SpotDraft, an AI-powered platform that helps companies manage contracts, has raised $8 million from Qualcomm Ventures in a strategic extension of its Series B funding round.
This investment comes after SpotDraft raised $56 million in February 2025. It shows that more large companies are looking for secure and fast legal AI tools that can work directly on devices, without relying on the cloud.
The new funding will help SpotDraft improve its product and AI features and grow its business across the Americas, Europe, the Middle East, Africa (EMEA), and India.
SpotDraft was also featured at the Qualcomm Snapdragon Summit 2025, where it demonstrated contract review running fully on laptops using Snapdragon® X Elite chips. This proved that privacy-focused AI can work effectively for enterprise legal teams without needing internet connectivity.
“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-based contract review tool, runs entirely on the device itself. It handles tasks like understanding contract text, finding important clauses, checking risks, and suggesting edits directly on Snapdragon processors without sending data to the cloud.
The tool only needs internet access for things like logging in, sharing files and license checks. All key work—contract review, risk scoring, and editing—happens offline on the user’s computer, keeping data private and secure.
“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 reflects Qualcomm Ventures belief that on-device AI—AI that runs directly on devices—is the future of enterprise computing.
The firm has invested in both core AI companies like Anthropic and Cerebras, as well as enterprise tools that use AI in real-world, on-device situations, such as industrial robots, fleet safety systems and security operations.
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