Odoo
Open source business suite from Belgium covering accounting, invoicing, inventory, CRM, HR and e-commerce in one system, with a free community edition and a paid cloud version, valued at EUR 5bn in a 2024 secondary sale.
| Founded | April 2002, Louvain-la-Neuve, Belgium, as TinyERP; headquartered in Grand-Rosière, Belgium |
|---|---|
| Founders | Fabien Pinckaers (CEO) |
| Ownership | Private; investors include Summit Partners, Sequoia Capital Heritage, CapitalG and BlackRock; EUR 500m secondary in November 2024, led by CapitalG and Sequoia Capital, at a EUR 5bn valuation |
| Revenue | About EUR 900m in billing revenue expected in 2026, up 45%; targeting EUR 1bn in 2027; nearly 8,000 staff |
| Customers | 28 million users; tens of thousands of paying companies served by 7,500 partners (November 2024) |
| What it does | Modular apps for accounting, invoicing, bank sync, expenses, inventory, manufacturing, sales, CRM, website and HR, sold as one subscription covering all apps |
| Recent moves | Annual Odoo Experience releases adding AI features across the suite; continued push into the US and hiring at scale in Belgium, India and Mexico |
| Pricing | Free for one app; Standard EUR 24.90 and Custom EUR 44.90 per user per month billed yearly (EUR 31.10 and EUR 56.90 monthly), with all apps included |
| Markets | Global; strongest in Europe, growing in the US and Latin America |
| Peers | Microsoft Dynamics 365 Business Central, NetSuite, Sage, Xero, Exact |
Why it matters
Odoo has grown to about EUR 900 million in expected 2026 revenue and a EUR 5 billion valuation on an open source model, with all-apps pricing that undercuts the modular ERP vendors. For European SMEs it is often the alternative to both the SMB ledgers and NetSuite, and it is the largest software company in Belgium.
Part of Accountio’s accounting technology coverage.
Odoo alternatives: compare the other vendors in this category →
Odoo compared
In Accountio software guides
