Odoo
Odoo is a Belgian open-source business software suite covering ERP, CRM, e-commerce, accounting, and more, headquartered in Ramillies (Walloon Brabant) and valued at approximately $5.3B following a November 2024 secondary led by CapitalG and Sequoia Capital, with over 5000 employees.
Founded in 2005 by Fabien Pinckaers and headquartered in Grand-Rosiere, Belgium (with offices near Leuven), Odoo began as TinyERP before rebranding. It has grown into one of the most widely deployed open-source business application suites in the world, competing directly with SAP and Microsoft Dynamics at the SME and mid-market level.
The platform covers over 30 core business applications including accounting, inventory, manufacturing, HR, and marketing automation. Its open-source model combined with a hosted SaaS offering has Driven adoption across more than 100 countries.
Odoo's $3.2B valuation reflects its position as a rare European open-source success at enterprise scale. The company reached profitability without relying heavily on external capital, making it a distinctive example in the Belgian tech ecosystem.
Stated facts & numbers
- Odoo is valued between €7 and €10 billion, likely Belgium's first decacorn (1:35:21, Ben's Mentors 2025-10-29)
- Odoo does more than 500 million in ARR and is valued at more than 5 billion. (0:01:03, De CFO Podcast 2025-05-12)
- When Alessandro joined Odoo (then Open ERP) 10 years ago, ARR was roughly 3.5-4 million with ~100 people: 70 at the farms in Belgium, 20 in the US and 10 in Hong Kong. (0:09:50, De CFO Podcast 2025-05-12)
- Odoo today has 6,000 people and 20 offices. (0:10:22, De CFO Podcast 2025-05-12)
- After switching from a service company to a SaaS model, Odoo ran at 65-70% annual growth rate. (0:09:20, De CFO Podcast 2025-05-12)
- At the time he joined, Odoo had just fundraised 6 million and the money was finished; the company was burning cash. (0:13:29, De CFO Podcast 2025-05-12)
- Odoo has completed six liquidity events; the last one at a 5 billion valuation took him 6 months. (0:21:59, De CFO Podcast 2025-05-12)
- Odoo has 45 million of fixed costs and 20 different subsidiaries whose cash he manages. (0:31:46, De CFO Podcast 2025-05-12)
Who works here6
In the media3
Fabien Pinckaers, CEO @Odoo: The Billionaire Founder Who Doesn’t Care About Money | E1259Fabien Pinckaers discusses how he started his first business at 13 building management software for friends, then pursued various ventures including e-commerce, a Linux t-shirt company, and an art marketplace that sold 15,000 items per month before eventually launching Odoo.
- Fabien Pinckaers CEO d'Odoo parle de son entreprise et de sa fortune
Fabien Pinckaers discusses Odoo as a suite of applications with over 40,000 apps that help businesses manage their activities including accounting, inventory, retail, and restaurants. He clarifies that while Odoo is valued at over 5 billion dollars, he personally does not have significant liquid wealth as he manages a valuable company rather than holding cash.
- Odoo, a Belgian unicorn crushing it with Fabien Pinckaers (Odoo)
Fabien Pinckaers discusses Odoo's strong company culture centered on three core employee values: autonomy, responsibility, and professional development. He explains that unlike most companies that claim to offer autonomy while implementing restrictive budgets and approval processes, Odoo genuinely provides these freedoms with no budget constraints or control mechanisms.