February 13, 2025:
SpotDraft Secures $54M for AI-Driven Legal Contracts - SpotDraft, an AI-powered platform for contract lifecycle management, has raised $54 million in a Series B funding round. The platform automates contract creation, negotiation, monitoring, and compliance and includes AI-assisted redlining tools and a smart contract repository. Founded by Shashank Bijapur and Madhav Bhagat, SpotDraft aims to enhance efficiency and innovation for legal teams.
SpotDraft launched VerifAI in 2023 to aid in contract review and compliance. The funding illustrates growing interest in AI solutions within the legal sector, mirroring recent investments in similar legal AI startups.
