[Funding alert] Paris-based Naboo Secures €7.5 Million in Funding

Since entering the corporate seminar market in 2022, Naboo has transformed an industry that had previously been dominated by conventional event agencies in terms of business models.

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The value proposition is obvious: a one-stop shop that lets businesses of all kinds and industries reserve corporate offsite housing, workspaces, meals, entertainment, transportation, and even the little extras that make a big difference in a guest's experience.

The French corporate seminar business, estimated by Ernst & Young to be worth €9 billion in 2022, has grown significantly over the years, averaging about 30% annually. A major factor in this increase is the growing popularity of remote work, which calls for better team cohesion.

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Naboo provides a technologically innovative solution to a traditional market that is being challenged by the increasing need for transparency and simplicity. The world of B2B events still relies heavily on quotes, which is in sharp contrast to the B2C travel industry, where players like Booking and Airbnb have revolutionized instantaneous and transparent booking.

Maxime Eduardo, Co-founder and CEO of Naboo said, “We’re thrilled about the journey we’ve had since Naboo’s inception: over half of the CAC 40 companies have already turned to us for their seminars. What astonishes us the most is how quickly Naboo catches on among its clients once a team books a seminar. What really draws them in is the combination of ultra-customization and the immediacy of booking, an experience that we alone offer today. They’ve never encountered anything like it, turning them into our most vocal advocates. This significant edge is made possible by AI and data, areas where we’ve decided to invest heavily with this funding round,”.

Naboo also prioritizes the caliber and distinctiveness of its workshops. In order to achieve the best possible balance between quality and value, the platform provides a selection of meticulously vetted and accredited places and services (2500 locations and 500 service providers). This saves a great deal of time and work for organizers by making it simple to compare and schedule lectures.

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François Collet, General Partner at ISAI said, “In a market that’s booming, Naboo has successfully introduced a model that meets the expectations of both traditional clients in this sector and a new clientele. We are convinced that the success it has achieved this year is just the beginning of a journey that will have a lasting impact on the seminar market,”.

About Naboo

Naboo, which was established in 2022, accomplished the noteworthy revenue milestone of €1 million in the second quarter of 2023. In less than a year following the platform's formal launch, Naboo's annualized gross booking value exceeded €18 million.

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Naboo will use the latest €7.5 million to support its ambitious expansion objectives and technology advancements, following an initial fundraising round of €2 million in early 2022.