Spectaflow closes €1.7m post-seed funding round

Iceland: Reykjavik-based operations management platform Spectaflow, which provides vacation rental and hotel operators with an integrated SaaS [software-as-a-service] solution, has announced that it has raised €1.7 million in post-seed funding.

The round was led by venture capital investment firm Frumtak Ventures, with participation from existing investors, alongside the Icelandic New Business Venture Fund, Blue Lagoon founder and CEO, Grimur Saemundsen, CCP Games CEO Hilmar Veigar Petursson, and founder of TeaTime and Plain Vanilla Games, Thor Fridriksson.

It takes Spectaflow’s total funding to date to €2.5 million in investment and grants.

The startup’s SaaS solution incorporates AI-based tools to help operators with workload staff planning recommendations and to solve maintenance issues, allowing them to comply with ever-evolving cleaning standards.

Furthermore, Spectaflow’s technology integrates with vacation rental and hotel property management service provider marketplaces, as well as providing a white label solution to enterprise PMS system solution brands. Since its founding in 2019, the company has grown to reach more than 100 hotels in five countries in its client base.

The company also using artificial intelligence to help hotels with staff planning recommendations in advance.

Petur Orri Saemundsen, co-founder and CEO of Spectaflow, said: “Spectaflow focuses on solving the complexities of managing deskless workforces in hotel and vacation rental operations, some of the most challenging and time-consuming aspects of hospitality management.

“Through smart integrations with existing systems and leveraging our AI for predictive planning, Spectaflow mitigates staffing challenges, interdepartmental miscommunications and improves cleaning and maintenance workflows for significantly improved guest services and experiences,” he added.

Svana Gunnarsdottir, managing director of Frumtak Ventures, says: “Frumtak invests in companies that create compelling solutions to modernise critical business operations across a variety of global industries and Spectaflow is no exception.”