A funding round totaling €7.5 million was effectively completed by the French startup Naboo, with the backing of ISAI, Kima Ventures, Better Angle, and its former partners CapHorn and Maif Avenir. The allocated funds will be utilised to improve the functionality of the platform, with a specific focus on incorporating artificial intelligence elements, and to extend its market presence across Europe.
Naboo, which debuted in 2022, has brought about a significant paradigm shift in the realm of corporate seminars, an industry that had been predominantly controlled by conventional event agencies. The value proposition is unambiguous: a unified platform that empowers organisations across all sectors and scales to promptly reserve any requirement that may arise during a corporate offsite. This includes lodging, workspaces, catering, activities, transportation, and even the most minute particulars that will elevate your sojourn.
Ernst & Young valued the French corporate seminar industry at €9 billion in 2022; it has experienced and continues to experience substantial development (approximately +30% annually). The primary factor behind this upswing is the heightened implementation of remote work, which has created a need for enhanced team unity. As a reaction, corporations are placing greater emphasis on organising seminars tailored to individual teams as opposed to entire organisations; this is resulting in team-building activities that are more individualised and influential. Offering a more cost-effective and sustainable alternative, eco-friendly and regional seminars are experiencing a surge in popularity within the realm of ecological transition.
Naboo, through technological innovation, presents an alternative to the increasing demand for simplicity and transparency, thereby challenging the established market. The B2B event industry continues to rely heavily on quotations, which stands in stark contrast to the paradigm shift in the B2C travel sector ushered in by Booking and Airbnb, where reservations are made instantly and openly. In order to introduce novelty to this industry, Naboo has created an unprecedented platform that enables businesses to reserve an entire seminar with a solitary click and at a transparent, no-surprise cost. A distinctive package can be assembled by choosing the catering, transportation, venue, and activities from a pool of more than 2500 locations and 500 partners (caterers, activities, and so forth).
“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.
Additionally, Naboo emphasises the uniqueness and excellence of its seminars. A variety of meticulously audited and certified establishments and services are provided by the platform (2,500 establishments and 500 service providers), guaranteeing an ideal equilibrium between value and quality. Organisers are now able to effortlessly compare and reserve seminars, a procedure that otherwise requires a substantial amount of time and effort. Naboo has the potential to revolutionise the industry by facilitating extensive customisation and instantaneity (or time and cost efficiency) through the utilisation of artificial intelligence and data. An approach that is presently garnering interest from major French and international corporations, in addition to scale-ups: Thus, numerous organisations, including EDF, Payfit, Google, Chanel, Ikea, KPMG, Airbus, and BCG, have been able to experience customised stays facilitated by Naboo.
Naboo, an organisation established in 2022, accomplished the momentous revenue milestone of €1 million in the second quarter of 2023. Naboo surpassed €18 million in Annualised Gross Booking Value in less than a year following the platform’s official discharge. Following an initial funding round of €2 million in early 2022, Naboo has now secured €7.5 million to further its technological advancements and support its ambitious growth objectives. The organization’s objective is to leverage its investments in artificial intelligence and data to provide users with an ever more streamlined and efficient experience.
Naboo, by virtue of its recent funding and innovative strategy, is exceptionally positioned to further revolutionise the corporate seminar industry by providing a contemporary, eco-friendly, and efficient alternative to conventional seminar organisations.
“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 Francois Collet, general partner at ISAI.
Source– eu-startups.com
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