# SpotDraft

> SpotDraft is an AI-native contract lifecycle management (CLM) platform built for in-house legal and business teams. Founded in 2017 by Shashank Bijapur and Madhav Bhagat, it handles the full contracting journey - drafting, negotiation, AI-assisted redlining, e-signatures, and an intelligent repository - so legal teams can move faster without giving up control. With its VerifAI Microsoft Word plug-in and a broader 'Legal OS' vision, SpotDraft serves 450+ organizations and is used by growth-stage and enterprise companies to cut contract busywork and surface risk automatically.

- **Founded:** 2017
- **Headquarters:** New York, United States (with primary operations in Bengaluru, India)
- **Founders:** Shashank Bijapur (Co-Founder & CEO), Madhav Bhagat (Co-Founder & CTO), Rohith Salim (Co-Founder), Riddhi Kanoi (Co-Founder)
- **Team size:** ~330 employees
- **Products:** SpotDraft CLM, VerifAI, Native e-Signatures, Contract Repository & Analytics
- **Notable:** Raised a total of roughly $90M-$113M across multiple rounds since 2017, Named to Fast Company's Most Innovative Companies 2024, Recognized as a Leader and Momentum Leader for CLM on G2

## Products & services

- **SpotDraft CLM** — End-to-end contract lifecycle management platform covering workflows and approvals, negotiation and collaboration, contract repository, analytics, and native e-signatures.
- **VerifAI** — Generative-AI contract review tool and Microsoft Word plug-in that checks contracts against user-defined guidelines, detects deviations, flags missing clauses, extracts metadata, and answers open-ended questions about a document.
- **Native e-Signatures** — Built-in ESIGN/eIDAS-compliant electronic signatures, including support for Aadhaar e-signatures, so teams don't need a separate signing tool.
- **Contract Repository & Analytics** — Centralized, searchable repository with precise access controls, AI clause/metadata extraction, renewal alerts, and contract analytics dashboards.

## Achievements

- Raised a total of roughly $90M-$113M across multiple rounds since 2017
- Named to Fast Company's Most Innovative Companies 2024
- Recognized as a Leader and Momentum Leader for CLM on G2
- Included in the IDC MarketScape for AI-Enabled Buy-Side CLMs 2025
- Listed among Forbes America's Best Startup Employers
- Grew to 450+ customer organizations and ~330 employees

## Latest updates

- **2026-01** — Raised an $8M Series B extension led by Qualcomm Ventures to pioneer on-device AI for enterprise legal.
- **2025-02** — Closed a $54M Series B led by Vertex Ventures and Trident Growth Partners to lead AI contract lifecycle management.
- **2023** — Launched VerifAI, a generative-AI contract review plug-in for Microsoft Word.
- **2023-03** — Raised a $26M Series A, positioning CLM as a still-profitable, AI-driven category.

## Links

- Website: https://spotdraft.com
- LinkedIn: https://www.linkedin.com/company/spotdraft
- Twitter/X: https://twitter.com/spotdraftHQ
- YouTube: https://www.youtube.com/@SpotDraft
- Instagram: https://www.instagram.com/spotdraftclm
- Facebook: https://facebook.com/SpotDraftHQ/

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Profile page: https://yespress.io/spotdraft
Published by YesPress — https://yespress.io
Last updated: 2026-07-18