India | January 27, 2026: SpotDraft, the leading AI‑powered contract lifecycle management (CLM) platform, has raised $8 million from Qualcomm Ventures in a strategic Series B extension. This follows SpotDraft’s $56 million Series B round in February 2025 and highlights accelerating enterprise demand for secure, high‑performance legal AI that runs directly on‑device.
The funding will be used to deepen product and AI capabilities and expand SpotDraft’s enterprise presence across the Americas, EMEA, and India. The partnership extends beyond capital, with SpotDraft featured at Qualcomm Technologies’ Snapdragon Summit 2025, showcasing fully on‑device contract review running on Snapdragon® X Elite laptops without cloud connectivity, validating the viability of privacy‑first AI for enterprise legal operations.
Shashank Bijapur, Co‑Founder & CEO, SpotDraft, said: “Legal teams handle some of the most sensitive business information, yet most AI tools still require sending data to external cloud models. SpotDraft runs core contract intelligence workflows locally on device, giving legal teams AI capabilities without compromising performance, privacy, or control.”
Quinn Li, SVP, Qualcomm Technologies, Inc. & Global Head of Qualcomm Ventures, added: “SpotDraft’s ability to deploy proprietary models securely on‑device using Snapdragon platforms represents a meaningful advancement for a privacy‑critical industry. We see strong potential for this technology across the legal ecosystem.”
Madhav Bhagat, Co‑Founder & CTO, SpotDraft, noted: “We deliberately separate what needs to run close to the document from what benefits from the cloud. Optimizing workflows for the Qualcomm® Hexagon™ NPU enables low‑latency, private AI experiences without compromising accuracy.”
Product Innovation
- VerifAI, SpotDraft’s AI‑powered contract review tool, runs entirely on‑device.
- Embeddings, clause extraction, risk scoring, and edits execute locally on Snapdragon processors.
- Internet connectivity is only required for login, sharing, and license checks.
- Delivers low‑latency, private AI experiences for enterprise legal teams.
Growth Momentum
- Raised $92 million to date from investors including Qualcomm Ventures, Vertex Growth Singapore, Trident Growth Partners, Xeed VC, Arkam Ventures, and Prosus Ventures.
- Achieved 100% YoY growth in customer acquisitions.
- Contract volumes grew 173% YoY.
- Nearly 50,000 monthly active users processing over 1 million contracts annually.
- Customer base includes Apollo.io, Panasonic, Zeplin, and Whatfix.
- Recognized in Fast Company’s Most Innovative Companies and Forbes Asia’s 100 to Watch.
About SpotDraft
SpotDraft is an AI‑powered contract lifecycle management platform that combines intuitive workflows, business‑friendly design, and AI‑driven contract intelligence to help legal teams reduce turnaround times, scale operations, and deliver measurable business impact. Founded by Shashank Bijapur and Madhav Bhagat, SpotDraft has been recognized by Fast Company’s Most Innovative Companies 2024 and Forbes Asia’s 100 to Watch.
Website: www.spotdraft.com
