OpenERP – now Odoo – raises $10 million

Odoo logo

The ERP vendor announces a fund-raising round worth $10 million.

In parallel to the name change linked to the diversification of the software sectors in which it develops solutions, Odoo (formerly OpenERP) has just announced the conclusion of fund-raising to the tune of $10 million, from investors XAnge (France), SRIW (Belgium), Sofinnova (France) and its own management team.

Odoo will use this additional capital to accelerate the pace of its growth and consolidate its research and development work. Odoo also plans to expand its teams, particularly those in Belgium dedicated to R&D. In the 18 months to come, Odoo also hopes to ramp up its business in the USA and the EMEA zone.

XAnge explains that it was won over by “the broad scope of the product” and by the speed of its internationalization.

Visit Odoo’s website (driven by the company’s new CMS).


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