NEW YORK — Slice, which operates an online ordering service for independent pizza restaurants, announced that it closed $40 million in Series D funding led by Cross Creek with participation from existing investors, including GGV Capital, KKR, and Primary Ventures.
Former Twitter CEO Dick Costolo and former Twitter COO Adam Bain of 01 Advisors are also investing in the pizza tech platform, which serves over 15,000 pizza places in 3,000 cities and all 50 states.
This insider-led round, allows Slice to tap into the expertise of 01 Advisors as the company continues to invest in vertical solutions for its partner shops, expand its product roadmap, and scale Slice Accelerate — an ongoing program, inspired by the constraints of COVID-19, that bolsters shops with $15,000 each worth of technology and services.
“We are excited to welcome Adam Bain and Dick Costolo from 01 Advisors as investors and welcome their support as we continue to make strategic investments to keep local thriving,” said Ilir Sela, CEO and Founder of Slice. “We are so grateful to Cross Creek for leading this round and giving us the opportunity to bring on the 01 team as we enter this next stage of growth and continue to double down on our mission.”
“Slice has emerged as the leader in powering these types of small businesses that have been serving our communities for decades,” said Adam Bain, Co-Founder and Managing Partner of 01 Advisors. “We look forward to working with Ilir and the incredible team at Slice to marry our significant operating and business-scaling experience with Slice’s focus on enabling economic growth in this category.”
With over 15,000 local pizzerias in its network — more than double the U.S. footprint of Domino’s — Slice’s core mission is to keep local businesses thriving by offering the same specialized technology, marketing, data insights, shared services, and guidance that pizza franchises offer franchisees. Slice’s fixed-cost per order model has saved the local shops in its network over $250 million compared to third party delivery apps. These capabilities have proven essential with the surge in demand for pickup and delivery during the COVID-19 pandemic.
Slice Register and Slice Rewards are tools Slice has created and launched in 2021 to help shops build their digital market share and eliminate dependence on third party delivery apps.
“Slice has an incredibly impressive track record in investing in the success of independent pizzerias while better serving consumers,” said Peter Jarman, Managing Director, Cross Creek. “We’re thrilled to back the Slice team as they broaden the platform, scale product adoption, and strengthen their lead in the market by uniting small businesses with best-in-class technology and specialized services.”