Slice, a startup that helps independent pizzerias build an online business, has raised another $40 million in Series D funding.
The round was led by Cross Creek, with participation from KKR, GGV Capital and Primary Ventures, as well as Twitter’s former CEO Dick Costolo and former COO Adam Bain (through their firm 01 Advisors).
Last spring, the startup announced a $43 million Series C. Why not raise more money this time? Founder and CEO Ilir Sela described this as “a quick round” to get Costolo and Bain on-board as investors. He also suggested there may be additional fundraising conversations in the not-too-distant future.
“Slice has emerged as the leader in powering these types of small businesses that have been serving our communities for decades,” Bain said in a statement. “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.”
Slice has built a mobile app and website for ordering from local pizzerias, but it also provides tools so they can build their own websites, run marketing campaigns, improve their search engine optimization and more. Slice only charges those pizzerias a fixed $2.25 per order, and last fall it even removed the fee for orders under $10.
The company continues to expand its products and services with the recent launch of a point-of-sale system for pizzerias (Read more...)