Slice, an internet ordering platform designed to assist small pizzerias compete with giant chains, has raised $43 million in a sequence C spherical of funding led by KKR.
The money injection comes as U.S. states continue to ease lockdown measures that have been launched in March to fight the COVID-19 disaster — whereas anticipating brick-and-mortar shops to adapt their operations to a “new normal.” This partial lifting of restrictions emphasizes social distancing by way of elevated help for deliveries and pickups and opens the door to platforms that assist companies log on.
Founded out of New York in 2009, Slice offers all of the technological infrastructure, cost programs, customer support, and advertising and marketing to assist eating places capitalize on the $46 billion U.S. pizza market. While Slice gives its personal branded app that lets prospects seek for pizzerias of their space, it additionally helps shops arrange particular person web sites to course of orders.
A devoted dashboard offers eating places information into all their orders, with extra instruments for managing promo codes, tweaking menus, setting opening hours, and so forth.
Above: Slice eating places’ personal dashboard
The firm fees a set $2.25 fee plus 4% processing payment per order, in contrast with the 20% or extra different ordering platforms might take. This can work out to fairly a considerable distinction if the typical worth of an order is over $30. Slice additionally makes cash from extra add-on companies, together with a brand new Slice Delivery service which is accessible in beta simply now for some shops which can be at present provide pickup solely.
“Because of COVID-19, the restaurant landscape is rapidly evolving,” a Slice spokesperson advised VentureBeat. “Local pizzerias with delivery are seeing 3 times the orders than pickup only shops. We’re looking to roll this [Slice Delivery] out broadly in the very near future.”
Slice had beforehand raised round $30 million, together with a $15 million tranche a yr in the past. According to the corporate’s founder and CEO Ilir Sela, Slice has seen a “significant surge in demand” throughout its platform as a result of COVID-19 disaster. As restrictions shift in lots of states, Slice is well-financed to focus on pizzerias desperate to get enterprise again up and operating. Indeed, Slice at present claims greater than 12,000 pizzeria prospects throughout the U.S., and it plans to increase its protection to extra eating places domestically and internationally.
Social distancing measures enforced by the lockdown have led to a large uptick in on-line buying, and it’s unclear whether or not this development will proceed as soon as life finally returns to regular. However, there’s no assure when that might be, and sit-down eating places may stay closed or closely restricted for fairly some time.
Uber Eats has sought to capitalize on this case by way of quite a lot of new initiatives, together with enabling phone orders for these with no smartphone, increasing help for company prospects, and making it simpler for individuals to put orders for family and friends. Meanwhile, cost processing big Square final week launched a brand new on-line checkout product that makes it simple for anybody to simply accept funds on-line, and Google is now enabling retailers to advertise if they offer curbside pickups.