SpotDraft, an AI-powered contract lifecycle management platform, announced it has raised $8 million from Qualcomm Ventures in a strategic Series B extension, expanding a relationship focused on bringing privacy-first legal AI to Qualcomm-powered devices. The investment follows SpotDraft’s $56 million Series B raise in February 2025 and comes as enterprises look for contract intelligence that can operate securely without sending sensitive documents to external cloud models.
SpotDraft said the new capital will support deeper product and AI development while accelerating enterprise go-to-market efforts across the Americas, EMEA, and India. The company framed the deal as both financing and platform validation tied to its work optimizing legal AI workloads for Qualcomm processors.
The companies highlighted a recent public demonstration of the approach at Qualcomm Technologies’s Snapdragon Summit 2025, where SpotDraft was fully showcased on-device contract review running on Snapdragon X Elite laptops without cloud connectivity. The use case is aimed at legal departments that handle highly confidential information and want to reduce exposure risk by keeping document understanding and editing local to the machine.
SpotDraft’s AI-powered contract review tool, VerifAI, is designed to run entirely on the device for core functions, including embeddings, clause extraction, risk scoring, and direct edit application on Snapdragon processors. The company said some functions still require connectivity, including sharing, login, and license checks, but that contract review, risk scoring, and editing are executed offline on the local machine.
Qualcomm Ventures positioned the investment as part of a broader thesis that on-device AI will become a central layer of enterprise computing. The firm said it has backed both foundational AI efforts and enterprise applications where edge deployment is already proving out in production environments.
SpotDraft also described a split architecture in which document-adjacent intelligence runs locally, while other layers remain cloud-oriented. The company said orchestration, learning, and large-scale analytics benefit from cloud delivery, while guideline checks and recommendations are better executed close to the document to minimize latency and preserve privacy. SpotDraft added that optimizing these workloads for the Qualcomm Hexagon NPU is intended to deliver low-latency experiences while maintaining accuracy.
The company said it has raised $92 million to date and listed investors including Qualcomm Ventures, Vertex Growth Singapore, Trident Growth Partners, Xeed VC, Arkam Ventures, and Prosus Ventures. SpotDraft reported operating momentum, citing 100% year-over-year growth in customer acquisitions, contract volumes up 173% year over year, and nearly 50,000 monthly active users processing more than 1 million contracts annually. Its customer roster includes Apollo.io, Panasonic, Zeplin, and Whatfix.
SpotDraft said it has also received industry recognition, including being named in Fast Company’s Most Innovative Companies and Forbes Asia’s 100 to Watch. Founded by Shashank Bijapur and Madhav Bhagat, the company positions its CLM platform as combining workflow tooling with AI-powered contract intelligence to help legal teams reduce turnaround times, scale operations, and demonstrate measurable business impact.
KEY QUOTES
“This investment validates the architectural direction we’ve taken with SpotDraft. Legal teams handle some of the most sensitive business information, yet most AI tools still require sending that data to external cloud models. We’ve developed the SpotDraft platform to run core contract intelligence workflows locally on device, giving legal teams AI capabilities without compromising performance, privacy, security, or control.”
Shashank Bijapur, Co-founder and CEO, SpotDraft
“AI is driving a fundamental shift in how legal workflows are executed, bringing new levels of efficiency to an inherently text-intensive domain. SpotDraft’s ability to deploy their proprietary models securely on-device using Snapdragon platforms represents a meaningful advancement for a privacy-critical industry. We’re excited to enable high-performance, secure AI at the edge and see strong potential for this technology across the legal ecosystem.”
Quinn Li, Senior Vice President, Qualcomm Technologies, Inc., and global head of Qualcomm Ventures
“SpotDraft is deliberately separating what needs to run close to the document from what benefits from the cloud. Core contract understanding, guideline checks, and recommendations run locally on device, while orchestration, learning, and large-scale analytics remain cloud-driven. Optimizing these workflows for the Qualcomm® Hexagon™ NPU allows us to deliver low-latency, private AI experiences without compromising accuracy.”
Madhav Bhagat, Co-founder and CTO, SpotDraft
