Grand Rosière, Belgium
Odoo is a Belgian open-source business software company that offers a suite of integrated applications spanning CRM, accounting, website building, inventory, manufacturing, and email marketing. Founded in 2005 by Fabien Pinckaers, the company rebranded from its original name to Odoo in 2014 and pivoted from a services-led model to a subscription vendor model around 2010, a transition that required its only institutional fundraise of $12 million total. As of December 2018, Odoo reported $2.6 million in monthly recurring revenue, implying an annual recurring revenue run rate of approximately $31.2 million, with full-year billings projected at roughly $44 million when non-recurring professional services revenue is included. The company served 11,000 paying customers and an additional 4 million free users drawn in by its open-source distribution. Odoo grew 64 percent over the prior twelve months and generated $500,000 in positive cash flow every month. By 2024, Odoo had reached a valuation of approximately 5 billion euros (roughly $5.26 billion) following a 500 million euro secondary transaction led by CapitalG and Sequoia. A subsequent secondary round in 2026 valued the company at over 7 billion euros. Revenue reached approximately 650 million euros in 2025, with the team growing to roughly 7,000 employees globally.
- Revenue
- $552M
- Customers
- 11K
- Year founded
- 2005
- Funding
- $1B
- Team size
- 7.6K
- Growth
- 42%
