Globe & Mail 08:27 AM EDT, 03/20/2023 (MT Newswires) -- Coveo (CVO.TO), an AI platform specifically built to make every digital experience relevant, issued Monday a statement regarding the events involving Silicon Valley Bank (SVB).
The company's shares fell 4.5% in Canada on Friday.
Coveo said it has an "immaterial" business impact from the closure of the Silicon Valley Bank even though the company has an operating account at SVB for one of its subsidiaries to make and receive payments.
Also, the company said the SVB situation does not materially impact its vendors, partners, or customers. Coveo will continue to monitor the situation closely.