7 months ago
SpotDraft Raises $8M from Qualcomm for AI Legal Tech
SpotDraft is a company that helps businesses manage their contracts using AI.
They just got $8 million from Qualcomm Ventures to help them grow.
This money will help them make their AI tools even better and reach more customers around the world.
Their special tool, VerifAI, can review contracts right on your computer without needing the internet, which keeps your information safe.
They've been growing really fast, with lots of new customers and contracts.
Big companies like Panasonic use their tools.
They were even featured at a big tech event where they showed off their AI working on a special computer chip.
SpotDraft raised $8 million from Qualcomm Ventures in a Series B extension, bringing total funding to $92 million.
The investment will be used to enhance product and AI capabilities and expand globally.
SpotDraft's VerifAI tool runs contract review, risk scoring, and editing entirely on-device using Snapdragon processors.
The company reported 100% year-on-year growth in customer acquisitions and 173% growth in contract volumes.
SpotDraft was showcased at Qualcomm Technologies’ Snapdragon Summit 2025, demonstrating on-device contract review without cloud connectivity.
- Who
- SpotDraft, a contract lifecycle management platform
- What
- Raised $8 million in Series B extension from Qualcomm Ventures
- Where
- Global expansion planned across Americas, Europe, Middle East, Africa, and India
- When
- January 27, 2026
- Why
- To strengthen product and AI capabilities, and expand enterprise footprint
Key facts
- Company
- SpotDraft
- Investor
- Qualcomm Ventures
- Funding Amount
- $8 million
- Total Funding
- $92 million
- Key Product
- VerifAI
- Key Technology
- Snapdragon X Elite
- Customer Growth
- 100% year-on-year
- Contract Volume Growth
- 173% year-on-year
- Monthly Active Users
- 50,000
- Annual Contracts Processed
- 1 million
Quotes
Shashank Bijapur
Co-founder and chief executive officer (CEO) of SpotDraft
“Legal teams handle some of the most sensitive business information, yet most AI tools still require sending that data to external cloud models.”
thehindubusinessline.com
Quinn Li
Senior vice president at Qualcomm Technologies Inc., and global head of Qualcomm Ventures
“SpotDraft’s ability to deploy their proprietary models securely on-device using Snapdragon platforms represents a meaningful advancement for a privacy-critical industry.”
thehindubusinessline.com
Sources
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