SpotDraft has raised 8 million dollars in a Series B extension round, marking a significant milestone for the fast growing legal technology startup. The latest funding was led by Qualcomm Ventures and builds on the strong momentum the company achieved after its earlier Series B raise. With this round, SpotDraft continues to strengthen its position in the global market for AI powered contract management solutions.
The Bengaluru and New York based company focuses on helping in house legal teams and enterprises simplify complex contract workflows using artificial intelligence. Its platform enables faster contract creation, review, negotiation and management while reducing dependency on manual legal processes. As businesses deal with rising volumes of contracts and increasing compliance pressure, demand for such solutions has grown rapidly.
A key focus area for SpotDraft is privacy first artificial intelligence. The startup has been investing heavily in technology that allows advanced contract analysis to run directly on user devices instead of relying entirely on cloud based processing. This approach addresses growing concerns around data security and confidentiality, especially for legal teams handling sensitive information. The strategic backing from Qualcomm Ventures is expected to further accelerate this vision by supporting deeper integration with high performance computing hardware.
The fresh capital will be used to enhance product capabilities, scale enterprise adoption and expand the company’s presence across international markets including North America, Europe and India. SpotDraft also plans to invest in research and development to refine its AI models and deliver more accurate insights across different types of legal documents.
Founded by Shashank Bijapur and Madhav Bhagat, SpotDraft has seen strong growth in both customers and usage over the past year. The startup serves a wide range of clients from fast growing startups to large enterprises, reflecting the increasing acceptance of AI driven tools within corporate legal departments.
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