Malachyte, founded by former Spotify employees Sidd Motwani, Ian Anderson, and Shivaditya Sinha, secured the funding to scale distribution and hire more product and commercial leaders. The company's platform utilizes a "two-headed Vector AI" system, similar to the one powering 90% of Spotify's recommendations, to predict shopper intent and personalize online retail experiences in real-time. The funding round was co-led by Bessemer Venture Partners and Gradient, with participation from Harpoon Ventures.