Spangle, the AI-powered e-commerce startup founded by former Bolt CEO Maju Kuruvilla, has secured $15 million in Series A funding, tripling its valuation to $100 million. The round was led by NewRoad Capital Partners, marking a significant vote of confidence in the company's vision for personalized online shopping experiences.

The all-equity Series A round follows a $6 million seed round raised over a year ago, which valued Spangle at $30 million pre-money. With participation from Madrona, DNX Ventures, Streamlined Ventures, and strategic angel investors, Spangle's total funding now stands at $21 million. This fresh capital injection will fuel the company's efforts to expand its platform and onboard more enterprise clients.

Spangle's emergence comes at a pivotal time for the retail industry. The way consumers discover and purchase products online is rapidly evolving, with AI tools, social platforms, and sophisticated recommendation engines playing an increasingly influential role. Retailers are grappling with the challenge of capturing consumer attention amidst this fragmented landscape. Spangle aims to address this challenge by providing retailers with software that personalizes the shopping experience in real-time. The platform leverages AI to generate product recommendations and dynamically adjust website layouts based on individual shopper behavior and context.

Maju Kuruvilla, leveraging his experience at the helm of Bolt, founded Spangle to empower retailers to create more engaging and personalized online experiences. Since launching from stealth mode in March of last year, Spangle has already secured nine enterprise customers, including prominent fashion retailers like Revolve, Alexander Wang, and Steve Madden. These retailers collectively represent a substantial volume of online sales, underscoring the potential impact of Spangle's technology.

Looking ahead, Spangle is poised to capitalize on the growing demand for AI-driven personalization in e-commerce. The company's ability to attract significant funding and secure high-profile clients suggests a promising future. As retailers continue to seek innovative solutions to enhance the online shopping experience, Spangle is well-positioned to become a key player in the evolving e-commerce landscape.