Belgium-based Odoo, a developer of open-source enterprise resource planning (ERP) software, has successfully raised €500 million in a secondary investment round, boosting its valuation to approximately $5.3 billion. The funding round was led by Alphabet's venture capital arm, CapitalG, alongside Sequoia Capital. This significant investment underscores Odoo's growth trajectory and its potential to challenge established players in the ERP market, such as SAP. The new valuation reflects Odoo's position as a leading provider of business management software for small and medium-sized businesses (SMBs), supported by a robust ecosystem of developers and applications. The investment marks a notable moment in the ERP sector, as Odoo continues to expand its influence in a market traditionally dominated by larger firms.