Spangle, which uses generative AI to let brands create personalised product pages based on how consumers engage with their digital ads, announced on Thursday that it raised a $15 million Series A funding round. The round was led by tech-focused venture firm NewRoad Capital Partners and values the two-year-old startup at $100 million.
Spangle, whose clients include Revolve, Steve Madden, Alexander Wang and brand management firm WHP Global, was founded by former Amazon and Bolt executive Maju Kuruvilla. The company takes a cut of sales generated using its software, and said its brand and retail partners have seen up to a 50 percent increase in conversion using its software.
Spangle will use the investment to improve its AI models and hire more engineers.
The company previously announced a $6 million seed round last March, led by Madrona Venture Group.
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