Digital pizza ordering platform Slice raised $40 million in a funding round led by Cross Creek, Reuters reported on Wednesday (April 14). The startup’s valuation following the fundraise was not disclosed.
Additional new investors included two former Twitter executives — Dick Costolo, who was CEO from 2010-15, and Adam Bain, CFO from 2015-16 and president of Global Revenue and Partnerships from 2010-16. Both are now managing partners with the revenue stage investment fund 01 Advisors. Previous investors KKR, GGV Capital and Primary Ventures also participated in the round.
Headquartered in New York, the startup was founded in 2009 by Ilir Sela and helps local pizzerias take advantage of online ordering and payments. Sela, a serial tech entrepreneur, launched Slice to solve the digital challenges of his family’s New York City pizzerias.
“Slice has emerged as the leader in powering these types of small businesses that have been serving our communities for decades,” said Bain, co-founder of 01 Advisors, per Reuters.
The fresh capital will help Slice scale its digital ordering platform and expand its menu of products and services. The funds will also be used to grow Slice Accelerate, which assists community pizzerias with technology and services worth $15,000 each.
The new funding follows the $43 million investment led by KKR last year in May 2020. GGV Capital also invested in the Series C, along with other early investors. The company’s valuation then was about $82 million.
Last month the startup introduced Slice Register at the company’s 2021 MAKE Conference. The digital pizza ordering and delivery platform said its new tool will help community pizzerias compete with national chains.
Slice now partners with more than 14,000 mom-and-pop pizza shops across all 50 states. It’s the biggest app in the country that caters exclusively to community pizzerias.
Selected by EFXA