Belgium, OpenERP Raises €3M in Venture Capital

OpenERP, a Grand-Rosière, Belgium-based open source management solution, has received a €3m investment led by Sofinnova Partners.
Xavier Niel and Olivier Rosenfeld, respectively manager and board member of Iliad, also participated in the round.
The funds raised will be used to accelerate the company’s development strategy, which includes strengthening the managerial team, increasing distribution of the new SaaS OpenERP offering and enhancing its internationalization.
Additionally to its existing presence in India, the company will open a US office this year.
Founded in 2005 by Fabien Pinckaers, OpenERP has a strong community of more than 300 hundred members and integrators in 26 countries. The software already offers more than 500 modules and is downloaded by more than 1000 users each day
Commenting on the round, Pinckaers, CEO and founder of the company, was quoted as sayoing: “With more than 110 leads per day, the demand for integration services on OpenERP has exploded during these last few months.
“The funds raised will enable us to rebalance supply and demand by investing in our network of partners and to improve the software’s quality even further.
“The arrival of investors Olivier Sichel representing Sofinnova Partners and Xavier Niel will also herald a new era for the company”. 

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