Core Viewpoint - Spangle, an AI e-commerce startup founded by former Bolt CEO Maju Kuruvilla, has raised $15 million in a Series A funding round, achieving a post-money valuation of $100 million [1][2] Funding and Growth - The Series A funding round was led by NewRoad Capital Partners, with total funding reaching $21 million, including previous seed funding of $6 million at a pre-money valuation of $30 million [1][2] - Since ending its stealth mode in March last year, Spangle has signed contracts with nine enterprise clients, including fashion retailers Revolve, Alexander Wang, and Steve Madden, with a combined online sales total of approximately $3.8 billion [2] Product and Technology - Spangle's core approach involves directing shoppers to a blank page, which is then filled in real-time by its proprietary AI model, ProductGPT, based on various signals such as shopper behavior and context [3] - The platform has seen a month-over-month traffic growth of about 57%, with all clients expanding their use of the software [2] Performance Metrics - Brands using Spangle have reported a nearly 50% increase in revenue per visit, a doubling of advertising return on investment, and a 15% increase in average order value [7] - Revolve's VP of performance marketing noted a 60% increase in advertising ROI and a 50% revenue growth per visit due to Spangle's software [7] Market Position and Trends - Spangle is positioned as a potential "Shopify" for AI-driven e-commerce, focusing on building infrastructure rather than incremental fixes [8] - The company aims to adapt to the trend of AI-mediated shopping experiences, as consumers increasingly rely on AI tools for product discovery [8] Future Plans - Following the new funding, Spangle plans to increase R&D investment, expand its engineering team, and build a comprehensive sales system [10]