General Atlantic has announced a follow-on investment in Odoo SA, a leading provider of open-source business software for SMEs, valuing the company at €7 billion.

Target Information

Odoo SA, founded in 2002 by CEO Fabien Pinckaers, is a prominent provider of open-source integrated business software tailored for small and medium-sized enterprises (SMEs). The company's innovative "open core" approach has invited contributions from community developers, resulting in a vast library of nearly 40,000 software applications that serve various business functions such as Finance, Sales, HR, and Marketing. This extensive suite makes Odoo one of the largest business application stores globally, offering SMEs an opportunity to streamline their operations by consolidating multiple software vendors into a single affordable solution.

Recently valued at €7 billion, Odoo has experienced substantial growth, now operating profitably in 180 countries and serving over 170,000 paying customers. The latest version, Odoo 19, has enhanced the platform's appeal by integrating AI capabilities and broadening its suite of applications, which bolsters its attractiveness to SMEs looking for comprehensive and scalable operational management tools.

Industry Overview

In recent years, the business software market for SMEs in Belgium has undergone significant evolution, driven by the increasing demand for integrated solutions that enhance operational efficiency and productivity. This shift is largely fueled by the g