What is SpotDraft's latest funding round and valuation?

SpotDraft recently secured an $8 million Series B extension investment from Qualcomm Ventures, valuing the startup at approximately $380 million.

How does SpotDraft's on-device AI technology address privacy concerns?

SpotDraft's technology allows sensitive contract data to be processed locally on a user's device, avoiding the need to send it to the cloud, thus enhancing privacy and security.

What are SpotDraft's future plans with the new funding?

SpotDraft plans to use the $8 million to deepen product and AI capabilities and expand its enterprise presence globally across the Americas, EMEA, and India.

Home / Technology / Privacy-First AI: SpotDraft Secures $8M for Offline Review

Privacy-First AI: SpotDraft Secures $8M for Offline Review

27 Jan

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Summary

SpotDraft secured $8 million in a Series B extension from Qualcomm.
The funding fuels on-device contract review technology for sensitive data.
New capital will expand SpotDraft's enterprise AI capabilities globally.

Privacy-First AI: SpotDraft Secures $8M for Offline Review

SpotDraft recently secured an $8 million Series B extension investment from Qualcomm Ventures. This funding round values the startup at approximately $380 million, nearly doubling its previous valuation. The capital injection will be used to scale SpotDraft's on-device contract review technology, addressing growing demand for privacy-first enterprise AI solutions that operate without sending sensitive data to the cloud.

This initiative is particularly crucial for regulated sectors like legal, where contracts often contain privileged information. SpotDraft's VerifAI workflow demonstrated the capability to perform contract review and edits entirely offline on Snapdragon X Elite-powered laptops, keeping documents local. While login and collaboration features require connectivity, core review processes run without cloud reliance.