Coveo, a relevance platform that works to enhance digital experiences with AI-powered search, recommendations and personalization, has acquired Qubit, a provider of AI-powered personalization technology for merchandising teams. The deal is expected to accelerate Coveo’s geographic expansion into the UK and European markets.
Coveo and Qubit’s combined ecommerce experience will help the companies develop solutions that enable retailers to keep up with evolving consumer expectations regarding relevance at scale through the use of AI. The combined offering will include tools designed to help deploy promotions, test what’s working and rapidly iterate. The acquisition expands the Coveo Relevance Cloud with new functionalities, including:
- Tapping into AI-powered commerce search that can detect shopper intent and determine individual context;
- Equipping merchandising teams to shape the shopper journey with tools from guided browsing to product listing pages, all optimized through A/B and multivariate testing and analytics;
- Engaging shoppers across expanding digital touch points, from chatbots to mobile applications, using plug-in UI components, headless API and open commerce support;
- Being relevant across the customer lifecycle with shared personalization across customer self-service, assisted support and customer communities; and
- Leveraging combined commerce and retail expertise across beauty and cosmetics, fashion, luxury and other retail segments.
“Qubit’s IP and expertise comes at a perfect time as enterprises turn to AI-driven solutions to provide highly relevant responses, offers and recommendations to their customers at scale,” said Louis Têtu, Chairman and CEO of Coveo in a statement. “Adding Qubit’s capabilities to the Coveo Relevance Cloud platform helps us accelerate the delivery of new incremental innovations to further personalize digital commerce experiences.”
Approximately 90 Qubit employees will join Coveo, bringing the total number of Coveo employees to more than 750 globally.