Spangle, led by former Bolt CEO Maju Kuruvilla, has raised $15 million in an all-equity Series A round, elevating its valuation to $100 million. This milestone follows a successful $6 million seed round at a $30 million pre-money valuation and brings the company’s total funding to $21 million with the backing of NewRoad Capital Partners, Madrona, DNX Ventures, Streamlined Ventures, and strategic angel investors.
Revolutionizing E-Commerce With AI
The rise of AI tools and advanced recommendation engines is transforming online retail. As consumers increasingly rely on digital platforms for product discovery, Spangle positions itself at the forefront by offering software that personalizes shopping experiences in real time. Leveraging its proprietary ProductGPT model, the platform dynamically generates product recommendations based on user behavior, search queries, and referral sources, ensuring that every visitor encounters a fresh, tailored retail environment.
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Impressive Growth And Enterprise Adoption
Since emerging from stealth mode in March last year, Spangle has secured nine enterprise clients, including leading fashion retailers like Revolve, Alexander Wang, and Steve Madden, whose collective online sales reach approximately $3.8 billion. The platform has achieved a 57% month-over-month increase in traffic, with users expanding their adoption of its features. Notably, Revolve reports a 60% improvement in return on ad spend and a 50% increase in revenue per visit, underscoring the business impact of Spangle’s innovative approach.
Driving Real-Time, Data-Driven Personalization
At the heart of Spangle’s offering is its ability to replace static, pre-built pages with dynamic, AI-driven interfaces. By routing shoppers to a blank page that is populated in real time based on contextual data, Spangle empowers retailers to adapt instantaneously to evolving consumer needs. This methodology not only enhances user engagement but also optimizes key performance metrics, effectively transforming traditional e-commerce strategies.
Strategic Vision And Future Expansion
Drawing from his extensive experience at Bolt and a decade-long tenure at Amazon, Kuruvilla has leveraged his deep industry insights to build a platform geared towards sustainable growth and technological innovation. Alongside co-founder and CTO Fei Wang, a former Amazon principal engineer with notable contributions at Saks Off 5th, Spangle is poised to become a modern, AI-native commerce system. With plans to further invest in research and development, expand its engineering team, and scale its sales operations, Spangle is well positioned to meet the evolving demands of digital retail.
Embracing The Future Of Commerce
As AI continues to reshape how consumers interact with digital content and make purchasing decisions, platforms like Spangle offer a glimpse into the future of e-commerce. By harnessing the power of real-time data and machine learning, Spangle provides brands with the tools necessary to not only meet but exceed the expectations of today’s digitally savvy shopper.
