Bengaluru, January 2026: SpotDraft, an AI-driven legal technology startup, has raised $8 million in a Series B extension round from Qualcomm Ventures.
The latest investment comes nearly a year after SpotDraft closed a $54 million Series B round in February 2025. Earlier, the company had raised $26 million in Series A funding in March 2023, reflecting sustained investor confidence in its growth trajectory and enterprise-focused product strategy.
Strengthening AI and Global Enterprise Expansion
SpotDraft plans to utilise the fresh capital to enhance its product roadmap and AI capabilities, while accelerating enterprise adoption across the Americas, EMEA, and India. The company is focusing on scaling its contract lifecycle management (CLM) platform among large organisations seeking secure, AI-powered legal workflows.
Founded by Shashank Bijapur and Madhav Bhagat, SpotDraft offers a privacy-first CLM platform designed specifically for enterprise use cases. Unlike traditional cloud-based AI systems, SpotDraft’s technology keeps sensitive legal documents on-device, reducing data exposure risks and addressing compliance concerns for large enterprises.
Privacy-First, On-Device AI Differentiation
SpotDraft’s AI tools are engineered to process and review contracts locally, without transmitting confidential information to external cloud-based AI models. This approach positions the company strongly amid growing enterprise concerns around data privacy, security, and regulatory compliance.
The startup recently showcased its on-device contract review capabilities at Qualcomm’s Snapdragon Summit 2025, where its AI models ran locally on Snapdragon X Elite laptops, demonstrating real-time contract analysis without cloud connectivity.
Strong Growth and Enterprise Traction
SpotDraft reported 100% year-on-year growth in customers, with contract volumes increasing 173% year-on-year. The platform currently serves nearly 50,000 monthly active users and processes over one million contracts annually, indicating deepening adoption among enterprise legal teams.
The company’s client base includes global and Indian enterprises such as Apollo.io, Panasonic, Zeplin, and Whatfix, highlighting its expanding footprint across technology, SaaS, and manufacturing sectors.
Financial Performance and Competitive Landscape
In FY25, SpotDraft’s revenue grew to ₹121.02 crore, up from ₹59.58 crore in FY24, driven by strong customer expansion and increased enterprise usage. However, the company’s losses widened to ₹121.43 crore in FY25, compared to ₹68.36 crore in the previous financial year, reflecting continued investments in product development and global growth.
SpotDraft operates in a competitive legaltech ecosystem, competing with platforms such as Legistify, Leegality, Sirion, and Vakilsearch, among others. Its emphasis on privacy-first, on-device AI is emerging as a key differentiator in the increasingly crowded CLM market.
Looking Ahead
As enterprises globally reassess AI adoption through the lens of data security and compliance, SpotDraft is positioning itself as a next-generation enterprise legal infrastructure platform. With backing from Qualcomm Ventures and a growing international presence, the startup aims to redefine how large organisations manage contracts securely at scale.
Ruchi Kumar is the associate editor at Entrepreneur News Network and TVW News India, where she leads editorial strategy, brand storytelling, and startup ecosystem coverage. With a strong focus on innovation, business, and marketing insights, he curates impactful narratives that spotlight India’s evolving entrepreneurial landscape.