If you’ve got ever tried to order a place for a company’s event, you will know how a troublesome task is. You have to contact many suppliers, wait for quotes, evaluate them, check if you possibly can get a good offer, and then get all this approved. So it makes sense that depending on the size of the group’s group, they’ll transfer the shortcut to Airbnb or Booking.com or cooperate with the agency.
The French startup of Naboo tries to introduce greater visibility on this fragmentary market because of the Airbnb market for corporate retreats, which, in addition to accommodation, packages in other services resembling catering, activities and transport.
The company also offers Saas component This serves as a platform for all mouse events (short for meetings, incentives, conferences and exhibitions, these are large meetings of individuals). The platform principally allows its large corporate customers to define their shopping rules, create work flows, manage invoices and payments, and more.
Having a versatile market probably helps the company sell its platform to large corporate customers. Stock firms are continually looking for platforms that centralize all expenses around a specific category so that they’ll set budgets and check if they spend excessively.
It seems that the strategy works: Naboo claims that its booking increased 4 times to EUR 60 million in 2024 from EUR 15 million earlier. Now it is a market, so most of this booking value is recorded by its accommodation and gastronomic partners, but the company told Techcrunch that it has an average 17% rating -10% -12% from suppliers and one other 5% -6% from customers. Naboo generated revenues of around EUR 10 million in 2024.
The company stated that 10% of French public firms listed in the CAC40 index used its platform and has 10 contracts that generate over 1 million euros in the volume of booking per 12 months. Some of his clients are Google, Société Générale, Veolia, Arkema, Thales and Qonto.
The startup recently collected EUR 20 million (about $ 21 million) round of series A under the leadership of the Capital concept. In particular, the series A will appear only 11 months after the seed round.
Thanks to the latest money, the startup desires to automate some of the manual tasks that are currently served by project managers. He has 140 people in its composition, including 20 freelancers.
The company also intends to expand to other countries, starting from Great Britain, where the product is already alive. The country is already 10% of Naboo revenues and apparently every part is going well.