"Belgian business software company Odoo, also a unicorn, has reached a fresh milestone. Growth investor General Atlantic has increased its stake in the firm, buying additional shares from regional backer Wallonie Entreprendre and pushing Odoo's valuation to roughly €7 billion. This move isn't a typical funding round where a company raises new capital. Instead, it's a secondary transaction: General Atlantic bought existing shares that were previously held by Wallonie Entreprendre, the investment arm of Belgium's Walloon region."
"Odoo was founded in 2002 in Belgium and has grown steadily from a small project into a global software platform. It offers an integrated suite of business applications used by small and medium-sized enterprises for everything from finance and sales to HR and marketing. The software is built on an open-core model that encourages developers around the world to build add-on apps, creating a vast ecosystem of nearly 40,000 extensions."
General Atlantic increased its stake in Odoo by purchasing existing shares from Wallonie Entreprendre, valuing the company at about €7 billion. Wallonie Entreprendre continues to hold roughly 3% after the transaction. Odoo, founded in Belgium in 2002, has evolved into a global software platform offering an integrated suite of business applications for small and medium-sized enterprises across finance, sales, HR and marketing. The platform follows an open-core model with nearly 40,000 add-on extensions and serves over 170,000 paying customers in around 180 countries. Recent releases add AI-infused features and automation tools, and General Atlantic has supported Odoo's market expansion since 2023.
Read at TNW | Investors-Funding
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