If you have tried to book a place for a company event, you will know how embarrassed it can be. You need to contact multiple suppliers, wait for quotes, evaluate, and make sure you can do a good deal, and get everything you approved. Therefore, depending on the size of the group, the company can take the shortcut to Airbnb or Booking.com or cooperate with the agency.
In addition to accommodations, the French Startup NABOO is trying to provide more visibility to this fragmentary market through Airbnb-ESque Marketplace for the Bundle of other services such as catering, activities and transportation.
The company also provides SaaS components that serve as a platform for all mouse events (large meetings of short people in meetings, incentives, conferences and exhibitions). This platform basically allows large companies to define procurement policies and manage approval workflow creation, invoice and payment.
Equipped with an all -in -one marketplace helps the company sells the platform to large companies. The publicly traded company continues to focus on a platform that can continue to centralize all spending around the specific category to set the budget and confirm whether it is excess.
NABOO seems to be effective in this strategy. NABOO said in 2024 that the reservation fell four times from 15 million euros to 60 million euros from 2024. Since this is a market, most reservation value is captured by accommodation and catering partners, but the company has 17%of the average takrate in TechCrunch. And 5% -6% of customers. NABOO generated about 10 million euros in 2024.
The company said that 10%of the French public companies listed on the CAC40 index used the platform and have 10 contracts that produce more than 1 million euros each year. Some customers include Google, Société Générale, Veolia, Arkema, Thales and Qonto.
Startup recently raised the A round of 20 million euros (about $ 21 million) led by Notion Capital. In particular, the series A round comes in just 11 months after the seed round.
Startups with new money are trying to automate some manual work processed by the current project manager. There are 140 people on the list, including 20 freelancers.
The company also wants to expand to other countries, starting with the UK, where the product is already living. This country has already accounted for 10%of NABOO income, and work is going well.
