Grand Rosière, Belgium
Overall Rank: 19
Category: Business Processes
Category Rank: 5
- Top Software Company of 2023
- Power 500 Software Company
Odoo, formerly known as OpenERP, is a global leader in open-source business management software. Founded in 2005 by Fabien Pinckaers, Odoo has established itself as a comprehensive platform that offers a wide range of integrated applications to streamline various business processes. With headquarters in Belgium and a presence in over 120 countries, Odoo serves organizations of all sizes, from small businesses to large enterprises. Odoo has raised over $400 Million from investors like Summit Partners and Sofinnova Partners.
Odoo’s software suite covers multiple functional areas, including sales, accounting, project management, inventory, HR, and more. By providing a modular and customizable solution, Odoo empowers businesses to tailor their software to their specific needs, optimizing efficiency and productivity. With over 30 main applications and thousands of community-developed modules, Odoo offers a flexible and scalable platform for businesses across industries.
With a commitment to open-source principles, Odoo enables users to access and modify the source code, fostering collaboration and innovation within its extensive community. This community-driven approach ensures continuous development and improvement of the software, while also providing users with a vast library of apps and modules to enhance their Odoo experience.
As a testament to its success, Odoo has garnered recognition and accolades within the industry. The company has received prestigious awards such as the Fastest Growing Technology Company in Belgium and the Deloitte Technology Fast 50. Odoo’s strong customer base includes businesses from diverse sectors, ranging from manufacturing and retail to services and eCommerce.
Odoo offers a comprehensive suite of integrated applications designed to streamline various business processes. With a modular and customizable approach, businesses can select and configure the Odoo applications that best suit their needs. Here are some of Odoo’s key products:
- Odoo ERP: At the core of Odoo’s offerings is its Enterprise Resource Planning (ERP) software. This powerful application provides businesses with a centralized platform to manage and automate key operational areas such as sales, inventory, manufacturing, purchasing, accounting, and human resources. The ERP module allows for efficient resource planning, optimized inventory management, streamlined procurement processes, and real-time financial reporting.
- Odoo CRM: Odoo’s Customer Relationship Management (CRM) application helps businesses effectively manage their sales pipeline and customer interactions. It provides features for lead tracking, opportunity management, sales forecasting, customer segmentation, and marketing campaign automation.
- Odoo eCommerce: The Odoo eCommerce application empowers businesses to create and manage their online stores. With intuitive website building tools, flexible product catalogs, and secure payment gateways, businesses can establish a robust online presence and offer a seamless shopping experience to their customers. The eCommerce module seamlessly integrates with other Odoo applications, providing a unified platform for managing inventory, orders, and customer data
- Odoo Accounting: Odoo’s Accounting application simplifies financial management for businesses. It offers features for managing invoices, payments, bank reconciliation, tax calculations, and financial reporting. With automated processes and customizable workflows, businesses can efficiently handle their accounting tasks, ensure compliance, and gain valuable insights into their financial performance.
- Odoo Project Management: The Project Management application helps businesses effectively plan, execute, and monitor their projects. It offers features for task management, resource allocation, project scheduling, collaboration, and progress tracking. With clear visibility into project timelines, milestones, and team performance, businesses can ensure timely project delivery and optimal resource utilization.
These are just a few examples of the extensive range of applications available in Odoo’s marketplace, covering areas such as inventory management, manufacturing, human resources, marketing, and more. With the flexibility to customize and integrate these applications, businesses can build a tailored solution that addresses their specific operational needs.
Odoo’s products are designed to be easy to use and scalable, so they can be used by businesses of all sizes. Odoo is also a cost-effective solution, as it is available on a subscription basis.
Odoo has received positive reviews from users on various platforms, including G2, Capterra, and Software Advice. On G2, Odoo has an average rating of 4.2 out of 5 stars based on over 200 reviews. On Capterra, Odoo has a rating of 4.1 out of 5 stars based on over 500 reviews. And on Software Advice, Odoo has a rating of 4.13 out of 5 stars based on over 600 reviews.
Customers appreciate Odoo’s robust features, ease of use, and comprehensive business management capabilities. Users highlight the platform’s ability to streamline business workflows, improve communication and collaboration, and enhance overall business efficiency. The customer reviews on these platforms emphasize Odoo’s role in centralizing business information, facilitating document management, and providing real-time insights into business progress.
Many users also appreciate the flexibility of the platform, which allows them to customize and configure the software to their specific business needs. However, some users have expressed concerns with the steep learning curve of the software and the lack of documentation available.
Overall, the customer reviews indicate that Odoo is well-regarded by businesses of all sizes, who appreciate its comprehensive set of features, ease of use, and ability to streamline business management processes. The platform’s emphasis on collaboration, document control, and real-time insights resonates with customers and contributes to their positive experiences.
- Number of employees: 1,700+
- Number of Countries with offices: 8
- Number of users: 7 Million+
- Total funding raised: $439.2 Million
- Number of Investors: 5
- Revenue (2022): €244 million
Rating and Commentary
Odoo has solidified its position as a leading provider of business management software, garnering widespread recognition and trust across industries. With a strong presence in over 180 countries and a user base exceeding 7 million, Odoo’s software solutions are widely adopted, demonstrating its global reach and impact. In the past fiscal year, Odoo reported impressive growth, achieving a revenue of $240 million, representing a significant year-over-year increase. This success has been fueled by strategic partnerships and investments, allowing Odoo to continuously expand its product offerings and market presence.
At the helm of Odoo is a seasoned leadership team led by CEO Fabien Pinckaers, who brings extensive industry expertise and a visionary mindset. Under their guidance, Odoo has experienced remarkable growth, employing a diverse team of over 1,700 professionals dedicated to delivering innovative business management solutions.
Despite competition from industry players like SAP and Salesforce, Odoo remains resilient and successful, constantly evolving to meet the changing needs of businesses worldwide. With its commitment to open-source technology and a modular approach, Odoo empowers businesses to streamline operations, improve efficiency, and drive growth. As the business landscape continues to evolve, Odoo is well-positioned to lead the way in business management software and shape the future of enterprise resource planning.
The key executives at Odoo bring a wealth of qualifications and experiences to their roles, contributing to the company’s success and growth. Let’s take a closer look at their backgrounds:
Fabien Pinckaers, CEO and Founder
Fabien Pinckaers, an accomplished entrepreneur and technologist, founded Odoo (formerly OpenERP) in 2005. With a degree in Computer Science from the Université Catholique de Louvain, Pinckaers has a deep understanding of software development and business management. Pinckaers’ innovative thinking and strategic direction have fueled the company’s expansion and positioned Odoo as a leading provider of integrated business applications.
Antony Lesuisse, CTO and Co-Founder
Antony Lesuisse, as the Chief Technology Officer and Co-Founder, plays a pivotal role in driving the technical aspects of Odoo’s platform. With a strong background in software engineering, Lesuisse has been instrumental in developing and enhancing Odoo’s technology stack. His expertise lies in creating scalable, secure, and user-friendly solutions. Lesuisse’s commitment to delivering a high-quality product has been vital in establishing Odoo’s reputation as a reliable and innovative software provider.
Alessandro Mazzocchetti, CFO
Alessandro Mazzocchetti serves as the Chief Financial Officer at Odoo, leveraging his extensive experience in finance and accounting. With an educational background in Economics and Finance, Mazzocchetti brings a strategic approach to financial management. He plays a key role in ensuring Odoo’s financial stability, overseeing financial operations, and driving strategic financial planning. Mazzocchetti’s expertise contributes to the company’s growth and supports its commitment to delivering value to customers and stakeholders.
These key executives, with their diverse qualifications and experiences, collectively drive Odoo’s success. Their leadership, combined with the expertise of the entire team, fuels innovation, fosters customer-centric solutions, and positions Odoo as a trusted provider of integrated business applications.
Odoo’s organizational culture is deeply rooted in the values of Learn & Evolve, which guide the company’s approach to creating a thriving and dynamic work environment. Embracing openness, ownership, and optimism, Odoo fosters a culture of collaboration and continuous learning.
Transparency and open communication are at the core of Odoo’s culture. The company encourages employees to freely share ideas, ask questions, and provide feedback, creating an environment where diverse perspectives are valued and innovation thrives. Odoo also extends this transparency to its customers and partners, fostering trust and long-term relationships.
Odoo empowers its employees to take ownership of their work and make meaningful contributions. With a flat hierarchy, decision-making is decentralized, enabling employees to have a direct impact on the company’s direction and success. Employees are given the autonomy to make decisions, take calculated risks, and drive positive change. Odoo provides the necessary resources and support for employees to succeed, nurturing a culture of accountability and personal growth.
This vibrant organizational culture has garnered praise from both employees and customers. Odoo has been recognized as a great place to work, with employees appreciating the work-life balance, the sense of purpose, and the opportunities for personal and professional development. With a range of employee benefits and a positive rating from multiple renowned organizations, Odoo’s culture exemplifies its commitment to fostering an engaging and fulfilling work environment.
The Odoo Board of Directors is composed of experienced executives and industry leaders who provide strategic guidance and oversight to the company. The board is responsible for setting the company’s vision, mission, and values, as well as overseeing its financial performance and risk management.
Roald Sieberath, Independent Director
Roald has been an entrepreneur most of the past 25 years. He has raised an aggregate $18M of venture funding. For the past three years, Roald has been a Venture Partner for LeanSquare, a tech seed fund based in Liège, Belgium. n the past 10 years, Roald spent considerable time coaching startups as part of several accelerators and incubators, including: Microsoft Innovation Center (Belgium), Nest’Up, StarTech, VentureLab, BeCentral, French Tech Culture, YunusSB (Tunisia), and MG Seed (Brazil).
Antony C. Clavel, Independent Director
Antony C. Clavel is an experienced executive. He joined Summit Partners in 2013. He is a Swiss national and speaks English and Italian. Prior to Summit, he worked for Allen & Company. Based in Summit’s London office, Antony is active in the firm’s investment activities in Europe. Antony holds a BA in mathematics from Oxford University with First Class Honors and an SM in computer science from Harvard University.
Olivier Sichel, Independent Director
Olivier Sichel is a Venture Partner. He has been a Partner with Sofinnova in the technology sector from 2006 to 2012.In July 2012, Olivier joined LeGuide.com, a leading European shopping guide on the internet, as Chairman & CEO. Olivier graduated from Essec, a French business school, ENA (the Ecole Nationale d’Administration), and is Inspecteur des Finances.
These board members bring a combination of industry knowledge, leadership, and vision to guide Odoo’s growth and success.
Odoo has raised over $439 million in funding from a range of prominent venture capital firms, private equity investors, and financial institutions. These investments have played a vital role in supporting the company’s growth and expansion. Here are some of the notable investors in Odoo:
Summit Partners is a leading global private equity firm that has invested in Odoo since 2019. Summit Partners has a long history of investing in high-growth technology companies, and they recently invested €112M at a valuation of $3.2 Billion in Odoo in 2022.
S.R.I.W. is a Belgian investment company that has invested in Odoo since 2014. S.R.I.W. is a long-term investor with a strong track record of success, and their investment in Odoo is a sign of their confidence in the company’s future.
Sofinnova Partners is a global venture capital firm that invested in Odoo in 2010 in its Series A raise of €3M. Sofinnova Partners has a long history of investing in technology companies, and their investment in Odoo is a sign of their confidence in the company’s potential.
- Global Expansion: Odoo opened multiple offices in the past few years, with Milan and Dubai in 2023. It expanded its physical presence to 8 countries including USA, India, and China.
- CoreChain Partners with Odoo to Embed B2B Payments and Financing for Small and Midsize Businesses (2022)
- Software firm Odoo has chosen Nairobi as its African headquarters (2022)
- Awards: Odoo has received multiple awards in the past years. This includes the 2020 Deal of the Year by Trends-Tendances, L’Entreprise Prometteuse by Ernst & Young, Bossie Award for the Best Open Source Solution.
News and Press Releases
- Q1, 2023 Results: Odoo achieved €190 million in ARR and €263 million in TTM Revenues, it’s highest ever while showing a 48% ARR Growth rate and 109% Client growth rate (Read)
- March 13, 2023: Odoo Expands Presence in the Middle East with New Dubai South Office (Read)
- June 8, 2022: Belgian open source business software scale-up Odoo hits €3.2 billion valuation (Read)
Odoo is a strong competitor in the ERP market. It offers a wide range of features, is flexible and scalable, and is affordable. However, it is important to note that Odoo is complex to implement and lacks support for some industries. Odoo also faces competition from established players in the market. Some of them are:
Zoho is a provider of cloud-based business software solutions. Its ERP software, Zoho One, is a comprehensive solution that offers a wide range of features and integrations. Zoho is a good choice for organizations that are looking for a cloud-based ERP solution that is affordable and easy to use. Zoho crossed $1 Billion in annual revenue in 2022.
Salesforce is a provider of cloud-based customer relationship management (CRM) software solutions. Its ERP software, Salesforce ERP, is a comprehensive solution that offers a wide range of features and integrations. Salesforce is a good choice for organizations that are looking for a cloud-based CRM solution that integrates with their ERP system.
NetSuite is a cloud-based ERP software solution that offers a wide range of features and integrations. NetSuite is a good choice for organizations that are looking for a cloud-based ERP solution that is scalable and affordable. It runs the business of more than 34,000 customers, organizations, and subsidiaries in 217 countries.
SAP ERP is a leading provider of enterprise software solutions and is recognized as one of Odoo’s primary competitors. SAP offers a comprehensive suite of ERP applications designed to address the needs of large organizations across various industries. With its extensive features and global presence, SAP ERP poses significant competition to Odoo.
Corporate Responsibility is an important aspect of Odoo’s business strategy. The company recognizes its role in driving sustainability and making a positive impact on society. Here are some key initiatives and activities undertaken by Odoo in terms of corporate responsibility:
Driving Sustainability: Odoo understands the significance of sustainability and the role that ERP systems can play in promoting sustainable practices. By leveraging its software solutions, Odoo empowers businesses to optimize their operations, reduce waste, and minimize their environmental footprint. Through its ERP platform, Odoo enables companies to track and manage their resources efficiently, promote green initiatives, and contribute to a more sustainable future.
Supporting Associations Fighting COVID-19: Odoo has demonstrated its commitment to corporate responsibility during challenging times. The company has actively supported associations in their fight against the COVID-19 pandemic. Odoo showcases its efforts in helping associations combat the virus by providing them with free software licenses and support. By offering its resources and expertise, Odoo has played a role in assisting organizations on the front lines of the pandemic response.
These initiatives reflect Odoo’s dedication to corporate responsibility and its commitment to making a positive difference in the world. By leveraging its ERP software and collaborating with associations, Odoo actively contributes to sustainability and social causes.