Odoo tops €7 billion valuation as General Atlantic increases stake

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. After the deal, Wallonie Entreprendre still holds about 3 % of the company. 

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 ...