Seattle-based AI commerce startup Spangle, founded by former Bolt CEO Maju Kuruvilla, has raised $15 million in a Series A round, pushing the company’s post-money valuation to $100 million.
The all-equity round was led by NewRoad Capital Partners, with participation from Madrona, DNX Ventures, Streamlined Ventures, and a group of strategic angel investors. The raise follows a $6 million seed round completed just over a year ago at a $30 million pre-money valuation, bringing Spangle’s total funding to $21 million.
Reinventing how shoppers discover products online
Spangle is built around a shift already reshaping digital commerce: consumers increasingly discover products through AI tools, social platforms, and recommendation engines before ever landing on a brand’s website. The company’s software helps retailers adapt to this reality by dynamically personalising on-site shopping experiences in real time.
Instead of directing users to static category or product pages, Spangle enables brands to send traffic to a flexible, AI-generated page. Using its proprietary ProductGPT model, the platform assembles product selections, layouts, and content on the fly based on signals such as traffic source, browsing behaviour, search intent, and patterns from similar shoppers.
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Early traction with enterprise retailers
Since exiting stealth in early 2024, Spangle has signed nine enterprise customers, including fashion brands Revolve, Alexander Wang, and Steve Madden. Combined, these retailers represent approximately $3.8 billion in annual online sales.
According to the company, traffic processed through Spangle’s platform has been growing by roughly 57 percent month over month, with all customers expanding their usage. Spangle also reported a fourfold increase in annualised revenue during the fourth quarter, though it did not disclose absolute figures.
Kuruvilla says brands using the platform are seeing close to a 50 percent lift in revenue per visit, a doubling of return on ad spend, and a 15 percent increase in average order value.
Built for an AI-mediated shopping future
Spangle trains its AI models on each retailer’s own catalogue and performance data, allowing shopping experiences to adapt continuously as behaviour shifts. This approach, Kuruvilla argues, prepares brands not only for human shoppers but also for AI-driven agents and chatbots increasingly used to search for and compare products.
The company’s vision reflects broader changes in commerce, including the rise of AI interfaces such as ChatGPT, the fragmentation of discovery channels beyond traditional platforms, and advances in AI that have dramatically reduced the cost and latency of real-time personalisation.
A small team with big ambitions
Founded in 2024 by Kuruvilla alongside CTO Fei Wang, Spangle currently operates with just six full-time employees. Wang previously worked on Alexa and customer service systems at Amazon before serving as CTO at Saks Off 5th.
With the new funding, Spangle plans to deepen investment in research and development, grow its engineering team, and build out its sales organisation as it targets additional enterprise retailers.
Kuruvilla says the goal is to move beyond incremental optimisation and provide brands with AI-native commerce infrastructure that can evolve as quickly as consumer behaviour itself.
