Odoo, an open source all-in-one business software company, has closed a $90 million minority investment led by global growth equity investor Summit Partners.
Odoo said its executive management team and existing investor SRIW and its affiliate Noshaq also participated in the share sale.
New investor Summit Partners joins management and current shareholders, including SRIW, Sofinnova and XAnge to support Odoo’s product development pace and continued global expansion.
Since 2015, Belgium-based Odoo has operated with an open core business model that combines its open-source product, Odoo Community, with a suite of proprietary core apps through Odoo Enterprise. Odoo currently operates international offices in San Francisco, India, Hong Kong and Dubai.