SpotDraft, a legal tech startup based in New York City and Bengaluru, has raised $54 million in a Series B funding round led by Vertex Ventures, a subsidiary of Singapore's sovereign wealth fund Temasek, and Trident Partners. The funding round saw participation from existing investors, including Xeed VC, Arkam Ventures, Prosus Ventures, and Premji Invest. SpotDraft specializes in AI-enabled contract lifecycle management, aiming to streamline contracting tasks for in-house legal teams. The company has positioned itself as a key player in the legal tech sector, with 79% of firms reportedly already utilizing its tools to simplify their contract management processes.