Slice is a New York-based company that offers independent pizzerias with marketing services, technology and other shared services that are needed to satisfy and serve today’s technology-based consumers. Recently, the pizza company has announced to have raised funds worth USD 40 million in its latest funding round led by Cross Creek, a Salt Lake City-based investment company.
According to a report by Reuters, the funding round also saw participation from 01 Advisor’s Adam Bain and Dick Costolo. Both these investors are former Twitter Chief Operating Officer and Chief Executive Officer, respectively.
When asked about the latest infusion of funds, the pizza-based start-up mentioned utilising the new funding to accelerate and scale up its ongoing program. Founded back in the year 2009 by Ilir Sela, Slice helps independent pizza places in getting technologically transformed with specialised data insights, shared services, marketing services and the latest technology that serves today’s modern consumers who are all digitally very much advanced. In order for these independent pizzerias to cope up with the changing times, especially during the unfortunate COVID-19 pandemic, they need professional assistance and Slice does exactly that.
The co-founder of 01 Advisors mentioned in a statement praising Slice that it has emerged as a market leader in empowering small businesses that have been serving our communities for decades. The company’s ongoing program which it aims to scale with this new funding, Slice Accelerate supports small independent pizza places with shared marketing services and technology worth USD 15,000.
According to the company profile on Crunchbase, Slice raised USD 43 million in its Series C financing round back in May 2020 from Kohlberg Kravis Roberts. Existing investors of the company include RiverPark Ventures- a New York-based investment management firm and global Venture Capital firm-GGV Capital. Following the company’s latest funding round, the post-funding valuation of Slice was not disclosed, according to Reuters.
Crunchbase profile of the company reveals that prior to this latest investment, the company had raised USD 125 million in over six financing rounds.
Having said that, COVID-19 has been a major game-changer for small businesses and enterprises all over the world. If the businesses are not leveraging technology to reach out to their customers and is only dependent on physical communication, then there have been significant losses in one’s business. In order to survive as a business in these difficult times and the times to come, small, medium and even large established businesses have to leverage the latest technology to cater their services to the customers without compromising on the customer experience. Only then will you be able to flourish your business in the future to come.