Naboo raises $70M to build global AI-powered events procurement platform

The French start-up is now targeting the American market with a new New York base

Naboo secures $70 million in Series B funding led by Lightspeed Venture Partners to accelerate its US expansion and develop its AI-powered corporate events management platform. The French start-up, which has become a European market leader in just three years, is now targeting the lucrative American market with a new New York base.

Just one year after completing a €20 million Series A funding round, Naboo has closed a $70 million Series B led by prominent US venture capital fund Lightspeed Venture Partners, with participation from existing investors Notion Capital, ISAI, and Ternel. This second major funding round in twelve months reflects the strong market demand for AI-powered solutions in the corporate events sector, a global market estimated at $870 billion according to recent industry research.

Founded in 2022 and headquartered in Paris, Naboo has revolutionised the corporate events industry by developing an AI-powered platform for booking, managing and running MICE (Meetings, Incentives, Conferences and Exhibitions) events. The company has achieved remarkable traction, processing significant business volume whilst demonstrating strong client retention and securing major international accounts. The platform has experienced substantial year-on-year growth over the past three years.

Rapid US market penetration drives expansion

After establishing itself as the European leader in corporate events management, Naboo is accelerating its international expansion with a new hub in New York, following last year's opening of a Montreal office. The American market has proven particularly receptive to Naboo's offering, with the start-up securing major clients including Google, Microsoft, JP Morgan, HubSpot, Figma and Coca-Cola.

Lightspeed Venture Partners, known for backing high-growth European technology companies such as Mistral AI, brings significant expertise in scaling AI-powered platforms. "AI is redefining how teams work: less fragmented coordination, better decision-making, and higher expectations," commented Antoine Moyroud from Lightspeed Venture Partners. "By delivering tangible value through the latest AI, Naboo has built a truly unique platform, capable of extending to other fragmented spending areas by large corporations, paving the way for the digitalisation of vast service markets previously inaccessible to new software."

The corporate events market is undergoing significant transformation driven by AI capabilities and the growth of customer and partner-oriented events such as conferences and product launches, which represent strategic expenditure for many corporations globally.

From events platform to procurement infrastructure

This new funding will enable Naboo to accelerate several strategic initiatives beyond its core events offering. The company plans to develop an AI agent allowing clients to book independently and instantly, complementing its existing concierge service. Naboo is also launching a corporate payment card integrated into clients' existing workflows and technology ecosystems to centralise and simplify all payments.

The platform's AI capabilities will be enhanced to manage tenders for events of all sizes, delivering significant cost savings on clients' budgets. Looking ahead, Naboo intends to expand beyond events into adjacent procurement categories characterised by fragmented spending and supply chains, numerous payments and strict compliance requirements.

"This $70M Series B gives us the means to define the global standard for AI-powered event procurement," said Maxime Eduardo, CEO and co-founder of Naboo. "Our mission is clear: to provide large enterprises with an infrastructure that combines purchasing performance, compliance and automation on a global scale."

To support this growth phase, Naboo is implementing a strategic hiring plan across its Paris, Hamburg, Barcelona, Montreal and New York hubs, with key openings for account managers, AI and data engineers, and senior leadership positions including Chief Operating Officer, HR Director, Engineering Director and Marketing Director. The company is positioning itself for continued rapid expansion in the coming years.

With 180 employees across eight countries, Naboo currently works with major French corporations and global companies such as Meta, Google, Siemens and Amazon. The company has raised €100 million over the past three years as it transforms from a European events platform into a global procurement infrastructure powered by artificial intelligence.