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Saturday, June 25, 2022

Icelandic SaaS startup raises €1.7 million in post-seed round

 Spectaflow, an integrated SaaS solution provider for hotel operations, today announced it raised €1.7 million in a post-seed round led by Frumtak Ventures, with participation from existing investors. This round builds on earlier investments raised from 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 round, the company has raised a total of €2.5 million from investor and grant funding to date.


Spectaflow was founded in 2019 by serial entrepreneurs Petur Orri Saemundsen, Erlendur Steinn Gudnason and Frans Veigar Gardarsson. The company already has one hundred hotels in five countries using the software for management of their room and event space operations.

“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,” says Petur Orri Saemundsen, Co-founder and CEO of Spectaflow. “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.”

Spectaflow estimates that 15% of hotel cleaning staff’s time is spent just trying to find which rooms to clean. The solution integrates with property management software, hotel booking systems, to enable staff to easily see the next room on their task list, and identify, record and report room and maintenance issues as they work, by instant upload, from their mobile devices. Additionally, Spectaflow’s AI calculates total workload and assists hotel operators with staff planning recommendations weeks in advance, all of which leads to better shift management and reporting for compliance with evolving international cleaning standards.

“Frumtak invests in companies that create compelling solutions to modernise critical business operations across a variety of global industries and Spectaflow is no exception,” says Svana Gunnarsdottir, Managing Director of Frumtak Ventures. “We are privileged to lead this round, with high-caliber co-investors, in this exceptional founding team.”

Spectaflow will offer both its own branded solution through hotel and property management service provider marketplaces, as well as white label under enterprise PMS system solution brands. Its freemium model enables hotels, vacation rentals and other hospitality providers of all sizes to access features of its platform. Spectaflow’s transparent billing is determined by the number of rooms and event space inventory.

Jan Ameri
Jan Ameri
Entrepreneur-by-heart – and by actions since 1998. Being an expert in spotting new opportunities and creating new concepts, Jan has been a partner or co-founder in seven different companies in various industries. In the early 2000’s he was pioneering some of the very first WAP, SMS, and interactive TV based wireless games and fantasy sports games in the Nordic countries. Jan loves to watch Shark Tank and The Profit in his free time. And he is an FC Barcelona fan.

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