Odoo's valuation exceeds €7 billion as General Atlantic raises its investment.

      Belgian business software firm Odoo, which is also classified as a unicorn, has achieved a new milestone. Growth investor General Atlantic has augmented its stake in the company by acquiring additional shares from regional investor Wallonie Entreprendre, thereby elevating Odoo’s valuation to approximately €7 billion.

      This action is not a conventional funding round where new capital is generated; rather, it is a secondary transaction: General Atlantic purchased pre-existing shares previously owned by Wallonie Entreprendre, the investment branch of Belgium’s Walloon region. Following this transaction, Wallonie Entreprendre retains about 3% of the company.

      Founded in Belgium in 2002, Odoo has evolved steadily from a small initiative into a global software platform. It provides an integrated array of business applications that serve small and medium-sized enterprises across various functions such as finance, sales, HR, and marketing.

      The software operates on an open-core model that fosters global developer engagement in creating add-on applications, resulting in a vast ecosystem of nearly 40,000 extensions.

      Currently, Odoo boasts over 170,000 paying customers in approximately 180 countries. This broad international presence and consistent revenue growth were crucial in persuading General Atlantic to enhance its investment.

      Since its initial investment in 2023, the firm has assisted Odoo in expanding into new markets and refining its business strategy.

      What makes this update particularly significant is Odoo’s broadening product offerings. Its latest versions feature AI-driven tools and automation capabilities that make the suite highly appealing to businesses aiming to replace outdated, disjointed systems with a cohesive digital platform.

      For the European tech landscape, this development signals a change in how successful software companies evolve and attract investment. Instead of pursuing rapid exits or IPOs, some founders are opting for secondary share transactions that allow early investors to realize returns while maintaining strategic control.

      This approach can facilitate a longer period of private operation for companies, enabling them to concentrate on building value over time.

      While the specifics of what is transpiring in Belgium or what the locals are having for breakfast remain uncertain, the nation has steadily emerged as a hub where software companies can achieve international growth.

      Odoo stands out as a remarkable success story, demonstrating that a strong product focus, community-led development, and global reach can garner significant support from prominent growth investors.