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For The Development Of Hotel Management Solution The Saas Startup Spectaflow Nets 1.7M Euro Funding

January 05, 2022 | 3 minutes read

Reykjavik-based SaaS startup Spectaflow has gathered post-seed funding of 1.7 million Euros. It gives vacation and hotel operators an integrated SaaS solution. 

The integration of technology with the hospitality industry is not something new. The whole point of this combination is to improve the travel and hospitality experience for the customers. By streamlining the day-to-day operations, the technology is making the industry efficient and more lucrative for the economies of respective countries.

The ease and convenience bestowed by the inculcation of technology has also caused the exponential rise of travel software and mobile apps.  And this is also one of the key reasons that startups related to travel and hospitality are gathering huge funding. As of today, the startup Spectaflow for its solution specifically tailored to optimise cleaning and maintenance workflows has raised 1.7 million Euros in hotels and vacation rentals.

The funding round was led by Frmutak Ventures, with the inclusion of its existing investors, and is on top of investments made by the Icelandic New Venture Fund, and Blue Lagoon Founder and CEO Grimur Saemundsen.

Spectaflow offers a wide range of tools that allows the management teams to bid farewell to the messy concoction of emails, chats, and spreadsheets. The startup gives its users a real-time dashboard fully integrated with all the necessary operations associated with routine management operations. The young SaaS startup also provides an overview of tasks requiring immediate attention thus enabling the staff to immediately report any issues.

In return, increasing communication and bringing transparency within the teams. The inclusion of its highly productive AI tools can also be used for roaster planning allowing better shift management.

With 2022 looking better for the travel and tourism industry, the startup aims the expansion of its services. Already 100 hotels in five countries using its services, the company will offer its own branded solution through hotel and management service provider marketplaces. Its freemium model allows hotels, hospitality providers, and vacation rentals of all sizes to access features present on its platform. Its transparent billing is determined by the number of rooms and event space inventory.

In 2019 the Spectaflow was founded by serial entrepreneurs Petur Orri Saemundsen, Erlendur Steinn Gudnason, and Frans Veigar Gardarsson. 

 Co-founder and CEO of Spectaflow Petur Orri Saemundsen said:

“Spectaflow focuses on solving the complexities of managing deskless workforces in the hotel and vacation rental operations, some of the most challenging and time-consuming aspects of hospitality management.”

Regarding the technology used by Spectaflow Saemundsen further said:

“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.”

Europe is a budding region of travel startups as in December last year a travel tech startup Campanyon raised 1.5 Euros. Campanyon enables adventurers and travelers to explore and book a variety of experiences from camping booking sites to cabins and tents.  Other than Europe, the USA  is also a hotspot of travel tech startups as in December last year California-based startup Upaway launched the first on-demand travel support Concierge to tackle trip chaos for holiday travelers.

It is no doubt that mobile apps and software related to travel and tourism are completely transforming the landscape. And this trend seems to continue throughout this new year too.

Story Credits: EU startups