SpotDraft Secures $8M from Qualcomm Ventures to Advance On-Device AI for Enterprise Legal

SpotDraft Secures $8M from Qualcomm Ventures to Advance On-Device AI for Enterprise Legal

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

New York, January 27, 2026 – SpotDraft, an 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. 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. The demonstration validated the viability of privacy-first AI for enterprise legal operations.

SpotDraft’s AI-powered contract review tool, VerifAI, runs entirely on device. Core workflows such as embeddings, clause extraction, risk scoring, and applying edits execute locally on Snapdragon processors. While internet connectivity is required for login, licensing, and collaboration, contract review and editing can be performed fully offline on the local machine.

“Legal teams handle some of the most sensitive business information, yet most AI tools still require sending that data to external cloud models,” said Shashank Bijapur, Co-founder and CEO of SpotDraft. “We’ve built SpotDraft to run core contract intelligence workflows locally on device, giving legal teams AI capabilities without compromising performance, privacy, security, or control.”

“AI is driving a fundamental shift in how legal workflows are executed, bringing new levels of efficiency to a text-intensive domain,” said Quinn Li, Senior Vice President, Qualcomm Technologies, Inc. and Global Head of Qualcomm Ventures. “SpotDraft’s ability to deploy proprietary models securely on-device using Snapdragon platforms represents a meaningful advancement for a privacy-critical industry.”

“SpotDraft deliberately separates what needs to run close to the document from what benefits from the cloud,” said Madhav Bhagat, Co-founder and CTO of SpotDraft. “Core contract understanding and recommendations run locally, while orchestration and analytics remain cloud-driven. Optimizing 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 and enterprise applications demonstrating real-world edge AI deployments.

To date, SpotDraft has raised $92 million 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 processing over 1 million contracts annually. Customers include Apollo.io, Panasonic, Zeplin, and Whatfix.

About SpotDraft

SpotDraft is an AI-powered contract lifecycle management platform that combines intuitive workflows, business-friendly design, and AI-driven contract intelligence to help legal teams reduce turnaround times, scale operations, and demonstrate measurable business impact.

Media Contact
Annapoorna Ramanath
annapoorna@spotdraft.com