Based out of Grand-rosière, Belgium, Odoo is an open-source suite of integrated business applications actively programmed, supported, and organized by Odoo SA. In the latest development, the company has secured $90 million (approx €80 million) investment led by global growth equity investor Summit Partners. Odoo was advised by the financial advisory firm Lazard.
Other participants include Odoo’s executive management team and existing investor SRIW and its affiliate Noshaq. Notably, the Summit Partners joins management and current shareholders, including SRIW, Sofinnova, and XAnge, in supporting Odoo’s rapid product development pace and continued global expansion.