Naboo Secures $21 Million Funding to Revolutionize Corporate Event Booking
Imagine the stress of organizing a company event. The endless calls to vendors, waiting for quotes, comparing prices, seeking approval—it’s a daunting task. When faced with this challenge, many companies opt for the convenience of Airbnb or Booking.com, or rely on event agencies to handle the logistics. Enter Naboo, a French startup that aims to simplify and streamline the corporate event booking process with its innovative platform.
Naboo operates as an Airbnb-style marketplace for corporate retreats, offering not just accommodation but also bundled services like catering, activities, and transportation. This all-in-one approach is designed to bring much-needed visibility to the fragmented market of event planning. In addition to its marketplace, Naboo provides a Software as a Service (SaaS) component tailored for MICE events—Meetings, Incentives, Conferences, and Exhibitions—a crucial tool for managing large-scale gatherings efficiently.
The appeal of Naboo’s platform lies in its ability to centralize spending for major corporate clients, enabling them to set budgets, track expenses, and streamline approval processes. This value proposition has resonated well with businesses, as evidenced by Naboo’s impressive growth. The company reported a fourfold increase in booking volumes, reaching €60 million in 2024 from €15 million the previous year. While most of this revenue flows to accommodation and catering partners, Naboo’s own take-rate of 17% translates to considerable earnings, with revenues hitting around €10 million in 2024.
Naboo’s success story is further underscored by its impressive client roster, which includes major names like Google, Société Générale, Veolia, Arkema, Thales, and Qonto. Notably, the startup has secured contracts with 10 French public companies listed on the CAC40 index, generating over €1 million in booking volume annually. This high-profile clientele speaks volumes about Naboo’s credibility and reputation in the corporate event planning sphere.
To fuel its growth and expansion plans, Naboo recently closed a €20 million Series A funding round led by Notion Capital, bringing its total funding to $21 million. The swift follow-up to its seed round within just 11 months signals investor confidence in Naboo’s vision and potential. With the fresh capital injection, the company aims to automate manual tasks currently handled by project managers and enhance operational efficiency.
Looking ahead, Naboo has its sights set on international expansion, with the U.K. as its first target market. The platform is already operational in the U.K., contributing significantly to Naboo’s revenue stream. This strategic move underscores Naboo’s ambition to tap into global markets and establish itself as a dominant player in the corporate event booking space.
In the words of Romain Dillet, a Senior Reporter at TechCrunch, Naboo’s rapid growth trajectory and innovative approach are poised to disrupt the traditional event planning landscape. With a keen eye for spotting emerging startups and a deep understanding of the tech industry, Dillet recognizes Naboo’s potential to revolutionize corporate event booking and set new industry standards. As Naboo continues to make waves in the market, its commitment to innovation and customer-centric solutions positions it as a game-changer in the realm of corporate event planning.
As the tech world evolves and companies seek more efficient and streamlined solutions for their event planning needs, Naboo stands at the forefront of this transformative shift, poised to redefine the way corporate events are organized and executed. With its recent funding success and ambitious growth plans, Naboo is well-positioned to shape the future of corporate event booking and set new benchmarks for industry excellence.
