How Much Did SpotDraft Raise? Funding & Key Investors

SpotDraft has successfully raised $54 million over 6 funding rounds, with the latest being a Series B. The platform offers AI-powered contract lifecycle management solutions tailored for various teams and industries.

Keep reading to explore the intricacies of SpotDraft's fundraising journey and the investors backing this innovative platform.

What Is SpotDraft?

SpotDraft is a contract automation platform that manages the entire contract lifecycle. The company operates in industries such as Artificial Intelligence (AI), Legal, Legal Tech, and SaaS. It is located in Bangalore, Karnataka, India, and has an employee count between 251-500.

SpotDraft provides AI-powered contract lifecycle management solutions designed to streamline and automate the contracting process for businesses. Their platform offers features such as contract creation, negotiation, management, analytics, and eSignatures, all integrated with AI to enhance efficiency and compliance.

How Much Funding Has SpotDraft Raised?

1. Series B
   • Amount Raised: USD 54,000,000
   • Date: February 2025
   • Lead Investors: Trident Partners, Vertex Growth Fund
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance product offerings, expand AI capabilities, and grow market presence and talent pool.
2. Non-Equity Assistance
   • Date: July 2024
   • Lead Investors: Google for Startups
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To gain strategic support and resources from Google for Startups.
3. Series A
   • Amount Raised: USD 26,000,000
   • Date: March 2023
   • Lead Investors: Premji Invest
   • Valuation at Round: Approximately USD 150,000,000
   • Motivation Behind the Round: To support initial growth and product development.
4. Seed
   • Date: March 2023
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the company's operations and early-stage development.
5. Seed
   • Amount Raised: USD 550,000
   • Date: October 2017
   • Lead Investors: Hunch Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support early-stage growth and development.
6. Seed
   • Date: February 2017
   • Lead Investors: 021 Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To establish the company and develop the initial product.

SpotDraft has raised a total of USD 80,550,000. The current valuation is not publicly disclosed.

Key Investors

• Trident Partners
  • Details: Trident Partners is a leading investment firm that participated as a lead investor in SpotDraft's Series B funding round. They focus on growth-stage companies with innovative solutions.
  • Investment Focus Areas: Technology, Innovation, Growth-stage companies
  • Notable Investments: SpotDraft
• Vertex Growth Fund
  • Details: Vertex Growth Fund, managed by Vertex Growth Singapore, led SpotDraft's Series B funding round. They are known for supporting companies with strong product vision and go-to-market strategies.
  • Investment Focus Areas: Enterprise solutions, AI, Legal Tech
  • Notable Investments: SpotDraft
• Google for Startups
  • Details: Google for Startups provides resources and support to help startups grow and succeed. They participated in SpotDraft's non-equity assistance round.
  • Investment Focus Areas: Technology, Startups, Innovation
  • Notable Investments: SpotDraft
• Premji Invest
  • Details: Premji Invest is the investment arm of Azim Premji's endowment and philanthropic initiatives. They have been involved in multiple funding rounds for SpotDraft.
  • Investment Focus Areas: Technology, Innovation, Growth-stage companies
  • Notable Investments: SpotDraft
• Hunch Ventures
  • Details: Hunch Ventures is a venture capital firm that invests in early-stage companies. They were a key investor in SpotDraft's seed funding round.
  • Investment Focus Areas: Early-stage companies, Technology, Innovation
  • Notable Investments: SpotDraft

What's Next for SpotDraft?

SpotDraft is poised for significant growth, driven by opportunities in market expansion, talent acquisition, and AI-powered product innovation. With $54 million in Series B funding, the company is well-positioned to enhance its product offerings and expand its global footprint, capitalizing on the increasing demand for efficient contract lifecycle management solutions.

Future fundraising opportunities appear promising as SpotDraft continues to grow and innovate. The company's strong market position and substantial financial backing suggest potential for additional investment rounds to support further expansion and technological advancements.

However, SpotDraft may face challenges such as competition from other legal tech providers, maintaining rapid growth, and ensuring data security and compliance. Navigating these hurdles will be crucial for sustaining its momentum and achieving long-term success.

Use Clay to Get Funding Data

Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like SpotDraft and gather other critical business insights.

Sign up for free to start unlocking valuable information that can drive your sales strategy and business growth.