SpotDraft raises $54 mn to lead AI-powered contract lifecycle management

SpotDraft, an AI-driven contract lifecycle management (CLM) platform that helps in-house legal teams manage their contract ecosystems, has raised $54 million in Series B funding. Vertex Growth Singapore and Trident Partners were the lead investors. The existing investors Xeed VC, Arkam Ventures, Prosus Ventures, and Premji Invest have also participated in this round.

SpotDraft’s AI-driven tool manages all aspects of contracting. This includes AI-assisted redlining, e-signatures, an intelligent contract repository, third-party papers, and clickwrap agreements.