The global market for corporate event procurement is worth $400 billion, but it remains fragmented and inefficient. Companies often face manual sourcing, tough supplier negotiations, compliance issues, and frequent budget overruns.
Naboo, based in Paris, tackles these problems with an AI platform that helps businesses book, manage, and optimise spending on meetings, incentives, conferences, and exhibitions (MICE). The platform gives users instant access to suppliers, automates tenders, and can save up to 30% in costs.
Naboo just raised $70 million in Series B funding led by Lightspeed Venture Partners. Notion Capital, ISAI, and Ternel also participated. This follows a €20 million Series A round last year.
The new funding comes after Naboo tripled its year-over-year growth, reached $150 million in business volume, and maintained zero client churn. Its clients include KPMG, HSBC, Meta, Google, and a quarter of the CAC 40 companies.
Naboo’s goal is to help large enterprises use AI to manage and streamline their global event spending.
Naboo was founded in 2022 by Maxime Eduardo, Antoine Servant, Lucien Bredin, and Jean-Louis Villeminot. They had backgrounds in technology startups and enterprise sales and saw that event management remained a major analogue challenge for many companies.
Eduardo shares with us, “Naboo was founded to modernise the $400 billion global corporate events market by addressing the chronic inefficiencies of ‘tail spend’ (Class C spending).”
Naboo’s main product is an AI agent that lets users book instantly, optimise tenders, and make centralised payments with corporate cards. This approach combines high-touch service with automated sourcing, resulting in over 90% tender win rates.
Eduardo tells TFN, “Naboo centralises fragmented spending where various departments book vendors independently, providing visibility to large enterprises. The platform replaces the ‘manual nightmare’ of multiple invoices with a single corporate payment card and an integrated workflow.”
“Its AI-powered infrastructure enforces strict corporate policies and procurement standards on a global scale. By using specialised AI to manage tenders for every event, Naboo helps clients save up to 30% of their budgets,” adds Eduardo.
Unlike older providers like Cvent, which focuses on the US and uses less AI, or Bizzabo, which specialises in marketing events, Naboo offers procurement for the whole enterprise with a focus on compliance.
Eventbrite, which serves small businesses and consumer ticketing, and Trippus, which offers planning tools in Europe, are direct competitors. However, they do not have Naboo’s full AI platform or its strong relationships with Fortune 500 clients.
What about diversity?
On diversity, Eduardo says, “Naboo currently employs over 200 people. The team is spread across eight countries, with major hubs in Paris, London, Barcelona, Montreal, and New York. The team includes at least 23 different nationalities, 51% of female vs. 49% male”
What’s next for Naboo?
The $70 million investment will help Naboo expand in the US, starting with a new office in New York, following its openings in Montreal and London.
Eduardo concludes, “Our primary objective is rapidly scaling their new New York hub to capture a significant share of the North American market. Naboo plans to expand its AI platform beyond events to cover all ‘tail-spend’ procurement categories for large corporations. We aim to triple its revenue in 2026 and exceed $1 billion in business volume by 2027.”
