Dice, an enterprise spend management platform, has successfully raised Rs 42 crore ($5 million) in a Series A funding round led by Dallas Venture Capital. The funds will be directed towards various go-to-market (GTM) projects to enhance market growth, expand customer reach, improve sales and marketing strategies, and advance the platform’s AI capabilities for a superior user experience.
Dice offers businesses a comprehensive tool for managing expenditures, conducting online transactions, and processing payments. By leveraging artificial intelligence, Dice simplifies the procurement of B2B goods and services and tracks corporate spending, thus optimizing the spend management process.
The platform’s unique value proposition lies in its use of Generative AI (GenAI) to automate corporate spending processes, configure workflows with ease, and reduce cycle times. This efficiency unlocks significant working capital for a diverse range of partners and clients.
Prashant Singh Kushwah, Co-founder and CEO of Dice, expressed his enthusiasm: “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.”
Kamal Bansal, Managing Director at GVFL, highlighted the innovative approach of Dice: “Dice is addressing critical inefficiencies in corporate spend processes by leveraging AI in their horizontal no-code solution. With their rock-solid GTM strategy, the company has 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.”
Founded in 2018 by Prashant Singh Kushwah and Sonam Khubchandani, Dice is pioneering a holistic spend management ecosystem. The platform is redefining how enterprises procure B2B goods and services and manage corporate expenditures, effectively introducing a new paradigm in Software as a Service (SaaS) – “Spending as a Service.”
