Dick Costolo

By Joi Ito - Flickr, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=13444464

Former Twitter Executives Are Latest Investors in Slice

Dick Costolo and Adam Bain, formerly leaders at Twitter, cofounded 01 Advisors and will help guide the tech platform to further growth.

  • Dick Costolo, former CEO of Twitter, and Adam Bain, Twitter’s ex-COO, have invested in pizza-centric tech platform Slice through 01 Advisors.
  • The latest investment of $40 million will allow Slice to tap into the expertise of 01 Advisors as it develops more solutions for its partner pizzerias and expands its product roadmap.

Related: Slice’s new platform gives independent pizzeria operators the same tech advantages as Domino’s franchisees

Former Twitter CEO Dick Costolo and COO Adam Bain of 01 Advisors are among the latest investors in Slice, the tech platform powering the largest network of pizzerias nationwide. This latest investment of $40 million in Series D funding was led by Cross Creek with participation from existing investors, including GGV Capital, KKR and Primary Ventures, according to a press release from Slice.

This insider-led round allows Slice to tap into the expertise of 01 Advisors as the company continues to invest in vertical solutions for its partner shops, expand its product roadmap and scale Slice Accelerate, an ongoing program, inspired by the constraints of COVID-19, that bolsters shops with $15,000 each worth of technology and services.

Related: Slice announces first 15 partners to participate in Slice Accelerate initiative

“We are excited to welcome Adam Bain and Dick Costolo from 01 Advisors as investors and welcome their support as we continue to make strategic investments to keep local thriving,” said Ilir Sela, CEO and founder of Slice. “We are so grateful to Cross Creek for leading this round and giving us the opportunity to bring on the 01 team as we enter this next stage of growth and continue to double down on our mission.”

“Slice has emerged as the leader in powering these types of small businesses that have been serving our communities for decades,” said Adam Bain, co-founder and managing partner of 01 Advisors. “We look forward to working with Ilir and the incredible team at Slice to marry our significant operating and business-scaling experience with Slice’s focus on enabling economic growth in this category.”

Local pizzerias have long been at the heart of American communities, but they lack the resources to compete with large chains for today’s digitally-minded consumers. With more than 15,000 local pizzerias in its network—more than double the U.S. footprint of Domino’s—Slice’s core mission is to keep local businesses thriving by offering the same specialized technology, marketing, data insights, shared services and guidance that pizza franchises offer franchisees.

Slice Register and Slice Rewards are the latest examples of the tools Slice has launched in 2021 to help shops build their digital market share and eliminate dependence on third-party delivery apps.

“Slice has an incredibly impressive track record in investing in the success of independent pizzerias while better serving consumers,” said Peter Jarman, managing director at Cross Creek. “We’re thrilled to back the Slice team as they broaden the platform, scale product adoption and strengthen their lead in the market by uniting small businesses with best-in-class technology and specialized services.”