Total amount raised
$1.1 Billion
Latest funding date
11/1/2024
Location
Odoo has successfully raised funds over 8 rounds, with the latest being a Secondary Market round. The company is backed by 13 investors, including Alkeon Capital and AVP.
Keep reading to explore the intricacies of Odoo's fundraising journey and the investors backing this innovative platform.
What Is Odoo?
Odoo is a private company based in Louvain-la-neuve, Vlaams-Brabant, Belgium. It specializes in providing open-source business software, including ERP and CRM solutions. The company operates in various industries such as CRM, Enterprise Resource Planning (ERP), Open Source, and Software.
Founded in 2005, Odoo has grown significantly, employing between 5001 and 10000 people. The company offers a suite of business applications designed to be easy to use and fully integrated, catering to diverse business needs.
How Much Funding Has Odoo Raised?
- Round Name: Series A
- Amount Raised: EUR 3,000,000
- Date: February 2010
- Lead Investors: Sofinnova Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the development of their open-source business software.
- Round Name: Series B
- Amount Raised: USD 10,000,000
- Date: May 2014
- Lead Investors: Sofinnova Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Round Name: Secondary Market
- Amount Raised: USD 90,000,000
- Date: December 2019
- Lead Investors: Summit Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Round Name: Private Equity
- Amount Raised: EUR 180,000,000
- Date: July 2021
- Lead Investors: Summit Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Round Name: Private Equity
- Amount Raised: EUR 112,000,000
- Date: June 2022
- Lead Investors: Summit Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their product suite and enter new markets.
- Round Name: Private Equity
- Amount Raised: EUR 150,000,000
- Date: June 2023
- Lead Investors: General Atlantic
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic acquisitions and enhance technological capabilities.
- Round Name: Secondary Market
- Amount Raised: EUR 500,000,000
- Date: November 2024
- Lead Investors: CapitalG, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to shareholders and fund future growth initiatives.
Total Amount Raised: USD 1,045,000,000
Current Valuation: Not publicly disclosed
Key Investors
- Alkeon Capital
- Details: Alkeon Capital is a global investment firm that participated in Odoo's Secondary Market funding round. The firm is known for its focus on technology and growth-stage companies.
- Investment Focus Areas: Technology, growth-stage companies, innovation.
- Notable Investments: Not publicly disclosed.
- AVP (AXA Venture Partners)
- Details: AVP is a venture capital firm that invests in technology and innovation. They were one of the most recent investors in Odoo.
- Investment Focus Areas: Technology, innovation, early-stage companies.
- Notable Investments: Not publicly disclosed.
- Summit Partners
- Details: Summit Partners is a global alternative investment firm that has invested in multiple rounds of Odoo's funding. They focus on growth equity, fixed income, and public equity opportunities.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Uber, Avast, McAfee.
- General Atlantic
- Details: General Atlantic is a leading global growth equity firm that participated in Odoo's Private Equity round in June 2023. They focus on providing capital and strategic support to growth companies.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Airbnb, Slack, ByteDance.
- CapitalG
- Details: CapitalG is the growth equity investment fund of Alphabet Inc. They participated in Odoo's Secondary Market round in November 2024.
- Investment Focus Areas: Technology, data, artificial intelligence.
- Notable Investments: Stripe, Lyft, Duolingo.
What's Next for Odoo?
With €150 million in fresh capital, Odoo is poised to seize significant growth opportunities. This financial boost will enable the company to expand its product offerings and penetrate new markets, capitalizing on the robust investment environment in European tech.
Future fundraising seems promising, given the active investment landscape and Odoo's demonstrated potential. However, the company must navigate challenges such as intense competition and the need for continuous innovation to maintain its edge.
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