OpenERP raises $10 million and rebrands itself Odoo

OpenERP announced it has received $10 million in new funding from VC firms and its management team, and that it is rebranding its offering Odoo to reflect its positioning as a suite of business applications that extend beyond core ERP to support point of sale (POS), content management, e-commerce, and marketing. Its addition of key business modules beyond the four enterprise pillars are a bonus, but in a noisy cloud ERP marketplace, Odoo will need more than a rebranding to compete against better-funded competitors.