Naboo Secures $70 Million Series B to Revolutionize Corporate Event Management with AI

Paris-based Naboo announced today it has raised $70 million in a Series B funding round, bolstering its position as a leading AI-powered platform for corporate event procurement and management.The investment, led by Lightspeed Venture partners – also an investor in mistral AI – follows a €20 million Series A round closed in 2023, demonstrating rapid growth and investor confidence.

Naboo aims to become the central operating layer for large enterprises seeking to streamline the complex process of planning, booking, and controlling corporate events. the platform integrates AI to manage all facets of event association, including venue sourcing, travel arrangements, supplier coordination, and extensive budget oversight.

Founded in 2022, Naboo addresses a notable pain point for businesses: the traditionally fragmented and inefficient nature of corporate event planning. By centralizing these processes and leveraging artificial intelligence, Naboo promises to deliver ample cost savings, improved efficiency, and greater control over event expenditures.

The company’s platform is designed to simplify event management from initial booking through post-event reconciliation.Naboo’s AI capabilities are expected to automate tasks such as identifying optimal venues based on specific criteria,negotiating with suppliers,and tracking expenses in real-time.

Lightspeed Venture Partners’ decision to lead this funding round underscores the growing recognition of AI’s transformative potential within the business travel and event management sectors. The investment will enable Naboo to accelerate product advancement,expand its team,and scale its operations to meet increasing demand from enterprise clients.

Naboo’s emergence reflects a broader trend toward technology-driven solutions in the corporate events space, as companies increasingly prioritize data-driven decision-making and seek to optimize their event ROI.