Paris-headquartered Naboo has raised $70 million in a Series B funding round, as it aims to expand its platform for planning, booking, and controlling corporate events for large companies.
The funding round is led by Lightspeed Venture Partners, which also backed Mistral AI in 2023. This investment comes just a year after Naboo closed a €20 million Series A round. Naboo describes itself as an AI-powered procurement platform for corporate events, covering a wide range of services including venue booking, travel, supplier coordination, and budget control. Founded in 2022, Naboo has established itself as a simplifier of corporate event organization and management.
The successful funding round is expected to propel Naboo forward in its mission to become the operating layer for corporate event planning. With the new investment, Naboo is poised to further develop its platform and expand its reach in the corporate events sector. As the company continues to grow and evolve, it will be interesting to see how its AI-powered procurement platform shapes the future of corporate event planning.
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