Odoo has closed a $90 million minority investment led by global growth equity investor Summit Partners, with participation from Odoo’s executive management team and existing investor SRIW and its affiliate Noshaq.
The Belgian open source all-in-one business software firm has grown its team to 750-strong, including the addition of more than 300 team members in 2019.
It operates international offices in San Francisco, India, Hong Kong and Dubai to support a global customer base.
“In our experience, traditional enterprise resource planning is expensive and frequently fails to adapt to the unique needs of dynamic businesses – with its flexible suite of applications and a relentless focus on product, we believe Odoo is ideally positioned to capture this large and compelling market opportunity,” said Antony Clavel, a principal with Summit Partners who has joined the board of directors.
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