Naboo, a French startup, has successfully completed a €7.5 million investment round led by ISAI and backed by Better Angle, CapHorn, and Maif Avenir, among other investors. The purpose of this investment is to expand the platform’s reach throughout Europe and improve its features, especially the integration of artificial intelligence components.

Since entering the corporate seminar market in 2022, Naboo has transformed an industry that had previously been dominated by conventional event agencies in terms of business models. The value proposition is obvious: a one-stop shop that lets businesses of all kinds and industries reserve corporate offsite housing, workspaces, meals, entertainment, transportation, and even the little extras that make a big difference in a guest’s experience.

The French corporate seminar business, estimated by Ernst & Young to be worth €9 billion in 2022, has grown significantly over the years, averaging about 30% annually. A major factor in this increase is the growing popularity of remote work, which calls for better team cohesion. As a result, businesses are concentrating more on seminars for certain teams than for entire organizations, which has led to team-building exercises that are more individualized and effective. Eco-friendly and local seminars are becoming more and more popular in the context of the ecological transition since they provide a more economical and sustainable alternative.

Naboo provides a technologically innovative solution to a traditional market that is being challenged by the increasing need for transparency and simplicity. The world of B2B events still relies heavily on quotes, which is in sharp contrast to the B2C travel industry, where players like Booking and Airbnb have revolutionized instantaneous and transparent booking. In an effort to innovate this industry, Naboo has created a novel platform that, for the first time, enables businesses to reserve a whole seminar at a transparent, upfront cost with just one click. To construct a customized package, choose from the offerings of over 2500 venues and 500 partners (caterers, activities, etc.) for the venue, catering, transportation, and activities.

“We’re thrilled about the journey we’ve had since Naboo’s inception: over half of the CAC 40 companies have already turned to us for their seminars. What astonishes us the most is how quickly Naboo catches on among its clients once a team books a seminar. What really draws them in is the combination of ultra-customization and the immediacy of booking, an experience that we alone offer today. They’ve never encountered anything like it, turning them into our most vocal advocates. This significant edge is made possible by AI and data, areas where we’ve decided to invest heavily with this funding round,” said Maxime Eduardo, Co-founder and CEO of Naboo.

Naboo also prioritizes the caliber and distinctiveness of its workshops. In order to achieve the best possible balance between quality and value, the platform provides a selection of meticulously vetted and accredited places and services (2500 locations and 500 service providers). This saves a great deal of time and work for organizers by making it simple to compare and schedule lectures. Naboo is poised to revolutionize the business by providing personalization and instantaneity (or time and cost efficiency) at scale by utilizing the power of data and artificial intelligence. A formula that’s already drawing scale-ups and the biggest French and foreign companies: As a result, teams from numerous companies, including EDF, Payfit, Google, Chanel, Ikea, KPMG, Airbus, and BCG, have had the opportunity to experience custom stays created with Naboo.

Naboo, which was established in 2022, accomplished the noteworthy revenue milestone of €1 million in the second quarter of 2023. In less than a year following the platform’s formal launch, Naboo’s annualized gross booking value exceeded €18 million. Naboo will use the latest €7.5 million to support its ambitious expansion objectives and technology advancements, following an initial fundraising round of €2 million in early 2022. The company wants to provide a more simplified and effective user experience by using its investments in data and AI.

Naboo is well-positioned to continue revolutionizing the corporate seminar market with its creative approach and new funding. The company provides a cutting-edge, effective, and environmentally responsible substitute for conventional seminar groups.

“In a market that’s booming, Naboo has successfully introduced a model that meets the expectations of both traditional clients in this sector and a new clientele. We are convinced that the success it has achieved this year is just the beginning of a journey that will have a lasting impact on the seminar market,” added François Collet, General Partner at ISAI.