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France: Corporate offsite booking platform Naboo has announced that it has raised a further €20 million in Series A funding to disrupt the global business tourism market.
The funding round was led by venture capital investment firm Notion Capital, with participation from existing investors ISAI and Ternel, and a number of business angels.
Naboo, which raised €7.5 million last February and €1.96 million in a pre-seed funding round prior to that, will now look to expand its European footprint in the UK, Benelux, Germany, Italy and Spain, as well as in the United States. In addition, it plans to enhance its tech offering and AI capabilities, double the number of programmers in its tech team, and grow its team from 70 to 80 employees by the end of the year.
Founded in 2022, the Paris-based startup is aiming to disrupt the corporate seminar and business tourism industry, both domestically and internationally. What Naboo believes differentiates itself from its competitors, though, is its ability to facilitate instant bookings at a transparent price and its all-inclusive offering that enables users to book additional services such as accommodations, workspaces, catering, activities and transportation.
In less than three years, Naboo has built a network of 4,000 partner companies, from SMEs to major accounts, and accumulated a collection of more than 500 places, all of which are audited and certified by the company’s team. The company has also recorded €60 million in business volume and raised almost €30 million in investment in that period.
Naboo works with both French and global firms, including EDF, Google, KPMG, Ikea, Chanel, Airbus, Payfit and BCG.
Maxime Eduardo, co-founder and CEO of Naboo, told Maddyness: “The Americans have taken over the B2C [business-to-consumer] tourism market. We want to beat them on the B2B [business-to-business] market and we are raising to move quickly.”
As more companies adopt remote and hybrid working policies, Naboo is setting out to build a corporate offsite booking platform that simplifies and reduces the time and effort involved in the booking process, and is also personalised and customised to specific teams [rather than catering to entire organisations] by leveraging data and AI.
