Spangle AI E-Commerce Startup Hits $100M Valuation
Former Bolt CEO Maju Kuruvilla’s new AI-powered e-commerce venture, Spangle, has hit a $100 million valuation following a $15 million Series A funding round. If you’re wondering how a stealth startup grew this fast, the answer lies in its real-time AI engine that reimagines how shoppers discover products online—especially as traditional category pages lose relevance in the age of TikTok, Instagram, and AI-driven discovery.
Led by NewRoad Capital Partners, the all-equity round brings Spangle’s total funding to $21 million, just over a year after its $6 million seed round. Investors like Madrona, DNX Ventures, and Streamlined Ventures returned, signaling strong confidence in Kuruvilla’s vision: to help retailers personalize the shopping journey at the moment it matters most.
The End of Static Category Pages?
Spangle’s core innovation challenges a decades-old e-commerce norm. Instead of sending shoppers to generic, pre-built product or category pages, brands now route traffic to “blank” landing pages. Spangle’s proprietary AI model—dubbed ProductGPT—instantly populates these pages with dynamic layouts, product recommendations, and contextual merchandising based on real-time signals.
Where the shopper came from (a TikTok ad, a Google search, an influencer link), what they clicked, and even their browsing behavior all inform the AI’s output. The result? A hyper-personalized storefront that feels less like a catalog and more like a personal stylist.
Enterprise Traction in Record Time
Since emerging from stealth in March 2025, Spangle has already onboarded nine enterprise clients, including fashion heavyweights like Revolve, Alexander Wang, and Steve Madden. Combined, these brands generate roughly $3.8 billion in annual online sales—a massive validation of Spangle’s enterprise-ready platform.
Kuruvilla, who previously led Bolt through its rapid scaling phase, says retailers are desperate for tools that adapt to the fragmented discovery landscape. “Shoppers aren’t starting on your homepage anymore,” he told us. “They’re landing from a viral video or a social ad. If your first page doesn’t speak directly to that intent, you’ve lost them.”
Explosive Growth Metrics
The numbers back up the buzz. Spangle reports a 57% month-over-month increase in traffic flowing through its platform. Even more telling: every existing customer has expanded their usage of the software, suggesting high retention and growing dependency.
In Q4 2025, the startup quadrupled its annualized revenue—though it hasn’t disclosed exact figures. That kind of growth, coupled with a tripling of valuation in under 14 months, puts Spangle among the fastest-rising AI-commerce startups in the U.S.
Why Retailers Are Betting Big on AI Personalization
The shift isn’t just about convenience—it’s about survival. With rising customer acquisition costs and declining conversion rates, brands are turning to AI to boost engagement and average order value. Traditional e-commerce platforms, built for static navigation, struggle to keep pace with today’s fluid, intent-driven shopping paths.
Spangle’s real-time approach tackles this head-on. By reconstructing the landing experience for each visitor, it increases relevance and reduces bounce rates. Early adopters report higher engagement and conversion lift, though Spangle remains tight-lipped about specific case studies.
The Team Behind the Tech
Kuruvilla’s experience at Bolt—a one-click checkout unicorn—gave him a front-row seat to the evolution of digital commerce. At Bolt, he focused on streamlining the final steps of the purchase funnel. Now, with Spangle, he’s targeting the very beginning: the discovery-to-engagement phase.
The Seattle-based team includes AI engineers from Amazon, personalization experts from Netflix, and e-commerce veterans from Shopify and Farfetch. This blend of retail and deep-tech talent is key to Spangle’s dual focus on scalability and user experience.
ProductGPT: The Secret Sauce
Unlike generic recommendation engines, Spangle’s ProductGPT doesn’t just suggest “similar items.” It interprets the full context of a visit—including referral source, device type, geolocation, and historical behavior—to generate a bespoke page layout.
Think of it as a digital visual merchandiser that works 24/7, rearranging the “store” for every single visitor. The AI even adjusts visual hierarchy, banner placement, and product groupings to match the shopper’s inferred intent.
A Strategic Bet on the Future of Shopping
Investors see Spangle as more than a SaaS tool—it’s a potential infrastructure layer for the next generation of e-commerce. As AI reshapes how people find products, the brands that win will be those that can dynamically respond to shifting intent.
NewRoad Capital’s lead investment reflects this belief. “Maju and team are solving a foundational problem,” said a partner at the firm. “The old playbook of static product pages is obsolete. Spangle is building the new one.”
What’s Next for Spangle?
With fresh capital, Spangle plans to expand its engineering team, deepen its AI models, and onboard more global retailers across fashion, beauty, and home goods. International expansion is also on the roadmap, with early interest from European and Middle Eastern brands.
Kuruvilla remains focused on product-led growth. “We’re not trying to sell a dashboard,” he said. “We’re selling outcomes—better relevance, higher conversion, stronger loyalty. The tech has to prove itself in live traffic, every single day.”
Spangle’s rapid ascent reflects a broader shift in e-commerce: the move from transactional websites to intelligent, adaptive experiences. As AI becomes embedded in every layer of the customer journey, startups that bridge intent and action—like Spangle—will define the next decade of digital retail.
For now, Kuruvilla and his team are staying heads-down, iterating fast, and letting their enterprise clients do the talking. With $100 million in valuation and a clear product-market fit, Spangle isn’t just riding the AI wave—it’s helping build the surfboard.
