SAN FRANCISCO, May 16, 2014 /PRNewswire/ —
OpenERP has raised $10 million dollars in funding to support its R&D efforts and commercial growth. As part of the growth strategy OpenERP is rebranding to Odoo, to better reflect its expanded areas of focus in CMS & Ecommerce and POS applications beyond the core ERP function. Odoo has improved its pricing and included a free version for up to two users for very small businesses to enjoy a completely integrated suite of business solutions.
After years of rapid growth OpenERP, the leading integrated open source business software, is happy to announce it has secured a new round of USD 10 Millions of financing, jointly provided by leading venture capital firms XAnge (France), SRIW (Belgium), Sofinnova Partners (France), and the management team. The new financing will support the acceleration of outstanding growth the company has seen, doubling its sales during the period 2011-13, and growing R&D staff to over 100 people.