Acquisition Enhances Critical AI Capabilities to Transform Shopping Experiences and Boost Conversions
Coveo, an AI-powered business solutions company, announced the acquisition of Tooso, an AI-based digital commerce engines company, to accelerate and expand its capabilities for the digital commerce market.
“This is a game changing combination in the digital commerce market,” Coveo CEO and Chairman Louis Tetu said. “To drive higher conversions, every organization involved in digital commerce needs to deliver relevant offers at every micro-moment of interaction with their buyers, understanding both their contexts and intents, and this is what the combination of Coveo AI and Tooso AI can deliver.”
Tooso’s AI capabilities will enhance Coveo AI, adding more precise and granular understanding of ecommerce shoppers’ intents and needs as they interact with online stores.
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“In digital commerce, the pressure is on for every company to drive up conversions as every individual expects a relevant experience,” said Laurent Simoneau, Coveo Co-founder, President and CTO. “As retailers strive to compete with Amazon, bringing Tooso’s capabilities into Coveo AI launches a new paradigm in the market for intelligent conversion engines.”
By integrating Tooso’s team and technology into Coveo, the company is deepening its ability to enable retailers to deliver experiences matching their shoppers rising expectations. Through more advanced understanding of the shoppers’ intent and cutting-edge analysis of the nuances of human language, Coveo and Tooso can act much like a trusted assistant would, ultimately driving up conversion and satisfaction.
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Ciro Greco, Tooso Co-founder and CEO, added: “We’re delighted to be joining Coveo – the combination of culture, passion and collaboration is a great fit. Our vision has always been to bridge the gap between humans and machines through language, and we believe joining forces with Coveo will unlock incredible possibilities. Our customers are all excited for this new era of Tooso: we’re looking forward to see how far we can push our combined technology and to bring real AI-powered innovation to the world of digital commerce.”
Leroy Merlin Italy is a Tooso client. Ecommerce and Digital Director Lionel Devidal commented: “Tooso has been instrumental in helping us deliver a more relevant experience for our shoppers. As a client, we’re delighted to see them join up with a much larger organization and a leader in AI powered commerce, and we look forward to future product enhancements.”
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