Odoo Secondary 2024

TLDR

Odoo raised EUR 500M in a secondary round in November 2024, led by CapitalG and Sequoia, at a EUR 5B valuation.

Overview

The EUR 500M secondary transaction in November 2024 was one of the largest single fundraises in Belgian tech history. Led by CapitalG (Alphabet's independent growth fund) and Sequoia Capital, the round valued Odoo at EUR 5B, up from EUR 3.2B at its 2023 Series E.

Secondary transactions allow existing shareholders to sell shares while bringing new institutional capital into the company. The scale and investor quality of this round confirmed Odoo's status as Belgium's most valuable technology company.