SpotDraft, a contract lifecycle management (CLM) platform, has successfully raised $54 million in its Series B funding round. The investment was led by Vertex Growth Singapore and Trident Partners, with additional participation from Xeed VC, Arkam Ventures, Prosus Ventures, and Premji Invest.
The company intends to leverage this capital to advance its AI-powered products and strengthen its market footprint. This funding round follows SpotDraft’s $26 million Series A raise in March 2023.
SpotDraft specializes in providing contract management solutions tailored for in-house legal teams. Its platform offers a suite of features, including AI-assisted redlining, e-signatures, contract repositories, and third-party paper management, aiming to streamline legal operations and enhance efficiency.
“We believe 2025 will be an inflection point for team SpotDraft,” said Shashank Bijapur, co-founder and CEO. “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.”
With a workforce exceeding 250 employees across its Bengaluru and New York offices, SpotDraft is now focused on acquiring top-tier leadership talent to align with its ambitious growth trajectory.
