Belgian technology company Odoo is set to receive a significant boost with a €150 million investment from US investment fund General Atlantic. The funding aims to support Odoo's global

expansion plans and fuel its continued growth in the tech industry.

The investment news was announced through a press release on Monday, although specific financial details of the transaction were not disclosed. However, according to business newspaper L'Echo, the American fund will acquire a 25% stake from Wallonie Entreprendre (WE), a government entity, and half of Liège investment company Noshaq's stake. This will amount to approximately 4% of Odoo's overall capital. Currently valued at around €3 billion, Odoo is a leading provider of open-source software for business management.

Headquartered in Grand Rosière, in the Walloon Brabant province of Belgium, Odoo operates globally and has experienced rapid growth. Its software is used by millions of users worldwide. The company has been expanding its reach, with new offices announced in various countries including Kenya, Australia, Brazil, Spain, Germany, and Italy.

In recognition of its achievements, Odoo was named the French-language company of the year in Belgium in 2022. Furthermore, its CEO, Fabien Pinckaers, has received accolades, including the Manager of the Year award.

This substantial investment from General Atlantic will undoubtedly propel Odoo's expansion efforts and reinforce its position as a prominent player in the technology sector. Photo by 401(K) 2012, Wikimedia commons.