SpotDraft’s $8M raise, what problem is it solving?

SpotDraft has bagged $8 million from Qualcomm Ventures, topping up its war chest nearly a year after its $54 million Series B raise in February 2025.

SpotDraft is a legal-tech startup that uses AI to help companies create, review, and manage contracts securely, keeping sensitive legal data private.

The company wants to sharpen its product and AI capabilities, while pushing deeper into enterprise markets across the Americas, EMEA, and India.

SpotDraft’s pitch is straightforward: it uses AI to help companies handle contracts faster, while keeping sensitive documents safer. Instead of sending legal files to outside cloud AI systems, it’s built to process them on the user’s device, reducing the risk of leaks.

That matters because while businesses are eager to use GenAI, legal teams are often cautious. Contracts are packed with confidential details like pricing, deal terms, and proprietary business information.