HomeFundingReykjavic-based Spectaflow raises €1.7 million for its hotel management software

Reykjavic-based Spectaflow raises €1.7 million for its hotel management software

Founded in 2019, Reykjavik-based Spectaflow has just raised an additional €1.7 million in post-seed funding for its solution specifically tailored to optimised cleaning and maintenance workflows in hotels and vacation rentals. 

The new funding was led by Frumtak Ventures, with participation from existing investors and is on top of investments made by the Icelandic New Business Venture Fund, Blue Lagoon Founder and CEO Grimur Saemundsen. 

With its integrated SaaS software, Spectaflow offers a platform tailored to optimise and improve the efficiency of hospitality operations management – making hotels and vacation property run more smoothly for both staff and guests alike. 

According to the founders, Petur Orri Saemundsen, Erlendur Steinn Gudnason, and Frans Veigar Gardarsson, hotel staff find 15% of their time is taken up with just simply trying to find which rooms they need to attend to, and which are ready for travel-weary guests to enjoy. 

Through its real-time, fully integrated room status dashboard, Spectaflow offers an alternative to the array of tools that are traditionally used for hotel organisation  – letting management teams bid farewell to a messy concoction of spreadsheets, emails and chats. The young SaaS startup offers the ability to have an overview of tasks needing down, as well as giving staff a space to instantly report any issues – bringing transparency and greater communication within teams. 

Through AI tools Spectaflow can also be used for insights into workload and staff planning, allowing for better shift management. 

With already 100 hotels in five countries using the service, and 2022 looking to (hopefully) be a better year for tourism, the young startup is well placed to expand this year with this new funding. 

Spectaflow will offer its branded solution through hotel and property management service marketplaces as well as white label under enterprise PMS system solution brands. Through having a freemium model, the platform is accessible to hospitality providers of all sizes. 

Patricia Allen
Patricia Allen
is the Head of Content at EU-Startups. With a background in politics, Patricia has a real passion for how shared ideas across communities and cultures can bring new initiatives and innovations for the future. She spends her time bringing you the latest news and updates of startups across Europe, and curating our social media.

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