SpotDraft, a New York–based AI-powered contract lifecycle management (CLM) platform, has raised $8 million in a Series B extension.
Investors
The round was led by Qualcomm Ventures, with participation from existing investors, including Vertex Growth Singapore, Trident Growth Partners, Xeed VC, Arkam Ventures, and Prosus Ventures.
Qualcomm Ventures is the investment arm of Qualcomm Incorporated. Founded in 2000, Qualcomm Ventures is a corporate venture capital fund with 150+ active portfolio companies. It provides capital to early- to growth-stage startups developing technologies aligned with Qualcomm’s core market priorities.
SpotDraft Use of Funds
The funding will deepen SpotDraft’s AI and product capabilities, expand its enterprise presence across the Americas, EMEA, and India, and accelerate adoption of on-device AI for secure contract lifecycle management.
About SpotDraft
Founded by Shashank Bijapur and Madhav Bhagat, SpotDraft is an AI-powered contract lifecycle management platform that combines intuitive workflows, business-friendly design, and AI-powered contract intelligence to help legal teams reduce turnaround times, scale operations, and demonstrate measurable business impact. SpotDraft's VerifAI, an AI-powered contract review tool, runs entirely on-device, including embeddings, clause extraction, risk scoring, and applying edits directly on Snapdragon processors. SpotDraft is headquartered in Bengaluru, India, with an office in New York, USA. Its customer base includes Apollo.io, Panasonic, Zeplin, and Whatfix, among others.
Funding Details
Company: SpotDraft
Raised: $8.0M
Round: Series B Extension
Funding Date: January 2026
Lead Investor: Qualcomm Ventures
Additional Investors: Vertex Growth Singapore, Trident Growth Partners, Xeed VC, Arkam Ventures, Prosus Ventures
Company Website: https://www.spotdraft.com/
Software Category: AI Contract Lifecycle Management / On-Device Enterprise AI
Source: https://www.businesswire.com/news/home/20260126696119/en/