Funding News: CLM Platform 'SpotDraft' raises $ 54 million in Series B Funding

Startup: SpotDraft

Founder: Shashank Bijapur

About us: SpotDraft is an end-to-end contract automation platform for cutting-edge companies.   It is the perfect co-pilot for your legal team that democratizes legal paperwork and speeds up the contract lifecycle.

Founded Year: 2017

Office: Bengaluru

Sector: Software Development

Funding Round: Series B

Investors: Vertex Growth Singapore and Trident Partners, with participation from existing investors Xeed VC, Arkam Ventures, Prosus Ventures, and Premji Invest.

SpotDraft, an AI-powered contract lifecycle management (CLM) platform for in-house legal teams, has raised $54 million in its Series B funding round.

SpotDraft streamlines contract management by offering AI-assisted redlining, e-signatures, an intelligent contract repository, third-party document handling, and clickwrap agreements. The platform aims to simplify and automate legal workflows, helping legal teams improve efficiency and accuracy in contract processing.

CEO Shashank Bijapur says, “Beyond market expansion and talent growth, we are committed to deepening AI integration in our product to help legal teams unlock efficiencies and drive innovation”.

Website: https://www.spotdraft.com/