SpotDraft announces $8M from Qualcomm Ventures, providing AI for the enterprise legal space

SpotDraft, a leading AI-powered contract lifecycle management (CLM) platform, announced it has secured $8 million from Qualcomm Ventures in a strategic Series B extension—enabling the company 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.

The investment follows SpotDraft’s $56 million Series B round in February 2025 and reflects accelerating enterprise demand for secure, high-performance legal AI that can run directly on-device, the company said. 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.

"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, the company said.

“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.”

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, the vendors said.

For more information about this news, visit www.spotdraft.com.