Total amount raised
$1.5 Million
Latest funding date
February, 2019
Location
SpotDraft has successfully raised $54 million in its Series B funding round, attracting significant interest from investors. The platform offers intelligent contract management solutions designed to streamline the entire contract lifecycle for fast-growing companies.
Keep reading to explore the intricacies of SpotDraft's fundraising journey and the investors backing this innovative platform.
What Is SpotDraft?
SpotDraft, founded in 2017, is headquartered in Bangalore, Karnataka, India. The company specializes in AI-driven contract management and automation solutions designed for fast-growing businesses.
Founded by Madhav Bhagat, Rohith Salim, and Shashank Bijapur, SpotDraft offers end-to-end contract management services. These services cater to various teams, including legal, sales, marketing, human resources, business operations, and procurement.
With a workforce of 251-500 employees, SpotDraft integrates with popular SaaS tools to deliver a seamless experience for global businesses, optimizing the contract management process by eliminating inefficiencies and reducing repetitive tasks.
How Much Funding Has SpotDraft Raised?
- Seed Round
- Amount Raised: $550K
- Date: October 2017
- Lead Investors: Hunch Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their AI-driven contract management platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: March 2023
- Lead Investors: 021 Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand initial market reach.
- Series A
- Amount Raised: $26M
- Date: March 2023
- Lead Investors: Premji Invest
- Valuation at Round: Around $150M
- Motivation Behind the Round: To enhance the platform, expand the team, and accelerate growth.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: July 2024
- Lead Investors: Google for Startups
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources from Google for Startups.
- Series B
- Amount Raised: $54M
- Date: February 2025
- Lead Investors: Vertex Growth Fund, Trident Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate global expansion, drive AI-powered product innovation, and grow the talent base.
Total Amount Raised: $80.55M. Current Valuation: Not publicly disclosed.
Key Investors
- Trident Partners
- Details: Trident Partners is an investment firm known for its involvement in high-growth potential startups.
- Investment Focus Areas: Technology, innovative startups, private equity.
- Notable Investments: Not publicly disclosed.
- Vertex Growth Fund
- Details: Vertex Growth Fund is a venture capital firm based in Singapore, focusing on growth-stage investments.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Grab, PatSnap, Waze.
- Google for Startups
- Details: Google for Startups provides resources, programs, and support to help startups grow and scale.
- Investment Focus Areas: Technology, innovation, entrepreneurship.
- Notable Investments: Not publicly disclosed.
- Premji Invest
- Details: Premji Invest is the investment arm of Azim Premji's endowment and philanthropic initiatives.
- Investment Focus Areas: Technology, consumer, healthcare sectors.
- Notable Investments: PolicyBazaar, Flipkart, FabHotels.
- Hunch Ventures
- Details: Hunch Ventures is a venture capital firm that invests in early-stage companies with innovative solutions.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Not publicly disclosed.
What's Next for SpotDraft?
SpotDraft is poised for significant growth, driven by opportunities in global expansion, talent acquisition, and deepening AI integration. The $54 million Series B funding will enable the company to enhance its product features and expand its market reach, positioning it as a leader in the contract lifecycle management space.
Future fundraising opportunities seem promising, given the company's rapid growth and investor confidence. Additional funding rounds could support further innovation and market penetration. However, SpotDraft may face challenges such as competition, technological advancements, and maintaining high service quality as it scales.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like SpotDraft and gather other critical business insights.
Sign up for free on Clay and elevate your sales strategy with the most up-to-date information at your fingertips.
