Spectaflow, a Reykjavik, Iceland-based integrated SaaS solution provider for hotel operations, raised $1.9 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/CEO, Blue Lagoon; Hilmar Veigar Petursson, CEO, CCP Games; and Thor Fridriksson, founder, TeaTime and Plain Vanilla Games.
With this post-seed round, the company has raised a total of $2.8 million from investors and grant funding to date.
Round: Seed Round
Funding Month: January 2022
Lead Investors: Frumtak Ventures
Additional Investors: Icelandic New Business Venture Fund, Grimur Saemundsen, Hilmar Veigar Petursson, and Thor Fridriksson
Company Website: https://spectaflow.com/
Software Category: SaaS solution provider for hotel operations
About the Company: Spectaflow was founded in 2019 by serial entrepreneurs Petur Orri Saemundsen, Erlendur Steinn Gudnason, and Frans Veigar Gardarsson. Spectaflow, an integrated SaaS solution provider for hotel operations, will offer both its own branded solution through hotel and property management service provider marketplaces, as well as a 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. The company already has one hundred hotels in five countries using the software for the management of their room and event space operations.