Odoo Raises €500M at €5 Billion Valuation
Odoo, a Louvain-la-Neuve, Belgium-based provider of integrated business software, has raised a €500 million investment, valuing the company at €5 billion.
The round was led by CapitalG and Sequoia Capital, with participation from BlackRock, Mubadala, HarbourVest, AVP, and Alkeon.
CapitalG is Alphabet's independent growth fund, investing capital to help remarkable entrepreneurs and transformational companies accelerate their growth.
Sequoia Capital, headquartered in Menlo Park, California, is a venture capital firm specializing in seed-stage, early-stage, and growth-stage investments across technology sectors. It helps founders build legendary companies from inception to IPO and beyond.
The investment will support Odoo’s expansion into new markets and enhance its R&D capabilities.
Founded in 2002 by Fabien Pinckaers, Odoo is a software company offering a comprehensive suite of applications designed to help small and medium-sized businesses (SMBs) manage various aspects of their operations. The company provides tools for everything from sales and marketing to accounting, inventory management, and human resources. Odoo serves over 13 million users and adds 7,000 new clients monthly.
Funding Details
Company: Odoo S.A.
Raised: €500.0M
Round: Unknown
Funding Date: November 2024
Lead Investors: CapitalG, Sequoia Capital
Additional Investors: BlackRock, Mubadala, HarbourVest, AVP, Alkeon
Company Website: https://www.odoo.com/
Software Category: Business Management