Total amount raised
$1.1 Billions
Latest funding date
Location
Title
Odoo has successfully raised funding through multiple rounds, attracting a diverse group of investors. The platform offers a comprehensive suite of integrated business applications designed to streamline various company operations.
Keep reading to explore the intricacies of Odoo's fundraising journey and the investors backing this innovative platform.
What Is Odoo?
Odoo, founded in 2005 by Fabien Pinckaers, is headquartered in Louvain-la-Neuve, Belgium. The company specializes in providing a suite of integrated business applications designed to streamline various company operations.
These applications cover a wide range of functionalities, including CRM, eCommerce, accounting, and inventory management. Odoo offers both a free open-source edition and a paid edition with additional features and professional services.
With a workforce of 1001-5000 employees, Odoo continues to grow, serving businesses of all sizes with its comprehensive and customizable software solutions.
How Much Funding Has Odoo Raised?
- Amount Raised: €3M (approx. $3.3M)
- Date: February 2010
- Lead Investors: Sofinnova Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and enhance the open-source ERP software.
- Amount Raised: $10M
- Date: May 2014
- Lead Investors: Sofinnova Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product offerings and scale operations.
- Amount Raised: $90M
- Date: December 2019
- Lead Investors: Summit Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enter new markets.
- Amount Raised: $215M
- Date: July 2021
- Lead Investors: Summit Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand globally.
- Amount Raised: €112M (approx. $120M)
- Date: June 2022
- Lead Investors: Summit Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and support international expansion.
- Amount Raised: €150M (approx. $160M)
- Date: June 2023
- Lead Investors: General Atlantic
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and invest in new technologies.
- Amount Raised: €500M (approx. $530M)
- Date: November 2024
- Lead Investors: CapitalG, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic acquisitions and fuel further growth.
Odoo has raised a total of $1.1 billion. The current valuation is not publicly disclosed.
Key Investors
- CapitalG
- Details: CapitalG is the growth equity investment arm of Alphabet Inc. They focus on late-stage growth companies.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Airbnb, Stripe, Lyft.
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that has been investing in early and growth-stage companies since 1972. They are known for backing companies that now control $1.4 trillion of combined stock market value.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Apple, Google, WhatsApp.
- General Atlantic
- Details: General Atlantic is a global growth equity firm providing capital and strategic support for growth companies. They have over 40 years of experience in investing.
- Investment Focus Areas: Technology, consumer, healthcare, financial services.
- Notable Investments: Airbnb, Alibaba, Uber.
- Summit Partners
- Details: Summit Partners is a global alternative investment firm that invests in growth equity, fixed income, and public equity opportunities. They have invested in more than 500 companies in technology, healthcare, and other growth sectors.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Avast, McAfee, Uber.
- Sofinnova Partners
- Details: Sofinnova Partners is a leading European venture capital firm specializing in life sciences and technology. They have over 40 years of experience in backing entrepreneurs.
- Investment Focus Areas: Life sciences, technology, industrial biotech.
- Notable Investments: Actelion, Shockwave Medical, Ascendis Pharma.
What's Next for Odoo?
Odoo's recent €150 million investment marks a significant opportunity for the company to expand its product offerings and enter new markets. The robust investment environment in the European tech sector, with over €831 million invested in a single week, indicates a growing interest in tech companies like Odoo.
Future fundraising opportunities seem promising, given the substantial recent investment. This financial backing could help Odoo scale its operations and invest in new technologies. However, challenges such as competition in the tech sector and the need for continuous innovation may pose hurdles along the way.
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