Summit invests $215M into Odoo, an open-source business management software developer, at a $2.3B+ valuation

– Odoo, a Belgium-based provider of open-source-based business software that ranges from inventory management and ERP to human resources and CRM software, marketing tools and more, some 30,000 in all, raised $215m funding.
– The round was led by Summit Partners.
– It brings Odoo to a valuation of over €2 billion.
– With 7 million users on its platform, Odoo is a prime example of the strong payoffs to be had from economies of scale in the most successful open-source projects, but it’s also doing so with a twist.