Belgium-based all-in-one business software maker Odoo recently bagged $90M in funding from a new investor Summit Partners. Odoo offers an open-source version along with subscription-based enterprise software and SaaS. With Brainvire turning into a Gold Partner, this news will fuel rapid digital transformation across the globe.
According to sources, the funds were raised through a secondary share sale. Odoo's executive management team, existing investors, and affiliates also participated in the share sale by buying stock. Odoo is largely profitable and growing at 60% per year with an 83% gross margin product. This additional funding will help in the recruitment of new developers and also extend the partner network.
"Our partnership with Odoo dates back to when the ERP service provider had just ventured into the market. Over the years, we feel privileged to have contributed immensely to their growing community," said Mr. Chintan Shah, the CEO of Brainvire. He further adds, "We have in-house consultants who know all the ins and outs of Odoo and come up with a tailored ERP platform to suit client's needs."
Technically, Odoo offers around 30 applications via its Enterprise platform, including ERP, accounting, stock, manufacturing, CRM, project management, marketing, human resources, website, ecommerce development solutions and point-of-sale apps. It has a community of ~20,000 active members who have contributed to 16,000+ apps in the open-source version of its software.
Brainvire's technological know-how encompasses all Odoo apps and consists of the following services:
- GAP analysis and consultation
- Retail Omnichannel ERP solution
- Vertical wise Solution
- In-built integration with Managed Analytics
- Customization of Core Odoo Modules
- Quality Assurance
- Integration & Data Migration
- Support & Maintenance
Additionally, Brainvire stood out from the crowd as a well-known exhibitor in Odoo Connect 2019. Its team delivered three exclusive talks on diverse topics and attracted undisputed attention.
The details of these talks are as follows:
- Odoo for Omnichannel Success – “ Mr. Chintan Shah, CEO and Founder, Brainvire.
- Odoo for modern retail companies – “ Mr. Kevin Klor, CTO, Tent & Table.
- Role of Machine Learning in ERP – “ Mr. Maharshi Pancholi and Mr. Chirag Jogi, both Senior Business Analysts at Brainvire.
Needless to say, traditional ERP is expensive and frequently fails to adapt to the unique needs of dynamic businesses. With its flexible suite of applications and a relentless focus on product, Odoo is ideally positioned to capture this large and compelling market opportunity and Brainvire is its perfect partner to accomplish this.
Developing solutions with innovation, usability, and efficiency, Brainvire is one of the top IT consulting firms. With over 19 years of experience and more than 550 employee strength, it strives to create a difference in the society through technology. Having delivered over 1500 projects to its clientele spread globally, it has endured a 95% customer retention rate. Brainvire offers exclusive consultancy services such as Business Intelligence, Digital Marketing, Cloud ERP, CRM for E-commerce, etc. for diverse industry verticals while keeping customer satisfaction as its top priority.
It has earned many accolades such as 'Top IT Services Firm 2020', 'Top Mobile App Developers 2020', and 'Top E-commerce Developers 2020' by Clutch.