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KKR-backed pizza platform Slice raises $40 million in latest funding round

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SLICE-INVESTMENT
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(Reuters) - Slice, an online ordering platform which helps small pizzerias compete with large chains, said on Wednesday it raised $40 million in its latest funding round led by Cross Creek, with participation from two former Twitter Inc executives.

01 Advisors' Dick Costolo and Adam Bain, who previously served as Twitter's chief executive and chief operating officers, respectively, joined in the funding round with existing investors KKR & Co Inc, GGV Capital and Primary Ventures.

The new funding follows the $43 million investment led by KKR last year in May.

Slice will use the cash to expand its products and scale its ongoing program, Slice Accelerate, which supports shops with technology and services worth $15,000 each.

"Slice has emerged as the leader in powering these types of small businesses that have been serving our communities for decades," Bain, co-founder of 01 Advisors, said.

Slice's valuation following the deal was not disclosed.

(Reporting by Akriti Sharma in Bengaluru and Chibuike Oguh in New York; Editing by Krishna Chandra Eluri)