Odoo Secures €500 Million Investment, Boosting Valuation to €5 Billion

The Belgium-based ERP software provider aims to accelerate R&D and expand its global presence with new funding.

Odoo's latest funding round was led by CapitalG and Sequoia Capital, with participation from several major investors, marking a significant secondary share sale.
The company's valuation has now reached €5 billion, up from a previous valuation of €3.2 billion.
Founded in 2002, Odoo offers a suite of over 80 open-source business applications, serving over 13 million users globally.
With this investment, Odoo plans to enhance its research and development efforts, particularly in the area of AI, to remain competitive in the ERP market.
Despite its high valuation and rapid growth, Odoo's CEO Fabien Pinckaers has indicated no immediate plans to take the company public.