Odoo Series D Secondary 2021

TLDR

Odoo raised $215M in a secondary transaction led by Summit Partners in July 2021 at a $2.3B valuation.

Overview

Summit Partners, a US growth equity firm, led the $215M secondary for Odoo in July 2021, valuing the company at $2.3B. The deal allowed existing shareholders to achieve liquidity while bringing in institutional growth capital.

The $2.3B valuation marked a significant milestone for Odoo as it transitioned from a bootstrapped open-source ERP to a venture-backed growth company. This was followed by the 2023 Series E at EUR 3.2B and the 2024 secondary at EUR 5B.