisma Cloud at Palo Alto Networks (NASDAQ: PANW), where he led global sales for Palo Alto Networks’ cloud native security solutions. Prior to joining Palo Alto Networks, Mr. Grosshans served in senior executive positions with AWS, Oracle, SAP and Avaya, among others. Mr. Grosshans joins Coveo with a stellar track record, having successfully led companies to US$1B+ of revenue in four instances, led global sales teams of 600+ across all go-to-market functions, and having held a critical role in a number of corporate development initiatives throughout his tenures, including nearly ten acquisitions.
“I am incredibly excited to announce that John Grosshans is joining the company as CRO” said Louis Têtu, Chairman and Chief Executive Officer of the company. “John is the embodiment of Coveo’s value system. He is rigorous, determined, and dedicated to all aspects of his work – more importantly, to building value-based, lasting relationships with customers that drive exceptional growth. John is coming to Coveo with an outstanding track record of delivering tangible results and meticulously growing revenue of sizeable SaaS companies.”
“Coveo is an outstanding company, delivering exceptional, differentiated products in the explosive applied AI market” said John Grosshans, CRO of Coveo. “Joining at this stage is very exciting, as I believe there is a significant untapped addressable market and high-value white space opportunities with Coveo’s customers. I am happy to be joining the executive team, and will hit the ground running today, with an unrelenting focus on scaling revenue and market share globally.”
Mr. Grosshans will report directly into Louis Tetu, Coveo’s Chief Executive Officer.
About Coveo
We strongly believe that the future is business-to-person. That experiences are today’s competitive front line, a make or break for every business. We also believe that remarkable experiences not only enhance user satisfaction but also yield significant gains for enterprises. That is what we call the AI-experience advantage – the degree to which the content, products, recommendations, and advice presented to a person online aligns easily with their needs, intent, preferences, context, and behavior, resulting in superior business outcomes.
To realize this AI-experience advantage at scale, enterprises require a robust, spinal and composable infrastructure capable of unifying content securely and delivering AI search, AI recommendations, true personalization, and a trusted generative experience at every touchpoint with each individual customer, partner and employee. Coveo is dedicated to bringing this advantage to every point-of-experience, using powerful data and AI models to transform the enterprise in commerce, customer service, website and workplace.
The Coveo platform is ISO 27001 and ISO 27018 certified, SOC2 compliant, HIPAA compatible, with a 99.999% SLA available. We are a Salesforce ISV Partner, an SAP EndorsedⓇ App, an Adobe Gold Partner, MACH Alliance member and a Genesys AppFoundryⓇ ISV Partner.
Coveo is a trademark of Coveo Solutions Inc.
Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws, including with respect to Coveo’s financial outlook on SaaS Subscription Revenue, Total Revenue, and Adjusted Operating Loss for the three months and the year ending March 31, 2024 and expectations and timing around achieving positive operating cash flow, as well as statements regarding the benefits and performance of Coveo Relevance Generative Answering (collectively, “forward-looking information”). This forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, ”could”, “might”, “will”, “achieve”, “occur”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, “continue”, “target”, “opportunity”, “strategy”, “scheduled”, “outlook”, “forecast”, “projection”, or “prospect”, the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. In addition, any statements that refer to expectations, intentions, projections, or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates, and projections regarding future events or circumstances.
Coveo’s financial outlook on SaaS Subscription Revenue, Total Revenue, and Adjusted Operating Loss also constitutes “financial outlook” within the meaning of applicable securities laws and is provided for the purposes of assisting the reader in understanding the company’s financial performance and measuring progress toward management’s objectives and the reader is cautioned that it may not be appropriate for other purposes. Please refer to “Financial Outlook” above for more information.
Forward-looking information is necessarily based on a number of opinions, estimates, and assumptions (including those discussed under “Financial Outlook” above and those discussed immediately hereunder) that we considered appropriate and reasonable as of the date such statements are made. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, actual results may vary from the forward-looking information contained herein. Certain assumptions made in preparing the forward-looking information contained in herein include, without limitation (and in addition to those discussed under “Financial Outlook” above): our ability to capitalize on growth opportunities and implement our growth strategy; our ability to attract new customers, expand our relationships with existing customers, and have existing customers renew their subscriptions; our ability to maintain successful strategic relationships with partners and other third parties; market awareness and acceptance of enterprise AI solutions in general and our products in particular; the market penetration of our new generative AI solutions, both with new and existing customers, and our ability to capture the generative AI opportunity; our future capital requirements, and availability of capital generally; the accuracy of our estimates of market opportunity, growth forecasts, and expectations and timing around achieving positive operating cash flow; our success in identifying and evaluating, as well as financing and integrating, any acquisitions, partnerships, or joint ventures; the significant influence of our principal shareholders; and our ability to convert pipeline into closed deals, and the timeframe thereof. Moreover, forward-looking information is subject to known and unknown risks, uncertainties, and other factors, many of which are beyond our control, that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to macro-economic uncertainties and the risk factors described under “Risk Factors” in the company’s most recently filed Annual Information Form and under “Key Factors Affecting our Performance” in the company’s most recently filed MD&A, both available under our profile on SEDAR+ at . There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, prospective investors should not place undue reliance on forward-looking information, which speaks only as of the date made. Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information.
You should not rely on this forward-looking information, as actual outcomes and results may differ materially from those contemplated by this forward-looking information as a result of such risks and uncertainties. Additional information will also be set forth in other public filings that we make available under our profile on SEDAR+ at www.sedarplus.ca from time to time. The forward-looking information provided in this press release relates only to events or information as of the date hereof, and is expressly qualified in their entirety by this cautionary statement. Except as required by law, we do not assume any obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
