With a recent valuation of five billion euros, the company led by Fabien Pinckaers is outperforming its competitors and setting a new standard in the Belgian unicorn ecosystem. Let’s take a look back at this rise to power and analyze the key factors behind this success.
Growth supported by major investments
In November 2024, Odoo raised approximately 500 million euros from prestigious funds such as CapitalG, Sequoia Capital and BlackRock. Thanks to this substantial financing, the company’s valuation increased from 3.75 billion euros to an impressive five billion euros. This masterstroke positions Odoo as the most valuable tech company in Belgium, eclipsing Team.blue, another major player in the sector with its web hosting provider Combell.
Behind this gathering of investors is a clear confidence in Odoo's promising future and its ability to continue its rapid expansion. The new financial operation initiates a significant phase for the firm, which has transformed itself from a simple SME into an essential pillar of open-source technology.
The key figures behind the rise
Since its creation in 2002 by Fabien Pinckaers, Odoo has conquered the market thanks to a diversified offer of professional applications mainly intended for small and medium-sized enterprises (SMEs). Currently, the company claims more than 13 million users and attracts 7,000 new customers every month. This dynamic generates an annual growth of 40%, perfectly illustrating the effectiveness of their commercial strategies and their relevance within the market.
Odoo aims even higher with a stated objective: to achieve a turnover of 1 billion euros by 2027. To achieve this, the company is counting on a forecast revenue of 500 million euros in the next twelve months, an essential milestone towards their ultimate goal.
The impact of local investors
In addition to international investments, Odoo also benefits from significant local support. Wallonie Entreprendre (WE), previously known as SRIW (Société Régionale d’Investissement de Wallonie), had initially injected 10 million euros into Odoo. This financial commitment proved extremely successful, as WE was able to recover more than €70 million by selling 2.2% of its shares.
Despite this partial sale, WE still holds approximately 4% of the company’s shares, fully capitalizing on the Walloon start-up’s continued appreciation. For his part, Fabien Pinckaers remains the majority shareholder, ensuring stability and a coherent vision for Odoo’s future.
Continued international expansion
Building on its success, Odoo does not intend to rest on its laurels. The company plans to accelerate its global expansion by opening five new subsidiaries over the next few years. These strategic expansions will focus in particular on markets in Asia-Pacific, Latin America and Europe. This move reflects Odoo’s ambition to strengthen its global presence and capture new international market shares.
The expansion strategy is based on the idea of adapting their proven software solutions model to regional specificities, while maintaining a common base of innovation and quality of service. By developing local offices and training specialized teams, Odoo hopes to create a positive synergy between its parent company in Wallonia and its various global units.
Fabien Pinckaers: visionary leadership
At the head of Odoo since its founding, Fabien Pinckaers embodies the dynamism and strategic vision that have propelled the company to new heights. His approach focused on free software allows SMEs to access powerful tools without the budgetary constraints often associated with proprietary solutions. This philosophy of accessibility and continuous innovation has allowed Odoo to attract a growing number of loyal customers and solid partners.
Under Pinckaers’ leadership, the company has not only prospered economically but has also strengthened its culture of innovation, fostering the emergence of new solutions adapted to the diverse needs of their users. His leadership remains a valuable asset in navigating future challenges and continuing Odoo’s positive evolution.
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