SpotDraft secures $8M strategic investment from Qualcomm Ventures to advance on-device legal AI. 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(R) 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(R) Hexagon(TM) 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.

SpotDraft has raised $8 million from Qualcomm Ventures in a Series B extension, nearly doubling its valuation to around $380 million from $190 million in February last year. The investment will fund the startup's on-device contract AI technology, which addresses privacy concerns in regulated legal workflows. The Bengaluru and New York-based company demonstrated its VerifAI tool running offline on Snapdragon X Elite-powered laptops at Qualcomm's summit, enabling contract review and editing without sending documents to the cloud. The technology applies legal playbooks directly in Microsoft Word whilst keeping sensitive data on local devices. SpotDraft now serves over 700 customers, up from 400 last year, processing more than 1 million contracts annually. The company has raised $92 million to date and expects 100% revenue growth in 2026.

SpotDraft strengthens leadership team to scale ai-powered CLM platform globally. Alon Waks named Chief Marketing Officer, Amit Sharma named Chief Financial Officer as company accelerates Americas, EMEA, and India expansion. SpotDraft today announced the appointments of Alon Waks as Chief Marketing Officer and Amit Sharma as Chief Financial Officer. These strategic hires underscore SpotDraft's commitment to scaling operations across the Americas, EMEA and India as the company builds on strong momentum following its $54 million Series B raise earlier this year. The dual appointments arrive as SpotDraft accelerates its momentum, achieving 100% year-over-year growth in customer acquisitions, serving customers globally, including Apollo.io, IPSY, Mixpanel, Oyster, and Panasonic. Both executives bring extensive experience scaling B2B SaaS companies, positioning SpotDraft to capitalize on rapidly growing demand for AI-powered contract intelligence. Waks brings more than 20 years of experience scaling B2B SaaS companies through high-growth phases and successful exits. He has led marketing at Kustomer, Bizzabo, CreatorIQ, LivePerson, and ZoomInfo, guiding companies through critical funding rounds and strategic milestones. His expertise spans enterprise demand generation, category creation, and international market expansion, positioning him to accelerate SpotDraft's growth as legal teams rapidly adopt AI-powered contract solutions. As CMO, Waks will spearhead SpotDraft's global marketing strategy, focusing on expanding brand presence in the Americas, EMEA, and Indian markets. He will lead demand generation, product marketing, and thought leadership initiatives to position SpotDraft as the definitive AI-powered CLM solution for modern legal teams. "I've spent my career helping B2B companies scale, and what impressed me most about SpotDraft is how fanatical the team is about customer outcomes," said Waks. "The platform doesn't just automate contracts, it fundamentally changes how legal teams operate and how they're perceived within their organizations. That's a story worth telling, and a market ready to listen." Amit Sharma Named Chief Financial Officer to Drive Financial Strategy and Scale With more than 20 years leading finance for scaling technology companies, Amit Sharma joins SpotDraft to build the financial foundation for its next chapter. Amit has been in startups since 2016 and has worked around financial structuring, acquisitions, and fund raises. In this role, Sharma will oversee all financial operations, strategic planning, and investor relations as SpotDraft scales to meet growing demand for AI-powered contract management solutions. He will also play a critical role in supporting the company's expansion into new markets and potential strategic initiatives. "SpotDraft has built a rare combination of strong unit economics, an expanding customer base, and a massive addressable market that's just beginning to embrace AI-powered solutions," said Sharma. "The fundamentals are exceptional, and my focus will be on ensuring we have the financial infrastructure and strategic framework to capture this opportunity at scale." Strong Traction Positions SpotDraft to Capture Growing Market SpotDraft's platform currently processes over one million contracts annually, with contract volumes growing 173% year-over-year and close to 50,000 monthly active users, demonstrating strong product-market fit as legal teams increasingly seek AI-powered solutions. The company was featured among Fast Company's Most Innovative Companies in 2024 and has raised $84 million to date from investors including Vertex Growth Singapore, Trident Growth Partners, Xeed VC, Arkam Ventures, and Prosus Ventures. This momentum positions SpotDraft to capture a significant share of the global legal tech market, expected to exceed $63 billion by 2032, with CLM representing one of the fastest-growing segments. "These executive appointments represent a significant milestone in SpotDraft's growth journey," said Shashank Bijapur, co-founder and CEO of SpotDraft. "As SpotDraft scales across the Americas, EMEA and India, Alon and Amit bring the strategic expertise and operational rigor needed to capitalize on the massive opportunity ahead. Their leadership will be instrumental as we continue building the future of contract management, one where AI genuinely transforms how legal teams work, not just adds complexity." To capture this opportunity, the leadership team will focus on three strategic priorities: scaling go-to-market operations across the Americas to meet growing mid-market and enterprise demand; establishing market leadership in EMEA as the preferred AI-powered CLM solution; and accelerating AI product capabilities that address the evolving needs of General Counsels and legal operations leaders. SpotDraft customers report significant operational and strategic impact: "Our users found SpotDraft so intuitive that adoption was effortless, and we've seen a huge improvement in efficiency between Sales and Legal," said Susan Koenig, Senior Legal Operations Manager at Abnormal Security. "What used to take weeks now happens in days." "We wanted to move the conversation from legal as a cost center to legal as a generator of revenue, and SpotDraft helped us do that," said André Barrow, Head of Legal Operations at DeepL. "Legal is no longer seen as a blocker, but as a revenue enabler." SpotDraft is an AI-powered contract lifecycle management platform that combines intuitive workflows, business-friendly design, and AI-powered contract intelligence to help legal teams reduce turnaround times, scale operations, and demonstrate measurable business impact. Founded in 2017 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.