SpotDraft secures $54 million in Series B funding

SpotDraft, a contract lifecycle management platform, has successfully raised $54 million in Series B funding, with Vertex Growth Singapore and Trident Partners leading the round. The company plans to utilize the funds to enhance its AI-driven product offerings and expand its market presence following a previous Series A round of $26 million in March 2023. SpotDraft, co-founded in 2017, provides solutions including AI-assisted redlining and e-signatures tailored for in-house legal teams, and has reported significant growth in revenue and customer base over the past two years. CEO Shashank Bijapur expressed confidence that 2025 will mark an important transition for the company with a focus on innovation and efficiency. The company has also launched new products like VerifAI and ClickThrough aimed at mid-market firms. With over 250 employees in Bengaluru and New York, SpotDraft is committed to increasing its leadership talent to support its growth strategy.