Worldwide funding company KKR is betting on the pizza enterprise — it merely led a $43 million Sequence C funding in Slice.
Beforehand usually referred to as MyPizza, Slice has created a mobile app and site the place diners can order a personalized pizza provide from their native, unbiased pizzeria.
And for these pizzerias, CEO Ilir Sela talked about Slice helps to digitize their full enterprise by moreover making a site, bettering their search engine advertising and marketing and even letting them revenue from the “economies of scale” of the larger neighborhood, by way of bulk orders of offers like pizza containers.
Sela contrasted his agency’s methodology with completely different frequent meals provide apps that he characterised as aggregators. For one issue, Slice “anchors” your favorite pizzerias inside the app, giving them the very best spots and making it simple to place your frequent order with just a few taps. And can most likely be together with additional loyalty choices shortly.
“Our job is to make loyal prospects far more loyal,” he talked about.
In addition to, whereas there’s been firms like Grubhub have confronted criticism for his or her steep expenses, Sela talked about Slice’s fee is capped at $2.25 per order, allowing pizzerias to get all the upside from big orders.
In spite of everything, the setting for consuming locations has modified dramatically in the last few months, attributable to COVID-19. Nevertheless most pizzerias are already organize for takeout and provide, and Sela talked about that higher than 90% of the 12,000-plus pizzerias that work with Slice have stayed open.
He moreover pointed to the company’s Pizza vs Pandemic initiative, which raises funds for pizzerias to feed healthcare workers. This method has raised higher than $470,000 and fed an estimated 140,000 workers.
“Native unbiased pizzerias have been feeding Individuals all through communities for a few years and we’re excited to position our belongings behind Slice as they help to maneuver these firms on-line,” talked about KKR Principal Allan Jean-Baptiste in an announcement. “Slice bills small enterprise householders a fraction of the fees charged by meals provide apps and offers a set of vertical explicit choices to resolve the challenges confronted by unbiased pizza makers.”
Slice had beforehand raised $30 million, based mostly on Crunchbase. Sela talked about he’ll be using the model new funding to convey on additional pizzerias and proceed developing a “vertically built-in reply for the small firms, as a technique to resolve more and more extra of their challenges.”