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[FUNDING NEWS] India-Based Spend Management startup Dice Secures $5 Million In Series A Round Funding

Dallas Venture Capital, a venture capital firm, led a $5 million Series A fundraising round for the enterprise expenditure management platform Dice. Venture capital firm GVFL participated in the round as well.

The firm announced on Wednesday that it will utilize the freshly generated cash for a range of go-to-market efforts, such as improving market penetration, expanding customer outreach, streamlining sales and marketing tactics, and bolstering its artificial intelligence capabilities.

“DVC is helping us open doors in the US, and one of the biggest things an Indian enterprise can do is to reach out to the US and the Middle East to expand its software revenue base. The DVC Advantage programme is helping by giving us the relevant connections and people who can drive revenue for us in those markets,” Prashant Singh Kushwah, cofounder and CEO of Dice.

Dice is an enterprise digital commerce, payments, and corporate spend orchestration platform that was founded in 2018. Accounts Payable, Procurement Management, Subscription Management, Expense and Travel Administration, Payment and Budget Management, and Workflow Control are among its Enterprise Products.

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It makes use of AI to read and analyze documents that are uploaded to the platform, as well as to automate and improve a number of business processes using sophisticated data analytics.

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By the conclusion of the most recent fiscal year, Dice reported that approximately 75 businesses were using its platform and that it had generated $1.5 million in annual recurring revenue (ARR). IDFC First Bank, Piramal Enterprises, and Bajaj Electricals are a few of its notable business clientele.

About Dice

Dice is a tech-focused career marketplace connects recruiters and technologists directly. Their connecting tools, unmatched matching capabilities, and branding opportunities increase vetting speed, shorten time-to-hire, and develop trust, making it easy to construct a talent pipeline for current and future needs.

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