– Passage Retrieval API enhances accuracy, relevance, and security, reducing hallucinations and protecting sensitive data for smarter, more reliable GenAI applications

– Proven with global enterprises, new Passage Retrieval API accelerates time-to-value with industry-leading retrieval

MONTREAL and SAN FRANCISCO, Feb. 6, 2025 /CNW/ – Coveo (TSX: CVO), the market leader in AI-Relevance — delivering AI-search, generative, and business-aware relevance at every point-of-experience, today announced that the Coveo Passage Retrieval API, a headless retrieval method for generative AI applications that leverages the Coveo’s best-of-breed AI-Relevance PlatformTM, is now generally available.

Coveo’s Passage Retrieval API: Strategic and critical for enterprises’ GenAI success

“Enterprises today are challenged with turning vast amounts of fragmented data into accessible and relevant knowledge for generative and conversational AI,” said Laurent Simoneau, Co-Founder, President and CTO at Coveo. “While large language models (LLMs) hold immense potential, their success hinges entirely on the quality of the data they access—a growing concern as many enterprises develop their own GenAI applications. Many organizations are adopting Retrieval-Augmented Generation (RAG) and quickly realizing that the hardest part—the ‘R’—lies in retrieving precise and relevant information from scattered enterprise systems. This critical step ensures secure, accurate, and relevant AI responses, yet its complexity often hinders progress.”

Coveo’s Passage Retrieval API directly addresses this challenge by delivering precise, trustworthy text to LLMs and AI applications, including Salesforce Agentforce, Microsoft Copilot, Amazon Bedrock Agents, and SAP Joule. The API boosts accuracy, minimizes hallucinations, and meets enterprise security requirements, all while improving deployment speed and reducing costs. Organizations can, therefore, consistently scale multiple generative AI applications using a single, reliable retrieval method.

A Unified Index for All Your GenAI Needs

With Coveo’s proven information retrieval method and advanced relevancy and ranking techniques now available to power generative AI applications, organizations can ground results in enterprise knowledge with greater efficiency and significantly accelerate time-to-value. Coveo’s platform centers on an industry-leading unified index that combines advanced ranking techniques—lexical, vector-based, and behavioral—to securely connect data from systems like CRMs, ERPs, ITSMs, and CMSs using prebuilt connectors. This eliminates redundant indexing and integration work, cutting maintenance costs while supporting a wide range of AI applications such as search, recommendations, generative AI and content discovery.

Designed to scale seamlessly, the platform handles large data sets, high user volumes, and multiple applications. With hybrid semantic and lexical indexing, machine learning models like Automatic Relevance Tuning (ART), and personalized ranking, as well as control over weighting factors and business rules in the query pipeline, Coveo continuously improves retrieval results, ensuring enterprise-wide AI performance that evolves with each user interaction.

Early Access Program Sees Impressive Results

Early Access Program customers saw impressive results. One Fortune 500 software organization that implemented Coveo’s Passage Retrieval API reported that in only 2 weeks they were able to improve article and passage retrieval accuracy by 22% over their in-house retrieval tool which led to a 73% improvement in generated answer accuracy of their internal GenAI chatbot.

“Integrating Coveo’s Passage Retrieval API has improved our ability to deliver highly customized AI solutions,” said Eric Immermann, Search and Content Practice Director at Perficient, a close System Integration partner of Coveo who tested the Passage Retrieval API during our Early Access Program. “From automating sales queries and enhancing global search experiences for our clients, to powering our own internal RFI generation tool, we’ve seen how better relevance in generative answering drives efficiency and business value. With Coveo’s unified hybrid index, we can improve answer relevance across various GenAI applications — making AI adoption faster, easier, and more cost-effective for us and our clients.”

Unlocking Possibilities: Top Use Cases for Coveo’s Passage Retrieval API

Custom GenAI Experiences: Improve the reliability and security of any generative AI application by providing your LLM with the most relevant passages from unified enterprise content sources.Chatbots and Virtual Agents: Improve the relevance of the answers from your chatbots, co-pilots, and agentic AI applications so your users experience personalized and context-rich conversations.Internal Knowledge Management: Empower employees with personalized, accurate answers grounded in enterprise knowledge, reducing search time and boosting productivity.Customer-Facing Support & Case Deflection: Provide precise self-service answers cited from support knowledge that minimize escalations, lower support costs, and boost customer satisfaction.

Discover the power and versatility of the Coveo Passage Retrieval API. Whether you’re working with AI platforms like Salesforce Einstein, Microsoft Azure AI, AWS Bedrock, or IBM Watson; LLM models such as Google Gemini, Anthropic Claude, and OpenAI GPT-4o; or AI agents like Salesforce Agentforce, Microsoft Copilot, Amazon Q Business, and SAP Joule, our API ensures more relevant answers and enhanced user experiences. Explore our blog to learn more.

Just getting started with RAG? Learn how Coveo’s advanced search and retrieval solutions can elevate your RAG strategy for precision and speed. Watch the webinar on-demand or join us at our next Relevance 360 virtual event, register here.

About Coveo

Coveo brings superior AI-Relevance to every point-of-experience, transforming how enterprises connect with their customers and employees to maximize business outcomes.

Relevance is about moving from persona to person, the degree to which the enterprise-wide content, products, recommendations, and advice presented to a person online aligns easily with their context, needs, preferences, behavior and intent, setting the competitive experience gold standard. Every person’s journey is unique, and only AI can solve the complexity of tailoring experiences across massive, diverse audiences and large volumes and variety of content and products.

Our Coveo AI-Relevance Platform™ ️enables enterprises to deliver hyper-personalization at every point-of-experience, unifying all their data securely, with the highest level of contextual and prescriptive accuracy while simultaneously optimizing business outcomes.

Coveo brings AI-Relevance to the digital experiences of many of the world’s premier and most innovative brands, serving millions of people across billions of interactions.

What we believe is bold: Digital is table stakes, Relevance is not. It’s the only way to win in the digital age.

The Coveo AI-Relevance 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, Optimizely Partner, Shopify Partner, and a Genesys AppFoundryⓇ ISV Partner.

Coveo is a trademark of Coveo Solutions Inc.

Stay up to date on the latest Coveo news and content by subscribing to the Coveo blog, and following Coveo on LinkedIn and YouTube.

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (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.

Forward-looking information is necessarily based on a number of opinions, estimates, and assumptions 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. 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 available under our profile on SEDAR+ at www.sedarplus.ca. 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.

Moreover, we operate in a very competitive and rapidly changing environment. 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.

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.

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SOURCE Coveo Solutions Inc.

Former EverService executive joins CTM to oversee product development and CX initiatives

MILLERSVILLE, Md., Feb. 6, 2025 /PRNewswire/ — CallTrackingMetrics, a global conversation analytics company, today announced the appointment of Chris Lafferty as Vice President of Product and Customer Experience. This strategic hire reinforces CTM’s commitment to product innovation and exceptional customer experience as the company continues its growth trajectory.

Lafferty brings extensive experience in product development and business leadership, with a proven track record of creating innovative, user-centric solutions across legal tech, SaaS and AI sectors. Most recently serving as General Manager & Executive Vice President at EverService (Nexa and Alert Communications), where he led the legal business unit, Lafferty has demonstrated success in driving growth and operational excellence throughout his career which has included leadership roles at Casetext, FiscalNote and Thomson Reuters.

“Chris’s deep expertise in AI integration, product development and customer experience makes him the ideal leader to drive our product strategy forward,” said Todd Fisher, CEO and co-founder of CallTrackingMetrics. “His history of building and scaling high-performing teams aligns perfectly with our mission to deliver innovative solutions that help businesses optimize their marketing and communications.”

In his new role, Lafferty will oversee CTM’s product development and customer experience initiatives, focusing on enhancing the company’s conversation analytics platform through AI-powered innovations and user-centric design. His expertise in developing go-to-market strategies and optimizing customer onboarding will be instrumental in accelerating CTM’s growth and market presence.     

“I’m thrilled to join the talented team at CallTrackingMetrics,” said Lafferty. “As a bootstrapped company that has achieved remarkable success over the past decade, CTM has demonstrated its commitment to innovation and customer success. I look forward to contributing to the company’s continued growth by delivering impactful solutions that drive measurable results for our clients.”

To learn more about CallTrackingMetrics and its offerings, visit https://www.calltrackingmetrics.com/.

About CallTrackingMetrics
CallTrackingMetrics is an award-winning, global conversation analytics company founded and led by a husband-wife team that enables marketers to make effective data-driven decisions and increase ROI. Over 100,000 users, including The Washington Post, Verizon Connect, and ServiceMaster, rely on CTM to track and attribute all online and offline leads across multiple platforms through native integrations with core tools like Google Ads and Analytics, HubSpot, Salesforce, Zoom, and Facebook. CallTrackingMetrics is named an industry leader, year after year, by top software publications like G2 and Capterra and is regularly recognized for its growth and innovative culture. CallTrackingMetrics.com     

CONTACT:
Alyssa Rinehart
BLASTmedia for CallTrackingMetrics
calltrackingmetrics@blastmedia.com
317.806.1900

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SOURCE CallTrackingMetrics

Advancing Adoption through Enhanced Mass Production and Accelerated Product Launches

TOKYO, Feb. 6, 2025 /PRNewswire/ — Cellid Inc., a developer of AR glasses displays and spatial recognition engines for next-generation devices, today announced that it has raised a total of USD 13 million (JPY 2 billion) through a private placement with Development Bank of Japan Inc. as the lead investor, and through a third-party allotment of new shares to funds managed or involved in the management of More Management Co., Ltd.; CVC fund jointly established by Kyocera Corporation and Global Brain Corporation; 15th Rock, Inc.; and FFG Venture Business Partners Co., Ltd. This latest financing brings Cellid’s total funding raised to date to approximately USD 33 million (JPY 5.2 billion).

Cellid’s core business is the development of displays for AR glasses and spatial recognition engines. In particular, Cellid boasts the industry’s most advanced technology in the development and design of the world’s largest, widest field of view and lightest weight waveguide, and has succeeded in developing the first full-color projection technology using plastic materials.

Last November, Cellid announced the release of “Reference Design” (verification model) -eyeglass-type AR glasses that employs the optical see-through waveguide display method. By adopting our original waveguide, we succeeded in creating a design that is no different from that of ordinary glasses and lightweight (approx. 58g), and compared to conventional head-mounted display-type glasses, the new glasses reduce eye fatigue even after long hours of daily use.

This financing will enable Cellid to strengthen the lineup of products and reference designs that are key components of AR glasses, such as micro projectors and waveguides, and promote the development of business areas that make use of reference designs. Cellid will also accelerate the market launch of their products by strengthening their mass production system.

Underwriters

Development Bank of Japan Inc.More Management Co., Ltd.KVIF-I Limited Partnership（Limited partner: Kyocera Corporation; General partner: Global Brain Corporation）15th Rock, Inc. FFG Venture Business Partners Co., Ltd

Cellid CEO Satoshi Shiraga comments:

“We are honored that the Development Bank of Japan Inc. and other financial investors and partners have recognized Cellid’s business, which is centered on the development of displays for AR glasses and spatial recognition engines, as well as our growth potential. As AR glasses are increasingly attracting attention as a more accessible next-generation device, we are pursuing their evolution through the development of key components for AR glasses, such as waveguides and micro projectors. With this financing, we aim to accelerate the market launch of our products and contribute to the further adoption of AR glasses by acquiring top talent in Japan and abroad, while strengthening our technological development capabilities and expanding our mass production system.”

Investor Comments

Akira Nagai, Senior Vice President, Growth & Cross Border Investment Department, Development Bank of Japan Inc.

“AR glasses have been in the limelight in recent years as next-generation wearable devices, but innovation in lenses, a key component, is essential for their full-scale diffusion. In this context, we are highly impressed with Cellid’s world-class technology for waveguide lenses and the fact that it has established a supply chain through close collaboration with Japanese optical materials and semiconductor processing companies, which are highly competitive worldwide. DBJ feels that Cellid has the potential to become the de facto standard for waveguides and will do its utmost to support Cellid’s growth strategy in the future.”

Akihiro Matsuyama, Representative Director, More Management Co., Ltd. 

“We are pleased to announce that we have executed a follow-on investment in Cellid from our fund, whose lead investor is AXA Life Insurance Co. Ltd. We highly valued their advanced technologies related to AR and decided to invest for them to commercialize their products with global companies. We expect that their products will bring people’s relationship with computers closer and bring innovation to their lives. As a shareholder, we will actively support them.”

Shouichi Nakagawa, Executive Officer, Senior General Manager, Corporate R&D Group, Kyocera Corporation

“We are very pleased that KVIF-I has invested in Cellid. We are committed to cutting-edge research and development to fulfill our corporate Management Rationale, ‘contribute to the advancement of society and humankind’. AR and other XR technologies are building a new relationship between humans and computers. Glass waveguides and spatial recognition engines developed by Cellid are essential in our search for the next generation of key devices. We are committed to supporting Cellid as they take on the challenge of using their advanced technology to contribute to the advancement of society and humankind.”

Tetsu Nakajima, Founder/General Partner, 15th Rock, Inc.

“The AR glasses market continues to expand, with large companies expected to enter the market. Cellid, with its innovative manufacturing technology and knowledge, has huge potential for growth. 15th Rock, with a core focus on supporting innovations in Human Augmentation, will fully support Cellid’s mission by making the most of the knowledge and network it has cultivated to date.”

Miruto Ōhara, Investment Manager, Investment Department, FFG Venture Business Partners

“We are very pleased to invest in Cellid, a leading Japanese developer of AR glasses devices, which are rapidly gaining attention around the world, especially among big tech companies, as the next-generation device following smartphones. CEO Satoshi Shiraga and his management team have great potential to develop cutting-edge Japanese technology on a global scale. It is very exciting to imagine a near future in which Cellid’s products will be available in the market and in the hands of many people around the world. The entire Fukuoka Financial Group (FFG) is committed to supporting Cellid’s further growth and address of challenges.”

About Cellid
Cellid specializes in the development of advanced AR glass display modules, focusing on waveguides and spatial recognition engines for next-generation devices. Leveraging unique optical simulation and proprietary production technologies, Cellid has developed display modules as thin and lightweight as standard eyeglass lenses, delivering clear images and one of the world’s largest fields of view for waveguides. Additionally, Cellid offers industry-specific solutions powered by spatial recognition technologies such as Cellid SLAM. By integrating cutting-edge AR display hardware with real-world spatial recognition software, Cellid is driving the “Blending of Physical and Digital World,” making exceptional information tools more accessible, practical, and convenient for users worldwide

Media Inquiries: 

Michael Kornspan
michael.kornspan@strategicpr.biz 

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SOURCE Cellid Inc.