SpotDraft Raises USD 54 Million in Funding Led by Vertex Growth
Existing investors Xeed VC, Arkam Ventures, Prosus Ventures, and Premji Invest also participated in this round.
"SpotDraft has raised USD 54 million in Series B funding," the company said on Wednesday.
SpotDraft is an AI-driven contract lifecycle management (CLM) platform built for in-house legal teams.
The company said SpotDraft's fresh funding will accelerate the company's global expansion and drive the advancement of its AI-powered product innovation.
"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 CEO Shashank Bijapur said.
Bijapur, an alumnus of Harvard Law School and Madhav Bhagat, alumnus of Carnegie Mellon, co-founded the company in 2017.
SpotDraft had raised USD 26 million in the previous funding round in March 2023.
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