Prosus Ventures Invests in $26M Series A Financing of SpotDraft
Gunderson Dettmer represented client Prosus Ventures as an investor in the $26 million Series A financing of SpotDraft, an India-based AI-powered contract lifecycle management platform. The new capital will be used for product development and aggressive expansion in North America.
In the announcement of the transaction, co-founder & CEO at SpotDraft Shashank Bijapur said, “The volume of work flowing through legal teams can often cause bottlenecks. Apart from dealing with legal work, today’s legal teams are expected to be leaders in everything from business strategy and governance to compliance and risk management. However, they’re often asked to do all of this with one hand tied behind their backs. We like to think of what we are building as a co-pilot for legal teams - a system that acts as a strategic partner for in-house counsels by taking care of the repetitive tasks and thereby enabling them to focus on higher leverage activities.”
The Gunderson deal team was led by Jonathan Pentzien and included Kamna Kumar.