Naboo Raises $21 Million to Expand Corporate Event Planning Tool

Paris-based corporate event planning startup Naboo raised 20 million euros (about $21 million) to expand throughout Europe.

The company’s Series A round is designed to help Naboo address a global corporate event market projected to grow to $24.6 billion by 2031, said Notion, the venture capital group that led the round, in a Wednesday (Jan. 29) announcement.

That market “is very fragmented and there is no automation when it comes to event planning,” the announcement said. “Naboo is aiming to capture this opportunity by bringing a digital-first and automated solution to the corporate event industry.”

Naboo’s solution lets companies instantly book internal events such as retreats or parties, offering software-as-a-service (SaaS) products that can be integrated with company tech stacks, per the announcement.

Launched two years ago, Naboo nearly quadrupled its booking volumes in 2024, the same year it launched its enterprise offering, with 10 European Union-listed companies signing 1 million euro to 10 million euro per year contracts, according to the announcement.

“What we’d predicted came true,” said Naboo co-founder and CEO Maxime Eduardo, Tech Funding News reported Wednesday. “There’s been an explosion of team-building activities and in-person events due to the rise of remote work. It’s all about fostering social interaction, creating a feeling of belonging, which engenders employee loyalty and commitment.”

In other automation-related news, accounts receivable (AR) automation can bring visibility to cash flow and payment forecasting, while also preventing errors and delays.

“The automation of invoice tracking allows businesses to streamline AR operations, reducing costly mistakes and improving cash flow management,” PYMNTS wrote this week.

The PYMNTS Intelligence report “Window of Opportunity: Gaining AR Transparency Through Automation” showed that 77% of chief financial officers at large U.S. firms said AR automation reduces delays through improved invoice tracking. In addition, 85% of CFOs said automation helps them tackle invoice errors and discrepancies, which could otherwise hinder payment cycles and put a strain on supplier relationships.

AR automation helps businesses keep track of invoices in real time, identify discrepancies more quickly and process faster payments.

“As a result, they can better manage cash flow and make more informed strategic decisions,” PYMNTS reported.