A bit of late breaking news…..SpotDraft has raised $54m in Series B funding with Vertex Growth Singapore and Trident Partners as lead investors.
SpotDraft raised $26m in its Series A round of funding in March 2023. In the last two years, the company has seen ‘explosive growth in its revenue and customer base’, they said. The existing investors Xeed VC, Arkam Ventures, Prosus Ventures, and Premji Invest, have also participated in this round.
Shashank Bijapur, CEO of SpotDraft, said: ‘We believe 2025 will be an inflection point for team 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.’
SpotDraft has launched products such as VerifAI and ClickThrough as the aim to be a favoured CLM partner for mid-market companies. It now has over 250 employees across its offices in Bengaluru and New York.
James Lee, Managing Partner, Vertex Growth, concluded: ‘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.’