Naboo provides $ 21 million

If you have ever tried to book a place for a corporate event, you will know how much a busy task it can be. You need to contact multiple suppliers, wait for offers, evaluate them, see if you can get a good deal and then get everything that is approved. So it makes sense that, depending on the size of the group, companies can take the shortcut to Airbnb or Booking.com or work with an agency.

The French startup Naboo is trying to bring more visibility to this fragmented market with Airbnb -sque market for corporate retreats, which, in addition to accommodation, packages in other services such as catering, activities and transport.

The company also offers a SAAS component that serves as a platform for all mice events (short for meetings, incentives, conferences and exhibitions, these are large -scale human gatherings). The platform essentially allows its large corporate clients to determine their public procurement policies, to create working processes for approval, to manage invoices and payments, and more.

Having a universal market probably helps the company sell its platform to large corporate customers. Public -traded companies are constantly looking for platforms that centralize all costs around a particular category so that they can determine budgets and see if they review.

It seems that the strategy works: Naboo says reservation volumes have tripled to € 60 million in 2024 from EUR 15 million a year earlier. This is now a market, so most of this booking value is captured by its accommodation and catering partners, but the company told TechCrunch that it has an average percentage of 17%-10% -12% reduction in suppliers and Another 5% -6% of customers. Naboo generated revenue of about € 10 million in 2024.

The company said that 10% of the French public companies listed on the CAC40 Index have used its platform and has 10 contracts that generate over € 1 million in volume of reservation annually. Some of his customers include Google, Société Générale, Veolia, Arkema, Thales and Qonto.

The startup has recently raised 20 million euros (about $ 21 million) a round of A, led by Capital Capital. In particular, the circle of the series A comes just 11 months after its circle.

With the new money, the startup wants to automate some of the manual tasks currently being processed by project managers. He has 140 people on his list, including 20 freelancers.

The company also intends to expand in other countries, starting with the United Kingdom, where the product is already live. The country already represents 10% of Naboo’s revenue and obviously things are going well.