Company
Company
Spotdraft
Spotdraft
Stage
Stage
Series A
Series A
Co-Investors
Co-Investors
Sector
Sector
SaaS
SaaS
Contract Lifecycle Mgmt
Contract Lifecycle Mgmt
Spotdraft is an AI-powered contract lifecycle management (CLM) platform designed to automate and simplify legal workflows for businesses. From drafting and negotiating to signing and storing contracts, it helps legal and business teams save time and reduce risk.
Spotdraft is an AI-powered contract lifecycle management (CLM) platform designed to automate and simplify legal workflows for businesses. From drafting and negotiating to signing and storing contracts, it helps legal and business teams save time and reduce risk.
Founded by
Founded by
Shashank Bijapur, Madhav Bhagat
Shashank Bijapur, Madhav Bhagat
Why we invested in Spotdraft
Why we invested in Spotdraft
Why we invested in Spotdraft
When we first started engaging with Shashank and Madhav, we couldn’t help but wonder why such strong founders were spending time in a space as crowded and mature as contract management. But the more we spoke, the clearer it became. Beneath the surface lay a massive opportunity: 200k+ SME businesses that still remain underserved by any solution. SpotDraft stood out as a customer-first platform reimagining how businesses could experience truly seamless contract management by harnessing AI for one of their most critical workflows.
When we first started engaging with Shashank and Madhav, we couldn’t help but wonder why such strong founders were spending time in a space as crowded and mature as contract management. But the more we spoke, the clearer it became. Beneath the surface lay a massive opportunity: 200k+ SME businesses that still remain underserved by any solution. SpotDraft stood out as a customer-first platform reimagining how businesses could experience truly seamless contract management by harnessing AI for one of their most critical workflows.
Strong Market Validation
Strong Market Validation
The market validation came fast and strong. In its very first year, SpotDraft had close to 100 customers and was growing fivefold. What impressed us most was how global it had already become, with half of its customers coming from the US and Europe. Every conversation with a user echoed the same sentiment: they simply loved the product. Even when going up against well-funded American incumbents, SpotDraft was winning 7 out of 10 deals. From the beginning, it was clear that SpotDraft was not just another contract management platform. It was one of the first in the space to use technology to bring true customer delight into the B2B world.
The market validation came fast and strong. In its very first year, SpotDraft had close to 100 customers and was growing fivefold. What impressed us most was how global it had already become, with half of its customers coming from the US and Europe. Every conversation with a user echoed the same sentiment: they simply loved the product. Even when going up against well-funded American incumbents, SpotDraft was winning 7 out of 10 deals. From the beginning, it was clear that SpotDraft was not just another contract management platform. It was one of the first in the space to use technology to bring true customer delight into the B2B world.
Operational Execution And GTM Engine
Operational Execution And GTM Engine
What impressed us next was their operational rigor. SpotDraft had built a GTM engine that was lean, precise, and fast. Each sales cycle closed in just six weeks. They converted 3% of outbound leads and 14% of inbound leads, all without a single person on the ground in the US. Their ability to achieve this with less than $5M in capital spoke volumes, especially when compared to incumbents who had raised close to $200M and whom they continue to beat consistently in competitive deals. As they scale, this foundation of efficiency and focus is only set to compound with sharper GTM investments.
What impressed us next was their operational rigor. SpotDraft had built a GTM engine that was lean, precise, and fast. Each sales cycle closed in just six weeks. They converted 3% of outbound leads and 14% of inbound leads, all without a single person on the ground in the US. Their ability to achieve this with less than $5M in capital spoke volumes, especially when compared to incumbents who had raised close to $200M and whom they continue to beat consistently in competitive deals. As they scale, this foundation of efficiency and focus is only set to compound with sharper GTM investments.
A Team Built To Win
A Team Built To Win
SpotDraft has a founding team with the right mix of skills to solve the problem they set out to tackle. Shashank, a Harvard-trained lawyer, brings deep domain insight, while Madhav, a Carnegie Mellon engineer and former Googler, brings world-class technical expertise. We were especially impressed when a prospect we introduced turned into a demo after a single meeting, showcasing their sharp customer understanding and pitch. Their product thinking, AI roadmap, and global feedback on design and usability remain best in class. This is a team that learns fast and executes even faster.
SpotDraft has a founding team with the right mix of skills to solve the problem they set out to tackle. Shashank, a Harvard-trained lawyer, brings deep domain insight, while Madhav, a Carnegie Mellon engineer and former Googler, brings world-class technical expertise. We were especially impressed when a prospect we introduced turned into a demo after a single meeting, showcasing their sharp customer understanding and pitch. Their product thinking, AI roadmap, and global feedback on design and usability remain best in class. This is a team that learns fast and executes even faster.
The next decade of sales innovation
The next decade of sales innovation
Based on our customer interactions, we believe sales processes for mid-market companies are at an inflection point and will continue to demand rapid product innovation over the next decade. The world is moving beyond traditional systems and even beyond Salesforce as the one-size-fits-all solution. This accelerating sales velocity is exposing deep friction in legacy contracting processes that can no longer keep up. SpotDraft has envisioned a roadmap that positions it to serve this evolving landscape, expanding across functions and becoming the core system of record for contracts. What ultimately convinced us was not just the market or the metrics, but the clarity of thought and ambition Shashank and Madhav bring to every conversation. They’re building with intent a global product born out of deep customer empathy and technical excellence. We’re thrilled to back them as they scale SpotDraft into one of the defining SaaS companies of the decade.
Based on our customer interactions, we believe sales processes for mid-market companies are at an inflection point and will continue to demand rapid product innovation over the next decade. The world is moving beyond traditional systems and even beyond Salesforce as the one-size-fits-all solution. This accelerating sales velocity is exposing deep friction in legacy contracting processes that can no longer keep up. SpotDraft has envisioned a roadmap that positions it to serve this evolving landscape, expanding across functions and becoming the core system of record for contracts. What ultimately convinced us was not just the market or the metrics, but the clarity of thought and ambition Shashank and Madhav bring to every conversation. They’re building with intent a global product born out of deep customer empathy and technical excellence. We’re thrilled to back them as they scale SpotDraft into one of the defining SaaS companies of the decade.
What's Happening
What's Happening
What's Happening
What's Happening
SpotDraft has scaled rapidly from $1M to $20M in ARR over the past four years, expanding its customer base to over 500 companies with 2/3rd of its customers from the US.
SpotDraft has scaled rapidly from $1M to $20M in ARR over the past four years, expanding its customer base to over 500 companies with 2/3rd of its customers from the US.
SpotDraft has scaled rapidly from $1M to $20M in ARR over the past four years, expanding its customer base to over 500 companies with 2/3rd of its customers from the US.
SpotDraft has scaled rapidly from $1M to $20M in ARR over the past four years, expanding its customer base to over 500 companies with 2/3rd of its customers from the US.
CONTACT
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Founder-first insights, straight to your inbox
CONTACT
NEWSLETTER
Founder-first insights, straight to your inbox