SpotDraft, a provider of an AI-driven contract lifecycle management (CLM) platform built for in-house legal teams, raised $54 million in Series B funding.
Vertex Growth Singapore and Trident Partners led the investment round with participation from Xeed VC, Arkam Ventures, Prosus Ventures, and Premji Invest.
SpotDraft said it intends to use the fresh funds for global expansion and drive the advancement of its AI-powered product innovation.
SpotDraft platform built for in-house legal teams – manages all aspects of contracting, including AI-assisted redlining, e-signatures, intelligent contract repository, third-party papers, clickwrap agreements, and more.
“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.”
Headquartered in Bengaluru, India, SpotDraft raised $26 million in its Series A round of funding in March 2023.