Naboo, a Paris-headquartered company, has raised $70 million in a Series B funding round led by Lightspeed Venture Partners.

The investment aims to support Naboo’s goal of becoming the primary platform for large companies to plan, book, and manage corporate events, leveraging its AI-powered procurement capabilities.

Naboo’s platform covers various aspects of event planning, including venue booking, travel arrangements, supplier coordination, and budget control, and comes a year after the company closed a €20 million Series A round.

Naboo has raised $70 million in a Series B funding round, led by Lightspeed Venture Partners, as it aims to expand its AI-powered event planning platform into a comprehensive corporate procurement solution. This investment comes just one year after Naboo closed a €20 million Series A round, demonstrating the company’s rapid growth and ambitious plans.

Naboo, founded in 2022 and headquartered in Paris, has established itself as a key player in simplifying corporate event planning, covering a wide range of services including venue booking, travel arrangements, supplier coordination, and budget control. By leveraging AI technology, Naboo seeks to become the operating layer for large companies to plan, book, and manage corporate events. The fact that Lightspeed Venture Partners, which also backed Mistral AI in 2023, is leading this investment round underscores the potential of Naboo‘s innovative approach to corporate event planning.

The successful completion of this Series B funding round is expected to propel Naboo forward in its mission to transform the corporate events sector. With this new investment, Naboo is poised to further develop its platform, enhancing its capabilities and expanding its reach within the corporate procurement market. As the company continues to grow and evolve, it will be interesting to see how Naboo‘s AI-powered procurement platform shapes the future of corporate event planning and management.