At a Glance
| Detail | Formality | SpotDraft |
|---|---|---|
| Category | CLM | CLM |
| Total raised | $6.2M | $88M |
| Rounds tracked | 1 | 3 |
| Latest round | Seed, $6.2M · Oct 2024 | Series B extension, $8M · Jan 2026 |
| Last valuation | Not disclosed | Not disclosed |
| Lead investors | Partech, Serena | Qualcomm Ventures, Vertex Growth Singapore, Trident Growth Partners, Premji Invest |
| Built for | Not disclosed | In-house teams |
| Headquarters | France | United States |
Funding, Side by Side
Formality rounds
- Oct 2024Seed$6.2M
SpotDraft rounds
- Jan 2026Series B extension$8M
- Feb 2025Series B$54M
- Mar 2023Series A$26M
Our Take
We have not tested these two head to head yet. The numbers above come from public funding announcements. If you use either one, tell us what you found and it may become a Field Note.
Quick Answers
- Which has raised more, Formality or SpotDraft?
- SpotDraft has raised $88M in disclosed funding, compared with $6.2M for Formality.
- Do Formality and SpotDraft share investors?
- No. None of the investors we track have backed both companies.
- What is SpotDraft best for?
- SpotDraft is AI contract lifecycle management software for drafting, reviewing, signing and renewing contracts.
Source: Legal Tech Circle funding data, from public announcements. Updated November 10, 2026.