Odoo SA, a provider of open-source integrated business software applications for small and medium-sized enterprises, has secured a strategic investment of approximately €150 million from global growth equity firm General Atlantic
Odoo SA, a provider of open-source integrated business software applications for small and medium-sized enterprises (SMEs), has secured a strategic investment of approximately €150 million from global growth equity firm General Atlantic.
The investment will be used to support Odoo’s continued global expansion.
Founded in 2002 by CEO Fabien Pinckaers, Odoo’s “open core” philosophy has enabled community developers to create nearly 40,000 software applications for business functions including finance, sales, HR and marketing, making it one of the largest business application stores in the world. Odoo allows SMEs to consolidate their software vendors into one integrated suite. The company’s single integrated codebase also allows for seamless data transfer and interoperability between apps, saving time and money and streamlining operations.
Odoo has 19 offices globally, serving over 50,000 paying customers across more than 200 countries.
Morgan Stanley and BNP Paribas Fortis served as financial advisors to General Atlantic.
