Global funding agency KKR is betting on the pizza enterprise — it simply led a $43 million Series C funding in Slice.
Formerly often called MyPizza, Slice has has created a cellular app and web site the place diners can order a customized pizza supply from their native, unbiased pizzeria.
And for these pizzerias, CEO Ilir Sela mentioned Slice helps to digitize their entire enterprise by additionally creating an internet site, enhancing their search engine optimization and even permitting them to learn from the “economies of scale” of the bigger community, by bulk orders of provides like pizza containers.
Sela contrasted his firm’s method with different the favored meals supply apps that he characterised as aggregators. For one factor, Slice “anchors” your favourite pizzerias within the app, giving them the highest spots and making it straightforward to position your common order with just some faucets. And it is going to be including extra loyalty options quickly.
“Our job is to make loyal clients much more loyal,” he mentioned.
Everyone loves pizza, together with VCs
In addition, whereas there’s been elevated criticism of the excessive charges charged by companies like Grubhub, Sela mentioned Slice’s price is capped at $2.25 per order, permitting pizzerias to get all of the upside from massive orders.
Of course, the atmosphere for eating places has modified dramatically in the previous couple of months, because of COVID-19. But most pizzerias are already arrange for takeout and supply, and Sela mentioned that greater than 90% of the 12,000-plus pizzerias that work with Slice have stayed open.
He additionally pointed to the corporate’s Pizza vs Pandemic initiative, which raises funds for pizzerias to feed healthcare staff. The program has raised greater than $470,000 and fed an estimated 140,000 staff.
“Local unbiased pizzerias have been feeding Americans throughout communities for many years and we’re excited to place our sources behind Slice as they assist to maneuver these companies on-line,” mentioned KKR Principal Allan Jean-Baptiste in a press release. “Slice costs small enterprise house owners a fraction of the charges charged by meals supply apps and provides a set of vertical particular options to unravel the challenges confronted by unbiased pizza makers.”
Slice had beforehand raised $30 million, in line with Crunchbase. Sela mentioned he’ll be utilizing the brand new funding to deliver on extra pizzerias and proceed constructing a “vertically built-in answer for the small companies, with a view to clear up an increasing number of of their challenges.”
Slice makes it straightforward so that you can order out of your favourite pizzeria