Spectaflow, a Reykjavik, Iceland-based provider of hotel operations solutions, raised €1.7M in post-seed funding.
The round was led by Frumtak Ventures, with participation from existing investors. Earlier investments were 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 €2.5m from investor and grant funding to date.
The company intends to use the funds to expand operations and its business 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 property management, focused on improving cleaning and maintenance workflows, deskless staffing planning and compliance to evolving international cleaning standards. The company already has one hundred hotels in five countries using the software for management of their room and event space operations.
FinSMEs