CLM Platform SpotDraft Raises $54 Mn Series B Funding

SpotDraft, a CLM platform that helps in-house legal teams manage their contract ecosystems, has raised $54 million in its Series B funding round led by Vertex Growth Singapore and Trident Partners.

Existing investors Xeed VC, Arkam Ventures, Prosus Ventures and Premji Invest have also participated in this funding round. 

The startup will use the new funds to expand its market and hire key leaders. Some of the proceeds will also go toward improving its products and increasing AI integration.

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“We believe 2025 will be an inflection point for team SpotDraft,” said Shashank Bijapur, CEO of SpotDraft. “Apart from market expansion and talent growth, we’re strongly committed to deepening the use of AI in the product to help legal teams unlock efficiencies and drive innovation.”

“We see potential in SpotDraft being the first in class CLM solution globally. SpotDraft’s product vision and go-to-market strategy is anchored on a deep understanding of enterprise legal teams’ painpoints and the unwavering commitment to delivering a world-class solution in enabling faster and more accurate contract processes. We‘re excited to join and support SpotDraft as they continue to leverage AI to transform the legal tech landscape, " said James Lee, Managing Partner, Vertex Growth. 

In March 2023, SpotDraft raised $26 million in its Series A round of funding round.

About SpotDraft 

Founded in 2017 by Shashank Bijapur, Madhav Bhagat and Rohith Salim, SpotDraft is headquartered in Bengaluru, India with an office in New York, USA. SpotDraft is an AI-driven contract lifecycle management (CLM) platform designed for in-house legal teams. It handles everything from contract redlining and e-signatures to managing third-party documents and clickwrap agreements.

Beyond its core contract management features, SpotDraft is enhancing its AI capabilities and products. It has introduced tools like VerifAI and ClickThrough, strengthening its position as the go-to CLM solution for mid-market companies. With over 250 employees in Bengaluru and New York, the company is also expanding its leadership team to support its growth.

More than 400 organizations worldwide use SpotDraft to streamline contract processes, save time, and focus on strategic goals.

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