Slice is on the receiving end of a big block of mozzarella as two former Twitter execs joined the Cross Creek investment firm on a $40 million Series D funding round to help the New York-based pizza-focused delivery service kick off its latest round of growth.
Cross Creek led Slice’s latest funding round, which also included former Twitter CEO Dick Costolo and former Twitter COO Adam Bain of 01 Advisors, as well as GGV Capital, KKR and Primary Ventures.
Slice said this insider-led round allows the company to tap into 01 Advisors’ expertise as it continues to invest in “vertical solutions for its partner shops, expand its product roadmap, and scale Slice Accelerate,” which is the company’s COVID-inspired campaign that invests $15,000 worth of technology into restaurants to bring their technology up to modern standards to boost their sales.
“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,” said Slice CEO and Founder Ilir Sela. “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.”
“Slice has emerged as the leader in powering these types of small businesses that have been serving our communities for decades,” said Adam Bain, co-founder and managing partner of 01 Advisors. “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.”
As part of the announcement, Slice said that local pizzerias lack the resources to compete with large pizza chains for today’s digitally minded consumers. The company now has more than 15,000 local pizzerias on its network, which the company added is “more than double the U.S. footprint of Domino’s.
“Slice has an incredibly impressive track record in investing in the success of independent pizzerias while better serving consumers,” said Peter Jarman, managing director at Cross Creek. “We’re thrilled to back the Slice team as they broaden the platform, scale product adoption and strengthen their lead in the market by uniting small businesses with best-in-class technology and specialized services.”