ANNOUNCEMENT

We’ve raised $26M in Series A!

These funds will be used to further improve our contract automation platform and expand our global footprint.

While leading organisations around the world are already investing in automated CLM tools, the overall level of adoption is still relatively modest. Further, there are few good quality, modern, end-to-end CLM solutions for the mid-market segment. SpotDraft has addressed this gap efficiently with their strong value proposition and demonstrated strong early traction and significant cost advantages.

Ashutosh Sharma | Head of India Investments, Prosus Ventures

Contract management has become the Achilles heel for go-to-market teams at fast-growing companies. We see massive potential in the market to serve the needs of all kinds of businesses. We are delighted to partner with the outstanding SpotDraft team in setting global benchmarks in terms of customer value, ease of use and rapid implementation.

Bala Srinivasa | Managing Director, Arkam Ventures

We partnered with the SpotDraft team because of their passion to solve problems for in-house legal teams. Over the last few years, their growth in terms of customers across geographies is a testament to the founders, the product, and the execution by the entire SpotDraft team. We are delighted to continue partnering with them in the next phase of their journey and are confident that very soon, SpotDraft will emerge as a market leader in the CLM space.

Sailesh Tulshan | Founder, 021 Capital

Contracting has multiple stakeholders including legal, sales, finance, and it is important to create a seamless experience for all of them. We invested in SpotDraft's world-class team because they’ve elegantly solved this business problem and created a product that is loved by teams across the organization.

Atul Gupta | Partner, Premji Invest

300%

Year over year growth this year

1 million+

Contracts processed till date

1.5 million+

Hours saved

Read the official press release

A note from the co-founders

SpotDraft has just raised $26 Million in Series A funding!

We're beyond thrilled to announce that the round was led by Premji Invest, with participation from some of our existing investors like 021 Capital and Riverwalk Holdings. But that's not all - we've also got new investors on board, including the 100X Entrepreneur Fund, Prosus Ventures, Arkam Ventures, and a clutch of strategic angels.

A big milestone

Our recent series A funding marks a major milestone for us, and we couldn't have done it without our customers. The best part? Many of our investors were introduced to us by happy customers who raved about our platform. Others took notice when they saw how many of their portfolio companies were already using SpotDraft.

We're thrilled about the opportunities this funding presents, and we've already started using it to take SpotDraft to the next level. We have several innovative AI and machine learning features in development for April - stay tuned for more!

SpotDraft, the ultimate co-pilot for modern legal teams

Every time a dollar enters or exits a business, it all comes back to one thing - contracts. This makes contracts critical to business operations but puts undue pressure on legal teams — they are often stuck with the tedious and time-consuming task of managing them, leaving little time for strategic projects.

But it doesn’t have to be that way. SpotDraft changes the game for legal teams by ensuring:

Mundane and repetitive contracting work is automated,
Contracts don’t become bottlenecks in fast-growing businesses,
Legal teams are empowered to become key enablers of business growth, and a lot more!

These funds will be used to double down on making this a reality for more businesses across the globe.

What we’re building

Here’s what we’re heavily investing in over the next couple of years:

AI and ML-based suggestions for contracts

We are building an AI engine personalized for legal teams - to ensure that all repetitive redlines, negotiations, and edits happen faster than ever.

Deeper integrations with more business tools

We’ve built a seamless contracting layer within the tools used by business teams, so you see adoption within weeks. We’ll further expand our integration play moving forward.

A best-in-class implementation program

To ensure that our customers start seeing RoI with SpotDraft faster than ever, we are doubling down on our implementation program.

The most user-friendly platform in the market

Creating and managing contracts shouldn’t be that hard! We are constantly working on elevating the entire contracting experience for legal and business teams.

Customer feedback has always been a key deciding factor in what we build at SpotDraft, and we’ve now made our product roadmap public for this very reason. Using this portal, customers can see what's in the pipeline and suggest or upvote feature requests. Check it out to see what we're building in the coming months!

We’re hiring!

We have a challenging and exciting journey ahead of us, and that's why we plan to double our team in the coming months.

We're building on our solid foundation for growth and taking things to the next level - focusing on making our products even better, refining our GTM model, and exploring new ideas through R&D. It's an exciting time, and if you’d like to be a part of our journey, we encourage you to check out openings on our team here.

As rated by our users on G2

Ease of Use

Quality of Support

Ease of Setup

Reinvent your contracting experience - 20 minutes is all it takes!

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“SpotDraft streamlines our workflows so we can focus on true legal requests, not the repetitive general requests that can be resolved via standard fallbacks and appropriate approvals. Everything simply works, the team is open to feedback, and the team is constantly improving the product!”

Taylor Smith

Contract Manager

PostScript

Great product with an outstanding team! SpotDraft is a very agile company who is hungry to build a category leading product. As a customer that comes across very positively. The product has a huge potential.

Xavier L.

General Counsel

Beamery

SpotDraft provided the simplicity and flexibility we were looking for and the pricing is better compared to others. The first connection with the team felt more reassuring. They are extra, providing such a good support to clients.

Axelle

Consultant in Strategy

IDfy

I'm a big fan of SpotDraft! The SpotDraft platform and features are intuitive, making the contract process (mission-critical) more enjoyable. The UX is a delight. The SpotDraft team provides an excellent, collaborative service to support customers.

Cory L.

VP, Legal & Data Privacy Officer

Buoy Health

The SpotDraft team has been more than amazing in helping us evaluate their platform and getting it ready for launch. Their product answers our needs and requirements and will grow with us as we continue to scale our organization.

David Levanon

Senior Director and Head of Revenue Operations

Chargebee

The specific problem we were looking to Spotdraft to solve was to provide a single, secure and easily searchable repository of all our contracts. Spotdraft has solved that problem for us. But it has also brought significant additional benefits, particularly around the execution of template contracts.

Ben Bowden

COO and General Counsel

Zai