AI-Powered CLM Platform SpotDraft Raises USD 54 Mn in Series B Funding With this fresh capital, the Bengaluru-based company aims to accelerate its AI-driven product development and expand its global market presence.
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SpotDraft, an AI-driven contract lifecycle management (CLM) platform, has raised USD 54 million in its Series B funding round led by Vertex Growth Singapore and Trident Partners.
The round also saw participation from Xeed VC, Arkam Ventures, Prosus Ventures, and Premji Invest. With this fresh capital, the company aims to accelerate its AI-driven product development and expand its global market presence.
Founded in 2017 by Shashank Bijapur and Madhav Bhagat, SpotDraft has rapidly established itself as a leader in the CLM space. Its AI-powered CLM platform is designed to optimise legal operations for in-house teams. Its offerings include AI-assisted redlining, e-signatures, intelligent contract repositories, third-party document management, and clickwrap agreements.
More than 400 organisations worldwide rely on SpotDraft to streamline their contract workflows, improve efficiency, and minimise risks.
Augmenting its leadership team, Rohith Salim, joined as Chief Product Officer (CPO), while Akshay Verma, recently took on the role of Chief Operating Officer (COO).
CEO Shashank Bijapur said, "We believe 2025 will be a pivotal year for SpotDraft. Our focus remains on market expansion, hiring top talent, and integrating AI deeper into our platform to help legal teams drive innovation."
SpotDraft's impact has been evident across industries, with legal teams benefiting from its intuitive and automated contract solutions. Jonathan Franz, Head of Legal at Crunchbase, praised the platform's efficiency, stating, "SpotDraft has significantly improved our legal workflows, helping us automate high-volume contracts and accelerate deal closures."
The company continues to strengthen its product portfolio, recently launching VerifAI and ClickThrough, enhancing its positioning as a preferred CLM partner for mid-market companies. With over 250 employees across its Bengaluru and New York offices, SpotDraft is actively hiring leadership talent to support its ambitious growth plans.
James Lee, Managing Partner at Vertex Growth, stated, "SpotDraft's vision, combined with its AI-driven approach, positions it as a global leader in CLM solutions. We're excited to support their journey in transforming legal tech."
As the company scales, its commitment to AI-powered contract management is set to redefine how legal teams navigate the complexities of contract workflows, reinforcing SpotDraft's position as a market leader.
