PE Fund Investments
CLM software platform SpotDraft raises $54-M in Series B led by Vertex, Trident
Bengaluru-headquartered SpotDraft , a technology startup that provides contract lifecycle management (CLM) software platform, has raised USD 54 million in a Series B funding led by Vertex Ventures (via Vertex Growth Singapore) and Trident Partners. This round also saw participation from existing investors - Xeed VC, Arkam Ventures, Prosus Ventures, and Premji Invest.Founded in 2017 by Shashank Bijapur, Madhav Bhagat and Rohith Salim, SpotDraft provides an AI enabled CLM platform for in-house legal teams. The platform manages all aspects of contracting including AI-assisted redlining, e-signatures, intelligent contract repository, third-party papers and clickwrap agreements. It has 250 employee base across its offices in Bengaluru and New York.
Between Oct 2017 and Dec 2023, SpotDraft had raised about USD 46 M from Arkam Ventures, Blume Ventures, LogX Ventures, PremjiInvest, Prosus Ventures, Xeed Ventures, Riverwalk Holdings, Boldcap Ventures, Hunch Ventures and Spiral Ventures.For FY24, SpotDraft had reported about INR 59 Cr in Operating Income and about INR 68 Cr in Net loss.
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