Spectaflow raises 1.7 million euros in post-seed funding
Spectaflow, a Reykjavik, Iceland-based hotel operations solutions provider, has raised € 1.7 million in post-seed funding.
The round was led by Frumtak Ventures, with the participation of existing investors. Previous investments have been raised with the Icelandic New Business Venture Fund and angel investors including Grimur Saemundsen, Founder and CEO of Blue Lagoon, Hilmar Veigar Petursson, CEO of CCP Games, and Thor Fridriksson, Founder of TeaTime and Plain Vanilla Games. . With this post-seed funding round, the company has raised a total of € 2.5 million from investors and grants to date.
The company intends to use the funds to expand its operations and commercial reach.
Founded in 2019 by serial entrepreneurs Petur Orri Saemundsen, Erlendur Steinn Gudnason and Frans Veigar Gardarsson, Spectaflow provides a SaaS solution for hotel and vacation rental management focused on improving cleaning and maintenance workflows , office-less staff scheduling, and compliance with evolving international cleaning standards. The company already has around 100 hotels in five countries using the software to manage their room and event space operations.