Alphabet’s VC arm backs little-known SAP rival Odoo, boosting valuation to $5.3 billion

Posted under: Tech Move
Date: 2024-11-22
Alphabet’s VC arm backs little-known SAP rival Odoo, boosting valuation to $5.3 billion

Odoo, a Belgian startup taking on SAP in enterprise software, has raised its valuation to €5 billion following a secondary share sale led by Alphabet’s venture fund, CapitalG, and Sequoia Capital. With more than 5 million users globally, the company specializes in open-source, all-in-one solutions tailored for SMEs. Offering over 80 applications, Odoo’s platform supports a wide range of business operations, including accounting, customer relationship management, HR, e-commerce, and beyond.