Total amount raised
$125 Million
Latest funding date
4/1/2021
Location
Slice has raised funds through six rounds, with the latest being a Series D round involving eight investors, including Cross Creek as the lead investor. The company is backed by 17 investors, with Kohlberg Kravis Roberts and Wormhole Capital being the most recent.
Slice supports independent pizzerias by offering integrated technology, superior buying power, and a community of like-minded pizzeria owners. Keep reading to explore the intricacies of Slice's fundraising journey and the investors backing this innovative platform.
What Is Slice?
Slice is a private company based in New York, New York, operating in the Food and Beverage, Restaurants, and SaaS industries. The company employs between 251-500 people and focuses on supporting independent pizzerias with integrated technology and superior buying power.
Founded to empower local pizzerias, Slice offers a range of services including phone and online ordering systems, custom websites, marketing, and delivery services. The company aims to provide the advantages of big chains to local pizzerias without compromising their independence.
How Much Funding Has Slice Raised?
- Seed Round
- Amount Raised: USD 4,000,000
- Date: March 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial technology platform.
- Series Unknown
- Amount Raised: USD 2,999,996
- Date: July 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the technology and expand the service offerings.
- Series A
- Amount Raised: USD 15,000,000
- Date: May 2017
- Lead Investors: Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance marketing efforts.
- Series B
- Amount Raised: USD 20,000,000
- Date: March 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's market reach and improve technology infrastructure.
- Series C
- Amount Raised: USD 43,000,000
- Date: May 2020
- Lead Investors: Kohlberg Kravis Roberts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch new tools like Slice Register and Slice Rewards, and continue growth and technological advancements.
- Series D
- Amount Raised: USD 40,000,000
- Date: April 2021
- Lead Investors: Cross Creek
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in vertical solutions, expand the product roadmap, and scale the Slice Accelerate program.
Total Amount Raised: USD 124,999,996. Current Valuation: Not publicly disclosed.
Key Investors
- Cross Creek
- Details: Cross Creek is a venture capital firm that led the Series D funding round for Slice. They typically invest in growth-stage companies.
- Investment Focus Areas: Growth-stage companies.
- Notable Investments: Airbnb, Palantir.
- Kohlberg Kravis Roberts (KKR)
- Details: KKR is a global investment firm that participated in Slice's Series D funding round. They have a broad investment focus, including technology.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: ByteDance (TikTok), Epic Games.
- 01 Advisors
- Details: 01 Advisors is a firm founded by former Twitter CEO Dick Costolo and former COO Adam Bain. They participated in Slice's Series D funding round.
- Investment Focus Areas: Technology, internet companies.
- Notable Investments: Bird, Lyft.
- GGV Capital
- Details: GGV Capital is a venture capital firm that invests in technology companies across various stages. They are an existing investor in Slice.
- Investment Focus Areas: Technology companies.
- Notable Investments: Alibaba, Slack, Square.
- Primary Ventures
- Details: Primary Ventures is a venture capital firm focusing on early-stage technology companies. They are an existing investor in Slice.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Jet.com, Mirror.
What's Next for Slice?
Slice is poised for significant growth, leveraging its recent $40 million Series D funding to expand its vertical solutions and product offerings. With plans to scale the Slice Accelerate program and introduce new tools like Slice Register and Slice Rewards, the company aims to support more independent pizzerias and enhance their technological capabilities.
Future fundraising opportunities appear promising, given the involvement of high-profile investors and the company's ambitious goals. As Slice approaches 20,000 partner pizzerias and manages over $1 billion in transactions, additional investment rounds could further fuel its expansion and innovation.
However, challenges remain. Scaling operations to meet the needs of a growing network, maintaining low delivery costs, and competing with tech-centric pizza chains like Domino's are hurdles Slice must navigate. The company's ability to integrate new technologies and maintain strong partnerships will be crucial to its continued success.
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