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Riding high on open source ERP, Odoo raises $527M via secondaries, lifting its valuation to $5.26B
Belgium-based Odoo decided to use open-source tools as a way to attack the enterprise resource planning (ERP) software market, going up against giants
Fast forward a couple of decades and it’s now picking up €500 million in secondary investment — or around $527M at current exchange rates — led by CapitalG (Alphabet’s venture fund) and Sequoia Capital plus other investors. Writing on his company’s blog, Pinckaers added: “ERPs are traditionally expensive and resource-intensive to implement, often failing to meet the actual needs and evolving requirements of SMEs. Previous investors include Noshaq, Summit Partners, and Wallonie Entreprendre, which all sold secondary shares to CapitalG and Sequoia as part of this round.
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