SpotDraft Secures $54 Million in Series B Funding for Contract Lifecycle Management
SpotDraft, a leading contract lifecycle management (CLM) platform, has successfully raised $54 million in its Series B funding round. This round was spearheaded by Vertex Growth Singapore and Trident Partners, with additional contributions from Prosus, Premji Invest, Arkam Ventures, Volrado Venture Partners, and several other investors.
Earlier in March 2023, SpotDraft had secured $26 million during its Series A funding round. Startup Superb analyzed regulatory filings to provide insights into the financial breakdown, cap table, and the current valuation of the firm.
In the Series B round, the SpotDraft board allocated 139,025 Series B compulsory convertible preference shares at an issue price of Rs 33,938 each, raising approximately Rs 472 crore (about $54-55 million). This funding round began in December 2024, kickstarting with an investment of Rs 50.5 crore from Xeed Ventures through 021 Capital, along with participation from Premji Invest and Arkam Ventures via Unitary Fund. The remaining capital was secured in March 2025.
Leading the investment, Vertex Growth contributed Rs 126 crore (around $14.8 million). Trident Partners and Prosus followed with investments of Rs 109.6 crore ($12.9 million) and Rs 73.2 crore ($8.6 million), respectively. Other prominent investors included Premji Invest with Rs 37.6 crore, Arkam Ventures with Rs 34 crore, and Xeed Ventures contributing Rs 33.6 crore, along with Volrado Venture Partners at Rs 25 crore.
According to estimates from Startup Superb, the company’s post-money valuation has now escalated to between $190 million and $200 million. Based on diverse sources from startup data intelligence platforms, the Bengaluru-based company has raised a total of nearly $98.5 million to date. After the Series B funding, Xeed Ventures has become the largest shareholder, holding a 15.8% stake in SpotDraft, followed by Arkam Ventures with 10.27% and Premji Invest with 10.24%. The company’s co-founder, Shashank Bijapur, retains a 9.08% stake.
For detailed insights into the complete shareholding structure, references can be found in various sources.
Established in 2017, SpotDraft is an AI-powered contract lifecycle management (CLM) platform tailored for the needs of in-house legal teams. This innovative platform simplifies each phase of the contracting process by providing features such as AI-assisted redlining, electronic signatures, an intelligent contract repository, handling of third-party documents, and clickwrap agreements, among others.
SpotDraft faces competition from other legaltech startups, including Legistify, Leegality, Sirion, and Vakilsearch, among others.
In the fiscal year 2024, SpotDraft reported a threefold increase in revenue from operations, achieving Rs 60 crore, up from Rs 20 crore in the fiscal year 2023, while the company’s losses held steady at Rs 68 crore during the same period.
