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- Odoo
Odoo Revenue, Valuation, Funding & Investors
Odoo is valued at $8.1B as of January 2026, a 11.3x revenue multiple. Odoo revenue was $712M, as disclosed with its latest round.
Last Odoo valuation
$8.1B
Secondary · Jan 2026
Last Odoo funding round
$164M
Undisclosed stage · Jun 2023
Odoo revenue
$712M
Secondary · Jan 2026
Key investors in Odoo
Summit Partners
General Atlantic
Sofinnova Partners
AVP
Alkeon Capital
S.R.I.W.
About Odoo
Odoo is a Belgian developer of open-source business management software, with its registered office and R&D farms in Grand-Rosière in Wallonia and a large finance, marketing and sales office in Louvain-la-Neuve. Its integrated suite covers accounting, invoicing, CRM, sales, eCommerce, point of sale, inventory, manufacturing, HR, payroll, marketing and website building, sold as a free Community edition and a paid Enterprise subscription that can run on-premise or on Odoo's own cloud hosting. The platform targets small and medium-sized enterprises, and its open-core model has allowed community developers to create nearly 40,000 applications. Odoo serves more than 170,000 paying customers in 180 countries through thousands of partners, expected about €650 million of billing revenue in 2025 and employs close to 7,000 people. The company is profitable and has raised little primary capital; its valuation rose through secondary share sales to Summit Partners, General Atlantic, CapitalG and Sequoia Capital, reaching €7 billion in January 2026. Odoo is led by founder and chief executive Fabien Pinckaers, and the business traded as OpenERP before adopting the Odoo name in 2014.
Founded
2005
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription, Licensing
Revenue
$712M (Jan 2026)
Valuation
$8.1B (Jan 2026)
Odoo Valuation
Odoo is currently valued at $8.1B, based on its secondary sale in January 2026. Read the announcement ↗
The $71M round included AVP, General Atlantic and Alkeon Capital.
Odoo's valuation has grown 18x from $448M at its secondary sale in December 2019 to $8.1B in January 2026, across 6 priced rounds.
Odoo valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2026 | Secondary | $8.1B | 11.3x |
| Nov 2024 | Secondary | $5.8B | 19.3x |
| Jun 2023 | Undisclosed stage | $4.1B | - |
| Jun 2022 | Secondary | $3.4B | - |
| Jul 2021 | Secondary | $2B | 11.1x |
| Dec 2019 | Secondary | $448M | - |
Odoo Revenue
Odoo's latest recorded revenue is $712M, as of its secondary sale in January 2026. At a $8.1B valuation, that implies a 11.3x revenue multiple.
Revenue grew from $184M in July 2021 to $712M in January 2026, while the revenue multiple moved from 11.1x to 11.3x.
Odoo revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2026 | $712M | $8.1B | 11.3x | Secondary |
| Nov 2024 | $298M | $5.8B | 19.3x | Secondary |
| Jul 2021 | $184M | $2B | 11.1x | Secondary |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Odoo Funding History
Odoo has raised a total of $178M across 3 funding rounds, plus 5 secondary share sales.
Odoo's first fundraising round was a $4M Series A in January 2010. The most recent completed round was a $164M undisclosed-stage round in June 2023.
Odoo funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2026 | Secondary | AVP; General Atlantic; Alkeon Capital | $71M | $8.1B | On 16 January 2026, AVP and Alkeon announced a €60 million secondary transaction in Odoo S.A. at a valuation of more than €7 billion, in which existing management vehicles sold and rolled a portion of their shares. On the same day General Atlantic announced the close of a follow-on investment in Odoo, buying an additional minority stake from Wallonie Entreprendre, the Walloon region's investment arm, in a transaction that valued the company at €7 billion; Wallonie Entreprendre retained a 3% stake. The deal followed the €500 million secondary round led by CapitalG and Sequoia Capital in November 2024, which had valued Odoo at €5 billion. Odoo, led by founder and chief executive Fabien Pinckaers, develops an integrated open-core suite of business applications for small and medium-sized enterprises covering finance, sales, HR and marketing, and community developers have built nearly 40,000 applications on the platform. The company serves more than 170,000 paying customers and is growing profitably in 180 countries, with its top 15 markets expanding by more than 30% a year. AVP put Odoo's 2025 revenue at an estimated €650 million, with about 7,000 employees, and the company targets €1 billion by 2027. |
| Nov 2024 | Secondary | CapitalG (lead); Sequoia Capital (lead); AVP; BlackRock; Mubadala; Alkeon Capital; HarbourVest Partners | $529M | $5.8B | Odoo S.A., a Louvain-la-Neuve, Belgium-based provider of integrated business software including ERP applications for SMBs, completed a €500 million secondary share transaction on November 20, 2024, valuing the company at €5 billion. The deal was led by CapitalG and Sequoia Capital, with participation from BlackRock, Mubadala Investment Company, HarbourVest Partners, AVP, and Alkeon Capital. Existing investors Summit Partners, Noshaq, and Wallonie Entreprendre sold portions of their shares, with Summit remaining the largest institutional shareholder. This secondary transaction reflects Odoo's strong financial profile and leadership in the SMB software market, where it offers a suite of over 80 open-source and enterprise applications covering HR, accounting, e-commerce, and more. The company serves over 13 million users across more than 100 countries and adds about 7,000 new customers monthly. Odoo ended 2023 with €370 million in billings, projecting €650 million for 2025 and €1 billion by 2026. Odoo has not raised primary capital since a 2014 Series B round of $10 million and was previously valued at €3.2 billion. The firm reports 40-50% annual growth, cash profitability, and a business model with majority free open-source software and 20% from paid enterprise products. |
| Jun 2023 | Undisclosed stage | General Atlantic (lead) | $164M | $4.1B | In June 2023, Odoo SA received a strategic investment of approximately €150 million from General Atlantic, the global growth equity firm, announced on 26 June 2023 in Brussels and New York. The capital was intended to support Odoo's continued global expansion, and General Atlantic principal Tom Hussey cited the company's differentiated value proposition for small and medium-sized enterprises, its global partner network and its commitment to product innovation. No valuation was announced for the round, but Belgian press put Odoo at about €3.75 billion at the time; Odoo had been valued at €3.2 billion in a secondary share sale among investors a year earlier. At the time Odoo occupied 19 offices worldwide and served more than 50,000 paying customers across more than 200 countries, and its open-core model had allowed community developers to build nearly 40,000 applications. Odoo, led by founder and chief executive Fabien Pinckaers, sells an integrated suite of open-source business applications covering accounting, sales, CRM, inventory, manufacturing, HR and marketing, earning subscription fees on its Enterprise edition and cloud hosting. General Atlantic increased its stake in January 2026 by buying shares from Wallonie Entreprendre at a €7 billion valuation. |
| Jun 2022 | Secondary | Summit Partners (lead) | $117M | $3.4B | Odoo is a Belgium-based provider of integrated business software offering a comprehensive suite of applications for small and medium-sized businesses. The company's platform includes tools for accounting, manufacturing, project management, HR, inventory, marketing, and website building, along with an app store containing over 30,000 applications. In June 2022, Odoo completed a private equity round led by Summit Partners, raising €112 million to further develop its product suite and enter new markets. The company had grown to approximately 1,700 employees worldwide and achieved consistent growth exceeding 50% annually over a ten-year period. Odoo serves over 13 million users globally and adds approximately 7,000 new clients monthly, with a presence across multiple international offices including operations in Belgium, Luxembourg, USA, India, Mexico, Hong Kong, and Dubai. |
| Jul 2021 | Secondary | Summit Partners (lead) | $215M | $2B | Odoo, a Belgium-based provider of open-source all-in-one business software including ERP, CRM, inventory management, HR, accounting, manufacturing, project management, marketing, and website builder, raised approximately $215 million (or €180 million) in a secondary funding round on July 29, 2021, led by Summit Partners. This transaction allowed Summit Partners to acquire shares from early investors Sofinnova Partners and XAnge, marking Odoo's first unicorn status as the inaugural IT unicorn in Wallonia, Belgium. The round valued the company at over $2.3 billion according to TechCrunch, while other sources described it as 'unicorn-sized' exceeding $1-2 billion, with no new cash injected into the company as Odoo is profitable and bootstrapped to scale since 2005 with minimal prior funding of €10 million. The investment supports Odoo's next growth phase amid sustained expansion, with average billing growth over 50% annually for the past decade (and 63% over 15 years), 7 million users, 1,700 employees planning to add 1,000 more that year, and expected 2021 billings of €160 million. Summit Partners, having led a prior $90 million round in 2019, strengthened its position as a major shareholder without taking majority control. Han Sikkens joined the board alongside existing director Antony Clavel, emphasizing Odoo's potential to challenge giants like SAP, Microsoft Dynamics, and Oracle through its open-source model and community focus. This 2021 round followed Summit's initial 2019 investment and preceded further transactions including a 2022 Summit-led round and a 2024 €500 million secondary deal led by CapitalG and Sequoia Capital that elevated valuation to €5 billion, with Summit retaining its largest institutional shareholder status. Odoo's profitability and organic growth trajectory underscore its appeal in the business software market. |
| Dec 2019 | Secondary | Summit Partners (lead); Noshaq; S.R.I.W. | $90M | $448M | Odoo is a Belgium-based leader in open-source all-in-one business software, providing solutions for ERP, CRM, inventory management, HR, marketing, and more, with over 4.5 million users worldwide as of December 2019. On December 17, 2019, Odoo closed a $90 million minority investment led by Summit Partners, with participation from Odoo's executive management team and existing investors SRIW and its affiliate Noshaq. This marked Summit Partners' initial equity investment in the company, with Antony Clavel joining the Odoo board. Prior to this deal, Odoo had raised just €10 million across two early rounds since its bootstrapped founding in 2005. The transaction supported Odoo's rapid product development and global expansion, positioning it to disrupt traditional ERP providers like SAP, Microsoft Dynamics, and Oracle. |
| May 2014 | Series B | Sofinnova Partners (lead); S.R.I.W.; XAnge | $10M | - | Odoo (formerly OpenERP), a Belgium-based developer of open-source business applications for SMBs and large corporations, raised $10 million in a Series B funding round in May 2014. The round was led by Sofinnova Partners, with participation from XAnge, SRIW, and the management team. Funds were intended to grow the sales force, accelerate international expansion, and pursue R&D efforts. This followed an earlier Series A round of EUR 3 million in February 2010, also led by Sofinnova Partners, aimed at expanding open-source business software development. The 2014 round supported Odoo's evolution into a suite of simple, affordable business applications covering professional needs. |
| Jan 2010 | Series A | Sofinnova Partners (lead); Xavier Niel | $4M | - | In January 2010, OpenERP, the Belgian open-source business software publisher now known as Odoo, announced that it had raised €3 million from Sofinnova Partners and from Xavier Niel and Olivier Rosenfeld, respectively a manager and a board member of the French telecoms group Iliad. Olivier Sichel represented Sofinnova Partners, the Paris-based venture capital firm that led the round. The money was contributed as growth capital to accelerate the company's development, strengthen its management team and extend distribution of the new OpenERP software-as-a-service offering, and the company opened a US office that year alongside its existing presence in India. At the time OpenERP had a community of more than 300 members and integrators in 26 countries, and its software offered more than 500 modules downloaded by more than 1,000 users each day. The company was founded in 2005 by Fabien Pinckaers and was renamed Odoo in May 2014, when it raised a further $10 million from XAnge, SRIW, Sofinnova Partners and its management team. |
Who has invested in Odoo?
14 investors have backed Odoo across its funding rounds, including Summit Partners, General Atlantic, Sofinnova Partners, AVP, Alkeon Capital and S.R.I.W..
Lead investors include CapitalG, Sequoia Capital, General Atlantic, Summit Partners and Sofinnova Partners.
Odoo Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Dec 2019 | ||
| 2 | Participant | May 2014 | ||
| 2 | Participant | Nov 2024 | ||
| 2 | Lead | Jan 2010 | ||
| 2 | Lead | Jun 2023 | ||
| 2 | Participant | Nov 2024 | ||
| 1 | Participant | Dec 2019 | ||
| 1 | Participant | Jan 2010 | ||
| 1 | Participant | Nov 2024 | ||
| 1 | Lead | Nov 2024 | ||
| 1 | Lead | Nov 2024 | ||
| 1 | Participant | May 2014 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialOdoo Competitors
Odoo competitors include listed companies like ServiceTitan, Oracle Corp Japan, Yonyou Hong Kong and Sage, and private ones like Pennylane and o9 Solutions.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $961M | ($86M) | $7.9B | 6.8x | ||
| Publicly listed | $1.8B | $579M | $7.7B | 4.0x | ||
| Publicly listed | $1.4B | $27M | $4.7B | 3.7x | ||
| Publicly listed | $3.4B | $1B | $14B | 4.3x | ||
| Private | $115M | - | $4.3B | 37.0x | ||
| Private | $150M | - | $3.7B | - |
Odoo Public Comps
Odoo is still privately-owned, but its public comps include ServiceTitan, Oracle Corp Japan, TechnologyOne, Yonyou Hong Kong, Kingdee, TOTVS, Sage, Freee, Digiwin and OBIC.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $961M | ($86M) | 7.8x | 6.8x | (86.7x) | 38.1x | |||
| $1.8B | $579M | 4.1x | 4.0x | 12.9x | 12.3x | |||
| $415M | $177M | 17.5x | 15.3x | 41.0x | 34.3x | |||
| $1.4B | $27M | 3.8x | 3.7x | 196.7x | 83.9x | |||
| $1.1B | $95M | 3.6x | 3.2x | 39.2x | 30.3x | |||
| $1.1B | $298M | 3.8x | 3.0x | 13.4x | 11.4x | |||
| $3.4B | $1B | 4.8x | 4.3x | 15.4x | 16.1x | |||
| $268M | $15M | 5.8x | 5.4x | 104.0x | 64.2x | |||
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Common questions about Odoo
| When was Odoo founded? | Odoo was founded in 2005. |
| Where is Odoo headquartered? | Odoo is headquartered in Grand-Rosière, Belgium. |
| Is Odoo publicly listed? | No, Odoo is a private, VC-backed company. |
| What is Odoo's valuation? | Odoo was last valued at $8.1B in its secondary sale in January 2026. |
| How much funding has Odoo raised? | Odoo has raised $178M across 3 funding rounds. |
| What was Odoo's last funding round? | Odoo's last funding round was a $164M undisclosed-stage round in June 2023, led by General Atlantic. |
| Who are Odoo's investors? | Odoo's investors include Summit Partners, S.R.I.W., AVP, Sofinnova Partners, General Atlantic, Alkeon Capital, Noshaq, Xavier Niel, BlackRock, CapitalG and 4 others. |
| What is Odoo's revenue? | Odoo's latest recorded revenue is $712M (January 2026). |
| What is Odoo's revenue multiple? | Odoo's latest valuation implies a 11.3x revenue multiple ($8.1B valuation on $712M of revenue). |
| Which companies are comparable to Odoo? | Companies comparable to Odoo include ServiceTitan, Oracle Corp Japan, Yonyou Hong Kong, Sage, Pennylane and o9 Solutions. |
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