Naboo secures $70 million for a platform focused on event procurement powered by AI.

      Paris-based Naboo has secured $70 million in Series B funding to further its goal of becoming the primary platform for large corporations to plan, book, and manage corporate events. This investment round is led by Lightspeed Venture Partners, the same backer that supported Mistral AI in 2023, and comes just a year after Naboo completed a €20 million Series A funding round.

      Naboo describes itself as an AI-driven procurement platform for corporate events, streamlining processes from venue booking and travel arrangements to supplier management and budget oversight.

      Founded in 2022, Naboo established its reputation by simplifying the organization and execution of corporate events, covering everything from venue and catering bookings to logistics and attendee management through a comprehensive platform that enhances speed and transparency in a typically disjointed process.

      By incorporating AI into a traditionally fragmented, manual workflow, the company asserts that it has emerged as Europe's leading procurement platform for corporate events—a segment of the significant $400 billion global events industry that has historically resisted software integration.

      The timing is crucial, as corporate events intersect with travel, finance, and operations, yet they are frequently overseen outside of standard procurement frameworks. Naboo’s approach emphasizes that events should be managed like any other strategic expenditure—measurable, optimized, and controlled via a unified platform. This strategy has resonated with major corporations, particularly in the UK, which has become Naboo’s largest market outside of France after launching its London office in 2025.

      With new funding, Naboo is poised to make a more decisive move on the international stage, opening a new hub in New York as part of a broader expansion into the US market, anticipating that multinational clients will prefer a single system for managing events across diverse regions, teams, and currencies.

      In just three years, Naboo has become one of the notable players in this sector, driven by enterprises seeking improved oversight over decentralized spending.

      The broader ambition goes beyond events; Naboo plans to enhance its AI procurement platform to address “tail spend”—the smaller, often overlooked purchases that typically fall outside of primary procurement tools. Within enterprise finance, this is often categorized as Class C spending, where individual transactions may be minor, but the total can accumulate quickly. Naboo aims to provide businesses with a cohesive, AI-enhanced perspective of this expenditure, starting with events and expanding outward.

      The targets set by Naboo are significant, with plans to triple revenue by 2026 and exceed $1 billion in business volume by 2027. Achieving these goals will hinge on how much enterprises are willing to centralize spending that has traditionally been managed through spreadsheets and emails. What is evident is that Naboo is counting on the next evolution of enterprise AI not only to analyze data but also to fundamentally transform spending practices.