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Odoo, a Belgian enterprise software startup, has reached a valuation of €5.3 billion following a secondary share round led by Alphabet’s venture fund and Sequoia Capital. The company, which offers open-source enterprise resource planning software, is cash profitable and growing at 50% year-over-year, with plans to exceed €1 billion in billings by 2027. CEO Fabien Pinckaers emphasizes the need for simple, affordable solutions for small businesses in a fragmented market dominated by complex and expensive products like SAP.
Summit Partners
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Odoo secures 5.3 billion valuation with backing from Alphabet and Sequoia
Euro
Alphabet Inc.
Summit Partners
SAP SE
Sequoia Capital
Odoo
BEL
IND
Fabien Pinckaers
Andrew Reed
Alex Nichols
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14:02 20.11.2024
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