Spangle, which makes use of generative AI to let manufacturers create personalised product pages primarily based on how shoppers interact with their digital adverts, introduced on Thursday that it raised a $15 million Sequence A funding spherical. The spherical was led by tech-focused enterprise agency NewRoad Capital Companions and values the two-year-old startup at $100 million.
Spangle, whose shoppers embody Revolve, Steve Madden, Alexander Wang and model administration agency WHP World, was based by former Amazon and Bolt govt Maju Kuruvilla. The corporate takes a lower of gross sales generated utilizing its software program, and stated its model and retail companions have seen as much as a 50 p.c improve in conversion utilizing its software program.
Spangle will use the funding to enhance its AI fashions and rent extra engineers.
The corporate beforehand introduced a $6 million seed spherical final March, led by Madrona Enterprise Group.
Be taught extra:
The Vogue AI Startups to Watch
BoF highlights 17 AI-powered startups which have raised greater than $400 million within the final 5 years by providing design, operation and procuring companies that promise to assist manufacturers and retailers scale back prices and improve innovation.
