Naboo, a Paris-based event management platform, has completed the acquisition of pro-ven, a UK-based meetings and events specialist, following the close of its €58.7 million Series B funding round. The acquisition marks a significant expansion for the French startup as it seeks to establish itself as a leading player in the meetings and events spend management sector.
The Series B round was led by Lightspeed Venture Partners, with participation from Notion Capital, ISAI, and Ternel. This brings Naboo’s total funding to €90 million since its founding in 2022. The company financed the pro-ven acquisition through an equal split of equity and debt, combining financial resources with operational leverage to complete the deal.
Strategic Market Expansion
The acquisition creates a combined entity known as Naboo UK, which now oversees approximately €269 million in global meetings and events spend. Pro-ven’s established presence in the United Kingdom provides Naboo with immediate market access and operational infrastructure in one of Europe’s largest event management markets.
Naboo has committed to retaining pro-ven’s existing 20-person team, signalling its intention to build upon the acquired company’s expertise rather than consolidate operations. The move reflects a broader strategy to expand the AI-driven capabilities of Naboo’s event management platform across the UK market while maintaining local knowledge and client relationships.
Industry Consolidation Trends
According to Maxime Eduardo, the vision for market consolidation centres on technology-driven solutions. “The future category leader in the M&E spend management market will be a pure player. Both event planners and procurement leaders have very high expectations in terms of user experience, embedded compliance, payment simplification, spend analytics and transparency,” he stated.
This observation highlights the sector’s shift towards integrated platforms that address multiple pain points simultaneously. Rather than fragmented point solutions, customers increasingly demand comprehensive systems that handle event planning, compliance tracking, payment processing, and financial visibility in unified interfaces.
European Context
The acquisition reflects growing consolidation within the European event-tech sector, where venture-backed companies are seeking scale through strategic acquisitions rather than organic growth alone. The €90 million total funding level places Naboo among the better-capitalized European SaaS platforms in the event management space, positioning it to compete with larger, established players.
The Series B round’s participation from established European venture capital firms including Notion Capital and ISAI demonstrates continued investor confidence in the sector despite broader market volatility. As European companies digitise spending management across various operational categories, the meetings and events space represents a significant opportunity for platforms that can deliver both functionality and compliance oversight to enterprise customers.