SpotDraft, a Karnataka, India-based provider of an AI-powered Contract Lifecycle Management (CLM) solution for startups and scaleups, raised $26M in Series A funding.
The round was led by Premji Invest, with participation from Prosus Ventures, 021 Capital, Arkam Ventures, Riverwalk Holdings, and 100x Entrepreneur Fund.
The company intends to use the funds to further product development and growth in North America, identified as a key market.
Led by Madhav Bhagat, CTO, Rohith Salim, CPO & Shashank Bijapur, CEO, SpotDraft provides an end-to-end contract management and automation solution that acts as a digital record system for in-house legal teams to save time and close deals, and to focus on more strategic projects. Teams can create, manage, review, and execute contracts, store and organize agreements, submit legal requests and approvals, and generate risk reports automatically from a modern dashboard. The web app integrates with tech stacks used by startups and enterprises, including Salesforce, Hubspot, Slack, Google Drive, and more.
The company works with businesses across the U.S., Europe, the Middle East, and Asia Pacific regions.
FinSMEs
02/03/2023