International investment company KKR is betting on the pizza organisation– it just led a $43 million Series C financial investment in Slice.
Previously called MyPizza, Slice has created a mobile app and site where restaurants can purchase a custom pizza shipment from their local, independent pizzeria. And for those pizzerias, CEO Ilir Sela stated Slice helps to digitize their whole company by likewise creating a site, enhancing their SEO and even allowing them to gain from the “economies of scale” of the bigger network, through bulk orders of supplies like pizza boxes.
Sela contrasted his company’s method with other popular food delivery apps that he identified as aggregators. For one thing, Slice “anchors” your preferred pizzerias in the app, giving them the top areas and making it easy to put your routine order with simply a couple of taps. And it will be including more loyalty features quickly.
“Our task is to make faithful customers a lot more loyal,” he said.
In addition, while there’s been increased criticism of the high fees charged by services like Grubhub, Sela said Slice’s charge is topped at $2.25 per order, enabling pizzerias to get all the benefit from large orders.
Obviously, the environment for restaurants has actually changed significantly in the last couple of months, thanks to COVID-19. But most pizzerias are already established for takeout and shipment, and Sela said that more than 90% of the 12,000-plus pizzerias that work with Slice have stayed open.
He likewise pointed to the company’s Pizza vs Pandemic initiative, which raises funds for pizzerias to feed healthcare workers. The program has raised more than $470,000 and fed an approximated 140,000 employees.
“Regional independent pizzerias have actually been feeding Americans across communities for years and we are delighted to put our resources behind Slice as they assist to move these organisations online,” stated KKR Principal Allan Jean-Baptiste in a declaration. “Slice charges small business owners a fraction of the costs charged by food shipment apps and uses a suite of vertical specific options to fix the challenges faced by independent pizza makers.”
Slice had formerly raised $30 million, according to Crunchbase. Sela said he’ll be utilizing the new financing to induce more pizzerias and continue constructing a “vertically integrated solution for the small companies, in order to resolve more and more of their obstacles.”
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.