Dice, a leading enterprise spend management platform, has successfully raised Rs 42 crore ($5 million) in a Series A funding round. The round was spearheaded by Dallas Venture Capital, a cross-border venture capital firm, with participation from GVFL (formerly Gujarat Venture Finance Limited).
The fresh capital will be strategically allocated towards various go-to-market (GTM) initiatives aimed at enhancing market penetration, expanding customer outreach, optimizing sales and marketing strategies, and bolstering AI capabilities to improve user experience.
Prashant Singh Kushwah, Co-founder and CEO of Dice, expressed his enthusiasm about the funding, stating, “We aim to democratize spend management for all stakeholders through inclusive commerce, transaction processing capabilities, and payment rails. We are truly excited to have the support of Dallas Venture Capital and GVFL as we embark on this promising new chapter. This funding will empower us to expand our product offerings, grow rapidly in overseas markets, and deliver even more value to our clients.”
Dice is at the forefront of corporate spend orchestration, digital commerce, and payments for enterprises, utilizing AI to streamline the consumption of B2B goods and services and manage enterprise spending.
Gokul Dixit, Partner at Dallas Venture Capital, highlighted the unique advantages of Dice’s platform, saying, “Dice offers a distinctive value proposition which uniquely leverages GenAI to enable enterprise spend process automation, easy workflow configuration, and consequent cycle time reduction freeing up significant working capital for an impressive array of partners and clientele.”
Kamal Bansal, Managing Director at GVFL, also expressed confidence in Dice’s potential, noting, “Dice is addressing critical inefficiencies in corporate spend processes by leveraging AI in their horizontal no-code solution. With their rock solid GTM, the company has also scaled and garnered various partnerships, building an impressive clientele. GVFL is pleased to announce their partnership with Dice, supporting them in their global expansion and journey ahead.”
