Spangle, an AI e-commerce startup founded by former Bolt CEO Maju Kuruvilla, closed an all-equity Series A that values the company at $100 million post-investment. The round was led by NewRoad Capital Partners, with participation from Madrona, DNX Ventures, Streamlined Ventures, and strategic angel investors. Spangle is targeting a specific pain point for online retailers: shoppers increasingly arrive with context shaped by AI tools, social platforms, and recommendation engines, and that context often gets lost once they hit a standard product grid or category page.
Spangle’s pitch is to replace those static entry points with a “blank page” that gets built in real time. Using a proprietary model called ProductGPT, the platform generates product selections, recommendations, and on-page content based on signals like referral source, searches and clicks, and how similar visitors behaved. Since emerging from stealth in March 2025, Spangle has signed nine enterprise customers, including Revolve, Alexander Wang, and Steve Madden, and reported 57% month-on-month growth in traffic flowing through its platform while customers expand usage.
Kuruvilla has pointed to early performance lifts for brands using Spangle—around 50% higher revenue per visit, 2x return on ad spend, and a 15% increase in average order value—and said the product is designed to adapt experiences automatically by training on each retailer’s catalog and performance data.
Kuruvilla founded Spangle in 2024 alongside CTO Fei Wang, a former Amazon principal engineer who worked on Alexa and customer service technologies and later served as CTO at Saks Off 5th. With six full-time employees, Spangle is using AI to keep the team small while going after enterprise accounts, and plans to use the Series A to push further on R&D, expand engineering, and build out sales as shopping behavior shifts toward chatbot- and agent-mediated discovery.
