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LOUVAIN-LA-NEUVE, Belgium, Nov. 20, 2024 /PRNewswire/ -- Odoo S.A., a leading provider of integrated business software, today announced a €500 million transaction led by CapitalG and Sequoia Capital, with participation from BlackRock, Mubadala Investment Company, HarbourVest Partners, AVP, and Alkeon. This secondary capital transaction reflects strong confidence in the company's vision and impact. As part of the transaction, existing investors Summit Partners, Noshaq, and Wallonie Entreprendre are selling a portion of their shares; Summit will remain Odoo's largest institutional shareholder.
This major transaction underscores Odoo's leadership position in the SMB software ecosystem and strong, profitable financial profile. It also highlights the company's continued momentum in reshaping the business software landscape with innovative, accessible solutions for companies worldwide.
Since its founding in April 2002, Odoo S.A. has been dedicated to developing and continuously enhancing a comprehensive suite of management software applications for small and mid-sized businesses. Today, with over 13 million users and currently adding more than 7,000 new clients each month, Odoo has built a strong presence in the industry. Known for its intuitive and user-friendly design, Odoo empowers companies to focus on what matters most: improving customer satisfaction, driving innovation, optimizing business processes, and scaling operations efficiently.
Odoo S.A. has achieved sustained annual growth of 40% and is projected to exceed €650 million in billings within the next 12 months, with a target of reaching €1 billion in billings by 2027. The company has strengthened its global presence by establishing 15 subsidiaries and building a network of 7,500 partners worldwide. With this latest investment, Odoo S.A.'s valuation has reached €5 billion.
"Fabien and his team have built a one-of-a-kind business from their ambitious vision for a unified suite of tightly integrated business apps," said Alex Nichols, partner at CapitalG, the independent growth firm of Alphabet Inc., Google's parent company. "Odoo's powerful and easy-to-use suite of apps has won over customers across more than 100 countries and virtually every industry, as well as companies with anywhere from one to thousands of employees. The team's two decades of dedication and long-term thinking has fostered a robust community of partners, contributors, and users that will serve as their foundation for years to come. We are thrilled to partner with Fabien and the rest of Odoo's leadership team."
"Odoo has built an outstanding software company with a unique culture, product suite, and ecosystem," said Andrew Reed, partner, Sequoia Capital. "Odoo is a tremendous business already, and it feels like their best days are still ahead. Odoo has the long-term potential to transform the SMB software market and deliver enormous value to customers. We're excited to partner with Fabien and the Odoo team for the long-term."
The recent launch of Odoo 18, the most advanced iteration of the company's software, on October 2nd, strengthens the company's market position and enhances overall performance and customer experience.
"ERPs are traditionally expensive and resource-intensive to implement, often failing to meet the actual needs and evolving requirements of SMEs. We have developed a unique value proposition that is playing a pivotal role in the market" explains Fabien Pinckaers, founder and CEO of Odoo S.A.
This €500 million investment exemplifies the international recognition and trust that Odoo has garnered within the investment community. Following investments led by Summit Partners in 2019, 2021 and 2022, this latest round further highlights Odoo's appeal to investors.
Faris Al Mazrui, Head of Growth at Mubadala, said "Odoo stands out as a prime example of innovation in global software, offering scalable, adaptable solutions that empower businesses in the digital and cloud transformation journey. With Mubadala's expertise in software investments and the UAE's role as a fast-growing tech hub, we see Odoo as an exceptional partner for companies adapting to cloud and AI megatrends. We're excited to support their growth worldwide".
"Odoo continues to deliver solutions that we believe are helping to transform the business software landscape – and they are doing so with impressive traction," added Antony Clavel, a Managing Director at Summit Partners who has served on the Odoo Board of Directors since Summit's initial investment in 2019. "We are delighted to welcome new investors and look forward to working together to support Odoo's exciting growth trajectory." Following this transaction, Summit remains Odoo's largest institutional shareholder.
Odoo does not stop here. For 2025, the unicorn is already expecting many more opportunities and expansion projects, enhancing Odoo's capabilities for research and development, and allowing accelerated innovation in its product offerings.
"We are expecting to open five new subsidiaries within the next three years across Europe, Latin America and Asia-Pacific," said Sebastien Bruyr, Odoo S.A. Chief Commercial Officer. Odoo's Chief Finance Officer, Alessandro Mazzocchetti, added, "I'm confident that Odoo will remain profitable in terms of EBITDA and Cash Flow as we expand our team and global reach. We will keep working hard to serve our customers and partners!".
For Olivier Vanderijst, CEO of Wallonie Entreprendre (WE), "the visionary and strategic nature of Odoo's management and the rigor with which it has implemented this vision have led to an incredible valuation of 5 billion euros, which has attracted the best investors in the world. This is why WE has signed this transaction, while remaining a shareholder in the company to support its future growth as a local player".
J.P. Morgan SE acted as exclusive placement agent on this transaction.
LOUVAIN-LA-NEUVE, Belgium, Nov. 20, 2024 /PRNewswire/ -- Odoo S.A., a leading provider of integrated business software, today announced a €500 million transaction led by CapitalG and Sequoia Capital, with participation from BlackRock, Mubadala Investment Company, HarbourVest Partners, AVP, and Alkeon. This secondary capital transaction reflects strong confidence in the company's vision and impact. As part of the transaction, existing investors Summit Partners, Noshaq, and Wallonie Entreprendre are selling a portion of their shares; Summit will remain Odoo's largest institutional shareholder.
This major transaction underscores Odoo's leadership position in the SMB software ecosystem and strong, profitable financial profile. It also highlights the company's continued momentum in reshaping the business software landscape with innovative, accessible solutions for companies worldwide.
Since its founding in April 2002, Odoo S.A. has been dedicated to developing and continuously enhancing a comprehensive suite of management software applications for small and mid-sized businesses. Today, with over 13 million users and currently adding more than 7,000 new clients each month, Odoo has built a strong presence in the industry. Known for its intuitive and user-friendly design, Odoo empowers companies to focus on what matters most: improving customer satisfaction, driving innovation, optimizing business processes, and scaling operations efficiently.
Odoo S.A. has achieved sustained annual growth of 40% and is projected to exceed €650 million in billings within the next 12 months, with a target of reaching €1 billion in billings by 2027. The company has strengthened its global presence by establishing 15 subsidiaries and building a network of 7,500 partners worldwide. With this latest investment, Odoo S.A.'s valuation has reached €5 billion.
"Fabien and his team have built a one-of-a-kind business from their ambitious vision for a unified suite of tightly integrated business apps," said Alex Nichols, partner at CapitalG, the independent growth firm of Alphabet Inc., Google's parent company. "Odoo's powerful and easy-to-use suite of apps has won over customers across more than 100 countries and virtually every industry, as well as companies with anywhere from one to thousands of employees. The team's two decades of dedication and long-term thinking has fostered a robust community of partners, contributors, and users that will serve as their foundation for years to come. We are thrilled to partner with Fabien and the rest of Odoo's leadership team."
"Odoo has built an outstanding software company with a unique culture, product suite, and ecosystem," said Andrew Reed, partner, Sequoia Capital. "Odoo is a tremendous business already, and it feels like their best days are still ahead. Odoo has the long-term potential to transform the SMB software market and deliver enormous value to customers. We're excited to partner with Fabien and the Odoo team for the long-term."
The recent launch of Odoo 18, the most advanced iteration of the company's software, on October 2nd, strengthens the company's market position and enhances overall performance and customer experience.
"ERPs are traditionally expensive and resource-intensive to implement, often failing to meet the actual needs and evolving requirements of SMEs. We have developed a unique value proposition that is playing a pivotal role in the market" explains Fabien Pinckaers, founder and CEO of Odoo S.A.
This €500 million investment exemplifies the international recognition and trust that Odoo has garnered within the investment community. Following investments led by Summit Partners in 2019, 2021 and 2022, this latest round further highlights Odoo's appeal to investors.
Faris Al Mazrui, Head of Growth at Mubadala, said "Odoo stands out as a prime example of innovation in global software, offering scalable, adaptable solutions that empower businesses in the digital and cloud transformation journey. With Mubadala's expertise in software investments and the UAE's role as a fast-growing tech hub, we see Odoo as an exceptional partner for companies adapting to cloud and AI megatrends. We're excited to support their growth worldwide".
"Odoo continues to deliver solutions that we believe are helping to transform the business software landscape – and they are doing so with impressive traction," added Antony Clavel, a Managing Director at Summit Partners who has served on the Odoo Board of Directors since Summit's initial investment in 2019. "We are delighted to welcome new investors and look forward to working together to support Odoo's exciting growth trajectory." Following this transaction, Summit remains Odoo's largest institutional shareholder.
Odoo does not stop here. For 2025, the unicorn is already expecting many more opportunities and expansion projects, enhancing Odoo's capabilities for research and development, and allowing accelerated innovation in its product offerings.
"We are expecting to open five new subsidiaries within the next three years across Europe, Latin America and Asia-Pacific," said Sebastien Bruyr, Odoo S.A. Chief Commercial Officer. Odoo's Chief Finance Officer, Alessandro Mazzocchetti, added, "I'm confident that Odoo will remain profitable in terms of EBITDA and Cash Flow as we expand our team and global reach. We will keep working hard to serve our customers and partners!".
For Olivier Vanderijst, CEO of Wallonie Entreprendre (WE), "the visionary and strategic nature of Odoo's management and the rigor with which it has implemented this vision have led to an incredible valuation of 5 billion euros, which has attracted the best investors in the world. This is why WE has signed this transaction, while remaining a shareholder in the company to support its future growth as a local player".
J.P. Morgan SE acted as exclusive placement agent on this transaction.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Odoo S.A. announces a €500 million transaction, increasing the Belgian Unicorn's valuation to €5 billion
GUANGZHOU, China, Jan. 11, 2026 /PRNewswire/ -- Recently, GAC's independently developed Quark E-Drive power domain control system has achieved the world's first dual certification for deeply integrated ASIL D functional safety and information security, accredited by DAkkS, Germany's national accreditation body. The certification was evaluated and issued by SGS-CSTC Standards Technical Services Co., Ltd. (SGS), a globally recognized certification authority.
ISO 26262 is the internationally recognized core standard for automotive functional safety. Within this framework, ASIL D represents the highest automotive safety integrity level, requiring near-zero tolerance for safety-critical failures. Achieving an ASIL D certification accredited by DAkkS signifies that the certified product meets the highest globally accepted standards for automotive safety.
The certified Quark E-Drive power domain control system has been in production use since February 2025, and is now deployed across multiple models under GAC's brands - HYPTEC and AION. As the industry's first electric drive power domain system based on deep integration using a single main control chip, the solution significantly reduces chip count, minimizes risks associated with chip-level failures, and boosts motor controller efficiency to as high as 99.9%. The certification confirms that GAC has completed the system's full product development lifecycle in strict compliance with ISO 26262:2018 functional safety and ISO/SAE 21434:2021 information security standards.
Throughout the project, GAC Technology Research Center worked closely with SGS experts, strengthening safety design across all development phases while ensuring engineering feasibility and an optimal user experience.
Zhao Hui, Vice President of SGS China, commented: "The successful certification highlights GAC's strong team and robust development systems. We are pleased to support the safety of the Quark E-Drive and look forward to closer collaboration."
This milestone represents a major breakthrough for GAC in e-drive safety and sets a new global benchmark for the intelligent electric vehicle industry.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
GAC's Quark Electric Drive Achieves the World's First DAkkS ASIL D Functional Safety and Information Security Dual Certification
