Summit leads $90m round for Odoo

Summit is currently investing from its Growth Equity Fund X, which closed on $4.9bn in March 2019. 

Also participating in the round were Odoo's management team, existing investor SRIW Digtal and its affiliate Noshaq.

Summit principal Antony Clavel has joined Odoo's board.

Previous funding
In 2010, Sofinnova Partners invested in a €3m funding round for the company. The firm led a $10m round in 2014, which saw XAnge and SRIW also invest.

Company
Odoo's software offers enterprise resource planning, facilitating the management of accounts, stock control, manufacturing, customer relationships, projects, marketing, human resources, websites and e-commerce. Founded in 2005, the company employs 750 people and operates offices in San Francisco, India, Hong Kong and Dubai. It is based in Grand-Rosière, Belgium. 

People
Summit Partners – Antony Clavel (principal); Han Sikkens (managing director).
SRIW Digital – Damien Lourtie (general manager).
Odoo – Fabien Pinckaers (founder, CEO).

Advisers
Company – Lazard (corporate finance).

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• Topics
• Expansion
• Benelux
• Technology
• Summit Partners
• Belgium
• Venture