SpotDraft Secures $8 Million From Qualcomm Ventures in Series B Extension Round

SpotDraft has raised $8 million from Qualcomm Ventures as part of a Series B extension round. The investment follows its $56 million Series B fundraise in February 2025, bringing total funding to about $92 million. Other backers include Vertex Growth Singapore, Trident Growth Partners, Xeed VC, Arkam Ventures, and Prosus Ventures.  

The company said the capital will be used to build product capabilities and expand enterprise operations across the Americas, Europe, the Middle East and Africa, and India. 

Platform and On-Device AI 

SpotDraft provides a contract lifecycle management platform for enterprises. Its AI-powered contract review tool, VerifAI, performs tasks such as embeddings, clause extraction, risk scoring, and applying edits directly on local machines using Qualcomm Snapdragon processors.  

Internet connectivity is required for login, licensing, and sharing documents, but contract review and editing functions can run offline on the device. 

Technology Integration 

The company is working with Qualcomm on technical integration, including optimisation for the Hexagon neural processing unit to reduce latency in on-device processing.  

Core contract understanding and recommendations are executed locally, while orchestration, learning processes, and large-scale analytics remain cloud-based.  

SpotDraft demonstrated on-device contract review on Snapdragon X Elite laptops at the Qualcomm Snapdragon Summit 2025. 

Business Metrics and Customers 

SpotDraft reported 100% year-on-year growth in customer acquisitions and a 173% increase in contract volumes.  

Nearly 50,000 monthly active users process more than one million contracts annually on the platform. Its customer list includes Apollo.io, Panasonic, Zeplin, and Whatfix. 

The startup has been included in Fast Company’s Most Innovative Companies list and Forbes Asia’s 100 to Watch. 

Read More: Healthcare Startup Nivaan Care Secures $7 Million to Boost Expansion! 

Conclusion 

The Series B extension adds incremental capital for product development and geographic expansion, while supporting the company’s focus on on-device AI for enterprise contract workflows. 

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