Odoo secures $526 million investment

Published On : 2024-11-28T07:31:07+0530 [ IST ] | Author : Mayur_Tembhare
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Odoo SA a provider of integrated business software has announced a $526 million secondary capital transaction led by CapitalG and Sequoia Capital. BlackRock, Mubadala Investment Company HarbourVest Partners AVP and Alkeon also participated. Existing investors Summit Partners, Noshaq

Odoo has over 13 million users globally adding 7,000 new clients each month. The company has maintained a 40% annual growth rate and projects billings of €1 billion by 2027. Its valuation has risen to €5 billion following this investment

Odoo plans to open five new subsidiaries across Europe Latin America and Asia-Pacific by 2025. Recent investments will support product development and global operations.

The company recently launched Odoo 18, introducing updates to its software suite. Founder and CEO Fabien Pinckaers highlighted the focus on improving ERP accessibility for small and medium-sized enterprises citing ongoing challenges in traditional

“Odoo’s integrated software has seen adoption across various industries and geographies,” said Alex Nichols of CapitalG. Mubadala’s Faris Al Mazrui noted the company’s role in supporting

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