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

Odoo, a startup challenging SAP in enterprise software, raised its valuation to 5 billion euros in a secondary share round led by Alphabet’s venture fund and Sequoia Capital. The Belgium-based company offers open-source enterprise resource planning software with over 80 applications for accounting, CRM, HR, e-commerce, and website building. CEO Fabien Pinckaers stated Odoo’s cash profitability and 50% revenue growth, emphasizing the need for simple and affordable solutions in the complex ERP market.

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