"As demand grows for privacy-first enterprise AI that can run without sending sensitive data to the cloud, SpotDraft has raised $8 million from Qualcomm Ventures in a strategic Series B extension to scale its on-device contract review tech for regulated legal workflows. The extension values SpotDraft at around $380 million, the startup told TechCrunch, nearly double its $190 million post-money valuation following its $56 million Series B in February of last year."
"Across regulated sectors, enterprises have moved quickly to test generative AI, but privacy, security, and data governance concerns continue to slow adoption for sensitive workflows - especially in legal, where contracts can include privileged information, intellectual property, pricing, and deal terms. Industry research has consistently flagged data security and privacy as key barriers to wider GenAI deployment in professional services, pushing vendors like SpotDraft to pursue architectures that keep core contract intelligence on the user's device rather than routing it through the cloud."
SpotDraft secured an $8 million Series B extension from Qualcomm Ventures to scale on-device contract review technology for regulated legal workflows, valuing the company at about $380 million. Enterprises in regulated sectors are testing generative AI but face privacy, security, and data governance barriers, especially for legal contracts containing privileged information, intellectual property, pricing, and deal terms. SpotDraft's architecture keeps core contract intelligence on the user's device rather than routing documents through the cloud. At Qualcomm's Snapdragon Summit 2025, SpotDraft demonstrated VerifAI running end-to-end offline on Snapdragon X Elite laptops; internet access remains required for login, licensing, and collaboration features.
Read at TechCrunch
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