Odoo, the open-source ERP software company, has announced a investment of 500 million euros from leading investors such as CapitalG, Sequoia Capital, BlackRock, Mubadala Investment Company, HarbourVest Partners, AVP, and Alkeon.
This new round of investment has boosted Odoo’s business valuation to 5 billion euros. Odoo has been a unicorn since 2021.
With over 13 million users and an average of 7,000 new customers added monthly, Odoo is experiencing a 40% annual growth rate. In the next 12 months, it is projected to generate 650 million euros in revenue, aiming towards hitting the 1 billion euro mark by 2027.
Source: Odoo
TLDR: Odoo secures 500 million euro investment, reaches 5 billion euro valuation, and anticipates significant revenue growth in the coming years.
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