Privacy-first enterprise AI company SpotDraft has secured an $8 million strategic Series B extension led by Qualcomm Ventures, lifting its valuation to roughly $380 million. The funding supports the expansion of SpotDraft’s on-device AI workflows for contract review in highly regulated legal environments, where sensitive data cannot be routed through the cloud.
The company recently demonstrated its VerifAI system running fully offline on Snapdragon-powered laptops, enabling contract analysis, risk scoring, and redlining directly within Microsoft Word. Led by co-founder and CEO Shashank Bijapur and CTO Madhav Bhagat, SpotDraft is positioning legal teams as an early proving ground for secure, on-device enterprise AI as adoption accelerates across regulated industries.
Featured image: Credit: SpotDraft
