French startup Naboo has secured $21 million (€20 million) in a Series A funding round led by Notion Capital, just 11 months after its seed round.
The company aims to streamline corporate event planning through its AI-driven concierge-style booking platform, which integrates accommodations, catering, activities, and transportation into a single, user-friendly system.
Simplifying Corporate Event Planning
Naboo functions as an Airbnb-style marketplace tailored for corporate retreats and large-scale events. It eliminates the traditionally fragmented process of contacting multiple vendors by offering an all-in-one solution where companies can:
- Browse and book venues tailored to their needs.
- Access bundled services such as catering, team activities, and logistics.
- Utilize a SaaS platform for procurement policies, approval workflows, and budget management.
This centralized approach appeals to large enterprises, allowing them to track and optimize event spending efficiently.
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Rapid Growth and Market Adoption
Since launching in 2023, Naboo’s booking volume has quadrupled, reaching €60 million in 2024, up from €15 million the previous year. While most of this revenue goes to its accommodation and service partners, Naboo operates on a 17% commission model, earning between 10-12% from providers and 5-6% from clients. This translated to €10 million in revenue in 2024.
Major clients include Google, Société Générale, Veolia, Arkema, Thales, and Qonto, with 10% of CAC40-listed French companies using the platform. Naboo also has 10 enterprise contracts generating over €1 million in bookings per year.
Expansion Plans and Automation
With its new funding, Naboo plans to:
- Automate manual processes currently handled by its 140-person team (including 20 freelancers).
- Expand internationally, starting with the UK, which already accounts for 10% of its revenue.
- Enhance its AI-driven platform, making event planning more efficient and scalable.
Looking Ahead
By leveraging AI and automation, Naboo aims to redefine corporate event planning, reducing administrative workload while offering a seamless, data-driven experience for enterprises. With strong investor backing and a rapidly growing client base, the company is well-positioned to become a dominant force in the $1 trillion global event industry.
