Naboo raises $70m to expand its AI-powered events procurement platform
On 11 February 2026, Naboo closed a $70 million round to scale its AI-powered events procurement platform. For planners, venues, and agencies, this points to faster sourcing cycles, stronger cost control, and more accountability across the sourcing-to-settlement process.
Why this matters for your P&L
- Shorter sourcing cycles: expect RFP turnaround times to compress from weeks to days.
- Rate discipline: better benchmarking makes outlier quotes stand out, which pressures margins but improves win probability for competitive suppliers.
- Policy control: approvals, budgets, and contract terms become enforceable checkpoints, not suggestions.
- Sustainability and diversity reporting: platforms can capture and surface these requirements without extra spreadsheets.
Where AI fits in the procurement flow
- Intake: convert a brief into venue requirements, budget ranges, and must-haves.
- Supplier matching: auto-build a venue list based on capacity, location, blackout dates, and historical fit.
- RFP generation and scoring: standardize templates, score responses against weighted criteria, flag missing data - apply Prompt Engineering practices to produce clearer, more consistent requests and evaluations.
- Rate benchmarking: compare proposed rates to historicals and market baselines.
- Contract review: surface risk clauses, concessions, and payment terms that deviate from playbooks.
- Approvals and audit: route deals to finance/legal with a clean trail.
- Post-event reconciliation: match BEOs and invoices to the original scope, then push actuals to finance.
What to do in the next 30 days
- Map your current workflow from brief to invoice. Identify two friction points that cost the most time or money.
- Standardize your RFP and scoring rubric. Agree on 5-7 weighted criteria so every venue gets assessed the same way.
- Centralize venue and rate history in one place. Even a lightweight database beats scattered files.
- Pick a low-risk event type (e.g., internal meetings) for a pilot with any procurement platform you're considering.
- Negotiate data ownership and export rights up front. Your history is an asset-treat it like one.
KPIs to watch
- Sourcing cycle time: request to signed contract.
- Savings vs. benchmark: percentage below target or historical rate.
- Win rate: accepted proposals vs. sent.
- Compliance rate: events completed within budget and policy.
- Supplier response completeness: % of RFPs returned without follow-up questions.
- Sustainability and diversity coverage: % of events meeting declared standards.
Questions to ask vendors (including Naboo)
- Data: Who owns our data, and how can we export it in full?
- Benchmarks: What sources inform your market rates, and how current are they?
- Scoring transparency: Can we see and adjust the weights behind recommendations?
- Contracts: Do you detect risky clauses and track concessions across versions?
- Integrations: Do you connect with our CRM, finance, and SSO without custom builds?
- Security: What certifications and audit reports are available for review?
Risks and guardrails
- Over-automation: keep human review for high-value contracts and unusual terms.
- Bias: audit recommendation logic to avoid over-favoring the same suppliers.
- Lock-in: insist on clear exit terms and full data portability.
- Change management: train planners and suppliers on the new workflow before enforcing policies.
For suppliers and venues
- Respond in the platform format. Structured data gets scored faster and fairer.
- Showcase proof points: pickup history, flexibility windows, and add-ons that influence total value.
- Keep rate cards and blackout dates current to avoid auto-filters excluding you.
Sustainability isn't a side note
Expect more RFPs to request emissions estimates, waste reduction plans, and certifications. If you need a baseline, review the Event Industry Council's standards to align your data capture with buyer expectations.
Event Industry Council - Sustainable Event Standards
Bottom line
$70 million flowing into events procurement tech signals a harder push for speed, savings, and measurable outcomes. If you tighten your data, standardize decisions, and pilot on low-risk events, you'll see results without disrupting revenue.
Want a practical path to upskill your team on AI workflows for sourcing, RFPs, and reporting? Explore focused programs here: Complete AI Training - Courses by Job
Event teams can also find targeted resources at AI for Hospitality & Events.
Date: 11 February 2026
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