Qualcomm Backs SpotDraft To Scale On-Device Contract AI With Valuation Doubling Toward $400M
On-device AI contract platform SpotDraft secures $8M from Qualcomm Ventures as valuation nears $400M amid privacy-first enterprise demand.
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Qualcomm Backs SpotDraft To Scale On-Device Contract AI With Valuation Doubling Toward $400M
On-device AI Just Got a $400M Bet From Qualcomm On-device AI is transforming how enterprises handle sensitive contracts without cloud exposure—and Qualcomm just doubled down. SpotDraft, a legal tech startup specializing in privacy-first contract review, has secured an $8 million Series B extension from Qualcomm Ventures, pushing its valuation to approximately $380 million. The investment accelerates development of VerifAI, an on-device contract intelligence tool that processes sensitive legal documents entirely offline on Snapdragon X Elite laptops, addressing growing enterprise concerns about data privacy in generative AI workflows. Credit: SpotDraf t Why Privacy-First AI Matters Now More Than Ever Legal teams face an impossible choice: leverage AI's speed for contract review or protect privileged information from cloud exposure. Industry research consistently identifies data security as the top barrier to generative AI adoption in professional services. Contracts routinely contain in…