SpotDraft Secures $8M from Qualcomm Ventures, Pioneering On-Device AI for Enterprise Legal

Strategic investment extends partnership advancing privacy-first legal AI on Qualcomm processors

NEW YORK–(BUSINESS WIRE)–SpotDraft, the leading AI-powered contract lifecycle management (CLM) platform, has raised $8 million from Qualcomm Ventures in a strategic Series B extension. The investment follows SpotDraft’s $56 million Series B raise in February 2025 and reflects accelerating enterprise demand for secure, high-performance legal AI that can run directly on-device.

The funding will be used to deepen SpotDraft’s product and AI capabilities and expand its enterprise presence across the Americas, EMEA, and India, and the relationship extends beyond capital. SpotDraft was featured at Qualcomm Technologies’ Snapdragon Summit 2025, showcasing fully on-device contract review running on Snapdragon® X Elite laptops without cloud connectivity, validating the viability of privacy-first AI for enterprise legal operations.

“This investment validates the architectural direction we’ve taken with SpotDraft,” said Shashank Bijapur, Co-founder and CEO, 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.”

VerifAI, SpotDraft’s AI-powered contract review tool, runs entirely on device, including embeddings, clause extraction, risk scoring, and applying edits directly on Snapdragon processors. While the application requires internet connectivity for sharing, login, and license checks, contract review, risk scoring, and editing execute completely offline on the local machine.

“AI is driving a fundamental shift in how legal workflows are executed, bringing new levels of efficiency to an inherently text-intensive domain,” said Quinn Li, Senior Vice President, Qualcomm Technologies, Inc., and global head of Qualcomm Ventures. “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.”

“SpotDraft is deliberately separating what needs to run close to the document from what benefits from the cloud,” said Madhav Bhagat, Co-founder and CTO, SpotDraft. “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.”

The investment aligns with Qualcomm Ventures’ conviction that on-device AI represents the future of enterprise computing. The firm has backed both foundational AI leaders like Anthropic and Cerebras and enterprise applications demonstrating real-world edge AI deployments, from industrial robotics to fleet safety to security operations.

SpotDraft has raised $92 million to date from investors including Qualcomm Ventures, Vertex Growth Singapore, Trident Growth Partners, Xeed VC, Arkam Ventures, and Prosus Ventures. The company continues to see strong momentum, with 100% year-over-year growth in customer acquisitions, contract volumes growing 173% year-over-year, and nearly 50,000 monthly active users now processing over 1 million contracts annually. SpotDraft’s customer base includes Apollo.io, Panasonic, Zeplin, and Whatfix, among others. The company was recognized in Fast Company’s Most Innovative Companies and Forbes Asia’s 100 to Watch.

About SpotDraft

SpotDraft is an AI-powered contract lifecycle management platform that combines intuitive workflows, business-friendly design, and AI-powered contract intelligence to help legal teams reduce turnaround times, scale operations, and demonstrate measurable business impact. Founded by Shashank Bijapur and Madhav Bhagat, SpotDraft has been recognized by Fast Company’s Most Innovative Companies 2024 and Forbes Asia’s 100 to Watch.

Snapdragon is a product of Qualcomm Technologies, Inc. and/or its subsidiaries. Snapdragon is a trademark or registered trademark of Qualcomm Incorporated.

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