SpotDraft, a leading AI-powered contract lifecycle management (CLM) platform designed for in-house legal teams, has successfully raised $54 million in its Series B funding round.
The investment was led by Vertex Growth Singapore and Trident Growth Partners, with continued support from existing investors Xeed VC, Arkam Ventures, and Prosus Ventures. Investment banking firm Avendus provided advisory services for the transaction.
SpotDraft simplifies contract management by offering AI-assisted redlining, e-signatures, an intelligent contract repository, and seamless third-party integrations. With this fresh round of funding, the company plans to expand market reach, enhance product capabilities, and further integrate AI-driven efficiencies into its platform.
“2025 marks a pivotal year for SpotDraft,” said CEO Shashank Bijapur. “We are committed to expanding globally, strengthening our talent pool, and advancing AI adoption to drive efficiency and innovation for legal teams.”
SpotDraft’s solutions are transforming legal workflows for companies worldwide. “SpotDraft’s CLM platform has significantly improved our contract processes, saving time and streamlining operations,” said Jonathan Franz, Head of Legal at Crunchbase. “It’s easy to implement and accelerates deal closures while ensuring compliance.”
Beyond its comprehensive CLM offering, SpotDraft is investing in cutting-edge AI tools like VerifAI and ClickThrough, solidifying its position as the go-to solution for mid-market enterprises. With over 250 employees across offices in Bengaluru and New York, the company is also focused on expanding its leadership team to drive growth and innovation.
Co-founded in 2017 by Harvard Law alumnus Shashank Bijapur and Carnegie Mellon graduate Madhav Bhagat, SpotDraft has continued to scale at a rapid pace. Joining them in leadership roles are Rohith Salim as Chief Product Officer (CPO) and legal industry veteran Akshay Verma, formerly of Meta and Coinbase, as Chief Operating Officer (COO).
Having previously raised $26 million in its Series A round in March 2023, SpotDraft has experienced remarkable growth in both revenue and customer adoption. With its latest funding, the company is well-positioned to redefine how in-house legal teams manage contracts, reinforcing its mission to drive efficiency, automation, and AI-powered insights in the legal tech space
