Former Bolt CEO’s AI Startup Spangle Triples Valuation to $100 Million

Spangle, the Seattle-based AI startup founded by former Bolt CEO Maju Kuruvilla, has successfully secured $15 million in a Series A funding round. This latest investment triples the company’s valuation to $100 million just a year after its initial seed launch. NewRoad Capital Partners led the round, with participation from Madrona, DNX Ventures, and Streamlined Ventures.

The startup focuses on solving the "post-click" problem by using a proprietary AI model called ProductGPT. Instead of sending shoppers to generic product pages, Spangle generates a personalized storefront in real time based on a visitor's specific search intent and behavior. This approach replaces static layouts with dynamic content tailored to the exact moment a shopper arrives from social media or AI search tools.

Kuruvilla launched the company alongside CTO Fei Wang, a former Amazon principal engineer and Saks Off 5th executive. Their combined experience at Amazon and the checkout unicorn Bolt shaped the focus on building fundamental infrastructure rather than minor interface tweaks. They describe the platform as an agentic infrastructure layer for the next era of retail.

Enterprise adoption has been swift, with nine major fashion retailers including Revolve, Alexander Wang, and Steve Madden already using the software. These clients collectively manage about $3.8 billion in annual online sales. Early data indicates that brands using Spangle see a 50 percent increase in revenue per visit and a doubling of their return on ad spend.

The fresh capital will be used to expand the engineering team and scale sales operations to meet rising demand. Spangle currently operates with a lean team of six employees, illustrating how modern AI tools allow software companies to scale efficiently. The founders plan to focus on research and development to keep pace with the rapid shift toward AI-mediated shopping.