Global growth equity investor Summit Partners led a $90 million minority investment in Odoo, the leading open source all-in-one business software. Odoo’s executive management team, existing investor SRIW and its affiliate Noshaq also participated in the round.
This investment from a tier one US private equity investor in a Belgium-based company highlights Clipperton’s expertise in cross-border transactions.
SaaS is a key focus for Clipperton and this transaction strengthens its expertise in the field.
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With more than 4.5 million users worldwide, Odoo is the most installed business software in the world. The company’s solutions are designed to support businesses of all sizes, with a flexible, fully-featured, and integrated suite of applications to run and manage all aspects of a business. Odoo’s functionality encompasses traditional ERP, including accounting, stock, manufacturing and CRM, as well as broader business needs such as project management, marketing, human resources, website, eCommerce, point-of-sale and more. With a modular approach, Odoo provides affordable, customizable and easy-to-use software that scales with business needs as a company grows.