Odoo SA (www.Odoo.com), a renowned provider of integrated open-source business software applications for small and medium-sized enterprises (SMEs), is pleased to announce a strategic investment of approximately €150m from General Atlantic, a leading global growth equity firm. This investment will enable Odoo SA to fuel its ongoing expansion efforts.
Since its establishment in 2002 by CEO Fabien Pinckaers, Odoo SA has disrupted the global SME productivity software market with its innovative "open core" philosophy.
This approach has empowered community developers to create an impressive library of nearly 40,000 software applications, covering critical business functions like Finance, Sales, HR, and Marketing. As a result, Odoo boasts one of the world’s largest business application stores. By offering an affordable integrated suite, Odoo enables SMEs to consolidate their software vendors, eliminating the need for expensive individual point solutions. Moreover, Odoo’s single integrated codebase facilitates seamless data transfer and interoperability between apps, streamlining operations and saving valuable time and money.
The ERPixel company is happy to congratulate Odoo SA on the remarkable investment of €150m! We are excited to continue our partnership and witness the incredible growth and success that lies ahead.ERPixel Team
The success of Odoo’s all-in-one approach is evident through its consistently positive customer and partner feedback, resonating strongly with SMEs worldwide. With a presence in 19 global offices and serving over 50,000 paying customers across more than 200 countries, Odoo is strategically positioned to tap into the growing ERP market, projected to exceed $90B by 2029.
Fabien Pinckaers, Founder and CEO of Odoo SA, expressed his pride in the accomplishments of the company, emphasizing its commitment to continuous innovation. He stated,
“General Atlantic’s partnership, with their global platform and software expertise, will play a pivotal role as we pursue sustained and strategic growth on a global scale.”
Tom Hussey, Principal at General Atlantic, emphasized their belief in Odoo’s unique value proposition for SMEs and its potential for continued growth. He highlighted that Odoo provides an integrated product suite that empowers business owners at a fraction of the cost of individual point solutions. General Atlantic is excited to support Odoo in capitalizing on its global market opportunity.
Damien Lourtie, CFO of Wallonie Entreprendre and a member of the Odoo SA Board of Directors, expressed his delight in welcoming General Atlantic as a partner for the company’s next phase of growth. Recognizing Odoo’s potential to become a global category leader beyond ERP, Lourtie affirmed Wallonie Entreprendre’s continued support as a reference shareholder. Wallonie Entreprendre has been a significant institutional investor in Odoo since 2014, successfully enabling scale-up growth.
Morgan Stanley and BNP Paribas Fortis acted as financial advisors to General Atlantic in this investment.
Distributed by APO Group on behalf of Odoo S.A.