If you’ve ever tried to book a place for a company event, you will know how heavy it can be a task. You need to contact many sellers, wait for quotes, appreciate them, see if you can get a good deal, and then get all that is approved. So it makes sense that depending on the size of the group, companies can get the shortcut in Airbnb or Booking.com, or work with an agency.
French Naboo start is trying to bring more visibility to this fragmented market with an Airbnb-Esque market for corporate attraction that, 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 events of mice (short for meetings, incentives, conferences and exhibitions, these are large -scale gatherings of people). The platform essentially allows its large corporate customers to determine their procurement policies, create approval flow flows, manage bills and payments, and more.
Having a comprehensive market is likely to help the company sell its platform to large corporate clients. Publicly traded companies are constantly looking for platforms that centralize all expenses around a specific category so they can set budgets and see if they are redundant.
The strategy seems to be running: Naboo says its booking volumes quadrupled to € 60m in 2024 from € 15 million a year ago. Now, this is a market, so most of that booking value is being captured by its accommodation and catering partners, but the company told Techcrunch it has an average rate of 17% -requires a 10% -12% reduction from providers and 5% -6% from clients. Naboo generated revenue of about € 10 million in 2024.
The company said 10% of French public companies listed in the CaC40 index have used its platform, and it has 10 contracts generating more than € 1 million in booking volume per year. Some of its customers include Google, Société Générale, Veolia, Trees, Thales and Qonto.
The beginning recently collected a series of € 20m (about $ 21 million) a round led by Capital notion. In particular, Serie A round comes only 11 months after its seed round.
With new money, the beginning wants to automate some of the manual tasks currently treated by its project managers. She has 140 people on her list, including 20 freelarder.
The company also aims to expand to other countries, starting with the UK, where the product is already live. The country already represents 10% of Naboo’s income, and apparently things are going well.
