Pizzeria Marketing Tech Platform Slice Closes $43 Million

By Annie Baker ● May 14, 2020
  • All-in-one ordering and marketing tech platform Slice announced it has raised $43 million in Series C funding

All-in-one ordering and marketing tech platform Slice announced it has raised $43 million in Series C funding led by KKR with participation from existing early investors, including GGV Capital.

While local pizzerias have long been at the heart of our communities, they often lack the resources to compete with large chains for today’s digitally-minded consumers. And Slice’s platform of services powers the online discovery and ordering for these small businesses and connects them to a large network of new and existing customers who enjoy a frictionless experience through the Slice app and website. 

These capabilities have proven essential with the surge in demand for pickup and delivery during the COVID-19 pandemic. And the new funding will be used to enhance and scale Slice’s platform of services — which now powers over 12,000 pizzerias across all 50 states.

Slice provides end-to-end services such as websites, marketing, online ordering, and payments to help local pizzerias provide customers with a digital experience that competes against the largest international pizza chains and food delivery apps. And Slice also offers access to its nearly five million customers who want local pizza through its app.

The Pizza vs Pandemic initiative was inspired by the heroes at the front lines of the pandemic. The initiative — which was Created by Slice in partnership with Slice Out Hunger and Pizza to the Polls — feeds front line care workers with coordinated large orders from local pizzerias. And since March 21, the program has raised over $470,000, fed an estimated 140,000 care workers, and supported over 700 pizzerias.

KKR’s investment in Slice was primarily from KKR Next Generation Technology Growth Fund II.

Key Quotes:

“Being able to drive business online is now essential to the success of local restaurants and this new funding will allow us to continue improving Slice’s platform to empower more independent pizza shops around the world. We are excited to welcome KKR as a new investor and look forward to working alongside their team who brings decades of experience building leading global companies.”

“We started Slice because we believe independent pizza makers are an essential part of our local communities. This has never been more apparent than over the past few months as nearly half a million dollars has been donated to not only drive more sales for small businesses, but also feed hundreds of thousands of care workers across the country through our Pizza vs. Pandemic initiative. The COVID-19 pandemic has also caused a significant surge in demand across our platform and we are focused on providing our pizzeria partners with the resources they need to access online sales channels at a time when in-restaurant demand has reduced significantly.”

– Slice founder and CEO Ilir Sela

“Our goal is to assemble a portfolio of world-class entrepreneurs and management teams and then work as hard as we can to support them. We’ve been incredibly impressed by Ilir and the team that he has attracted to Slice, as well as the remarkable growth and scale they have achieved over the last few years. We believe in their mission to bring unprecedented value to the unique community of independent pizza owners around the world, and we’re eager to leverage KKR’s global platform in that endeavor.”

– Jake Heller, Co-head of KKR Technology Growth team in the Americas

“Small and mid-sized businesses (SMBs) are the lifeblood of the American economy. Along the lines of what highly impactful companies like Square, Wix and Shopify have done for SMB’s, Slice is building the next great SMBTech platform for independent merchants in the pizza industry. We are thrilled to be part of the journey with Ilir and the team at Slice.”

– Jeff Richards, managing partner at GGV Capital and Slice board member

“Now more than ever, it is critical that we support local businesses in these volatile times. Local independent pizzerias have been feeding Americans across communities for decades and we are excited to put our resources behind Slice as they help to move these businesses online. Slice charges small business owners a fraction of the fees charged by food delivery apps and offers a suite of vertical specific solutions to solve the challenges faced by independent pizza makers. Slice provides easy to use technology and value to consumers by enabling access to local, high quality food.”

– Allan Jean-Baptiste, Principal at KKR