SpotDraft, an AI-driven contract lifecycle management (CLM) platform that assists in-house legal teams in managing their contract ecosystems, has secured $54 million in Series B funding. Vertex Growth Singapore and Trident Partners were the primary investors. Existing investors Xeed VC, Arkam Ventures, Prosus Ventures, and Premji Invest were also involved in this round.
SpotDraft's AI-powered tool handles every aspect of contracting. This includes AI-assisted redlining, e-signature, an intelligent contract repository, third-party documents, and clickwrap agreements.
"We believe 2025 will be an inflection point for team SpotDraft," said SpotDraft CEO Shashank Bijapur. "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's CLM platform has made a huge impact on our legal team's time, workflows, and efficiencies," said Crunchbase's head of legal, Jonathan Franz. "It is easy to implement and gives us the confidence we need to manage reviews, automate high-volume contracts, close deals faster, and navigate diligence."
In addition to its comprehensive CLM offering, the team is focusing on product enhancements and AI functionality. SpotDraft has introduced products such as VerifAI and ClickThrough, cementing its position as the preferred CLM partner for mid-market businesses. With over 250 employees in Bengaluru and New York, SpotDraft is looking to add key leadership talent in line with its growth strategy.
Shashank Bijapur, a Harvard Law School alumnus, and Madhav Bhagat, a Carnegie Mellon alumnus, founded the company together in 2017. Prior to this, Bijapur practised law in New York, and Bhagat worked for Google. Rohith Salim, Bhagat's Carnegie Mellon classmate, joined as chief product officer, and Akshay Verma, a legal industry veteran and former executive at Meta and Coinbase, was recently appointed as chief operating officer.
"We see potential in SpotDraft being the first-in-class CLM solution globally," said James Lee, managing partner at Vertex Growth. "We see potential in SpotDraft being the first-in-class CLM solution globally," said James Lee, managing partner at Vertex Growth. "SpotDraft's product vision and go-to-market strategy are anchored on a deep understanding of enterprise legal teams' pain points and an unwavering commitment to delivering a world-class solution in enabling faster and more accurate contract processes."
