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Slice raises funds through Series D round

15 Apr 2021 (Last Updated April 15th, 2021 12:27)

Pizza-ordering app Slice has raised $40m through a Series D funding round to support its business growth amid the Covid-19 pandemic.

Slice raises funds through Series D round
Pizza-ordering app Slice has raised $40m through a Series D funding round. Credit: marcos vega from Pixabay.

Pizza-ordering app Slice has raised $40m through a Series D funding round to support its business growth amid the Covid-19 pandemic.

The funding round was led by Cross Creek with participation from former Twitter CEO Dick Costolo and former Twitter COO Adam Bain, both of 01 Advisors, as new investors.

The round had also seen participation from existing investors, including GGV Capital, KKR and Primary Ventures.

Slice founder and CEO Ilir Sela said: “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.

“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.”

The funding will be used by the company to invest in vertical solutions for its partner shops, expand its product roadmap and scale its Slice Accelerate programme.

With a network of more than 15,000 local pizzerias, Slice aims to keep local businesses thriving by offering the same specialised technology, marketing, data insights, shared services and guidance that pizza franchises offer their franchisees.

01 Advisors co-founder and managing partner Adam Bain said: “Slice has emerged as the leader in powering these types of small businesses that have been serving our communities for decades.

“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.”

In another development, Atlanta-based restaurant tech startup sunday has been launched in the US after securing $24m through a seed financing round led by Coatue.

Designed by restaurateurs, sunday offers a next-generation payment method that customers can use to pay in ten seconds and on their own time.