Information Technology
SpotDraft Secures $54 Million To Lead AI Contract Lifecycle Management
SpotDraft is an AI-driven contract lifecycle management (CLM) platform built for in-house legal teams. The tool manages all aspects of contracting, including AI-assisted redlining, e-signatures, intelligent contract repository, third-party papers, clickwrap agreements and more.
"We believe 2025 will be an inflection point for team SpotDraft," said Shashank Bijapur , CEO of 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's CLM platform has made a huge impact on our legal team's time, workflows, and efficiencies, said Jonathan Franz , Head of Legal, Crunchbase.
Over and above its end-to-end CLM offering, the team is sharpening its focus on product enhancements and AI functionality. SpotDraft has launched products like VerifAI and ClickThrough which are consolidating SpotDraft's positioning as the preferred CLM partner for mid-market companies. With over 250 employees across its offices in Bengaluru and New York , SpotDraft is looking to further acquire key leadership talent in alignment with its growth strategy.
Shashank Bijapur , an alumnus of Harvard Law School and Madhav Bhagat , alumnus of Carnegie Mellon co-founded the company in 2017. Prior to this, Shashank practiced law in New York and Madhav was with Google. Augmenting the leadership team, Rohith Salim , Madhav's batchmate at Carnegie Mellon joined as Chief Product Officer (CPO), and most recently, Akshay Verma , legal industry veteran, ex-Meta and Coinbase came onboard as Chief Operating Officer (COO).
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.
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To learn more about SpotDraft, visit www.SpotDraft.com .
SpotDraft is headquartered in Bengaluru, India with an office in New York, USA . Over 400 organizations and cross-functional teams across the world use SpotDraft to optimize time-consuming processes, refocus on strategic outcomes and maximize their impact through a contract lifecycle.
SpotDraft was featured in the list in 2024 and . The SpotDraft mission is supported by prominent investors, including including Xeed Ventures (formerly 021 Capital), Xeed VC, Arkam Ventures, Prosus Ventures, Premji Invest, Riverwalk Capital and esteemed angel investors like Girish Mathrubootham and Satyen Kothari .
Annapoorna Ramanath
PR and Communications
annapoorna@spotdraft.com
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