Our Investments: SpotDraft

• Headquarters: Bengaluru, India
• Founded: 2017 by Shashank Bijapur, Madhav Bhagat and Rohith Salim
• Industry: SaaS – platform for contract lifecycle management 
• Website:  https://www.spotdraft.com/

SpotDraft is an end-to-end contract lifecycle management (CLM) SaaS solution. It helps legal and business teams manage and streamline all processes associated with the life cycle of contracts, from contract creation, collaboration, execution, analytics, and storage. SpotDraft’s platform helps digitize and automate the entire contract workflow. The Company has an international customer base and derives a significant proportion of its revenue from the US.

More on SpotDraft:

• The contract lifecycle management market presents a large and attractive opportunity: The global CLM market is expected to grow at a fast rate with increasing adoption in the future. CLM represents a significant opportunity to increase productivity, improve accuracy, and inject operational speed across organizations of all sizes, stages of maturity, industries, and geographies. This is especially the case for the mid-market segment where there are currently limited options for good quality, modern, end-to-end CLM solutions; most of the mid-market companies currently create and manage their contracts without any aid from specialized software solutions. SpotDraft’s software delivers modern functionality and capabilities that businesses need, while being intuitive and easy-to-use, rapid to onboard, agile, and affordable for organizations of different sizes. With this strong value proposition and increasing adoption of CLM tools, SoftDraft has an opportunity to emerge as one of the leading players in the CLM segment globally. 
• SpotDraft has demonstrated strong early traction and has significant cost advantages: SpotDraft has a global customer based and is hyper-focused on the US as a market. Some of its marquee customers include Airbnb, Notion, Panasonic, Strava, Chargebee, and Apollo.io.
• Strong and driven local management team: SpotDraft is managed by a strong founding team with complementary skills. Shashank Bijapur (CEO) is a Harvard Law Graduate and was previously a corporate lawyer, Madhav Bhagat (CTO) is a Computer Science Graduate from Carnegie Mellon and formerly at Google, while Rohith Salim (CPO), also a Computer Science Graduate from Carnegie Mellon, has worked with different SaaS start-ups in previous roles. 

The press release on the full investment news can be found here: Prosus.com/SpotDraft