World funding agency KKR is betting on the pizza enterprise — it simply led a $43 million Collection C funding in Slice.
Previously often known as 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 stated Slice helps to digitize their complete enterprise by additionally creating an internet site, enhancing their web optimization and even permitting them to profit from the “economies of scale” of the bigger community, by means of 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 put your common order with just some faucets. And will probably be including extra loyalty options quickly.
“Our job is to make loyal prospects much more loyal,” he stated.
As well as, whereas there’s been elevated criticism of the excessive charges charged by companies like Grubhub, Sela stated Slice’s charge is capped at $2.25 per order, permitting pizzerias to get all of the upside from giant orders.
After all, the atmosphere for eating places has modified dramatically in the previous couple of months, because of COVID-19. However most pizzerias are already arrange for takeout and supply, and Sela stated 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. This system has raised greater than $470,000 and fed an estimated 140,000 staff.
“Native unbiased pizzerias have been feeding Individuals throughout communities for a long time and we’re excited to place our sources behind Slice as they assist to maneuver these companies online,” stated KKR Principal Allan Jean-Baptiste in a press release. “Slice expenses small enterprise homeowners a fraction of the charges charged by meals supply apps and affords a collection of vertical particular options to resolve the challenges confronted by unbiased pizza makers.”
Slice had beforehand raised $30 million, in line with Crunchbase. Sela stated he’ll be utilizing the brand new funding to deliver on extra pizzerias and proceed constructing a “vertically built-in resolution for the small companies, so as to resolve extra and extra of their challenges.”