Slice has recently announced its emergence from stealth mode with a significant $7m seed funding round.
The round was led by TLV Partners, with contributions from R-Squared Ventures, Jibe Ventures, and leading international law firms Wilson Sonsini, Fenwick & West, along with notable angel investors.
This new platform stands out as the only global equity platform that employs artificial intelligence (AI) to ensure continuous compliance across borders.
The company’s innovative platform serves as a vital co-pilot for CFOs, streamlining the complex and time-consuming process of issuing equity to global teams. By simplifying compliance with local laws and tax regulations, Slice aims to protect companies and employees from potential financial penalties. This is increasingly important as workforces become more global and equity becomes a crucial part of competitive compensation packages.
Slice’s mission is to assist CFOs and companies in managing equity for their international employees efficiently. Leveraging AI, the platform navigates the complexities of ever-changing regulations and tax codes across multiple jurisdictions. It ensures that all global equity operations are compliant and tax-optimized, thereby maximizing the benefits for both employers and employees.
The company plans to use the newly acquired funds to further develop its platform and expand its market reach across the US and Europe. By doing so, Slice aims to address the global complexities of equity grants, providing a solution that has been lacking in the CFO stack.
In a statement, Slice CEO Maor Levran said, “Having spent 13 years as a corporate lawyer, I saw companies struggle to grant and manage equity to their international employees. I recognized the almost impossible task they faced of understanding and applying the complex and constantly changing law and tax regulations in various countries, and know of individual fines reaching well over $200K due to mistakes being made.
“We’ve built a co-pilot for CFOs for equity management that is capable of handling months of complex work they’d normally request from local lawyers and tax advisors in a matter of minutes. This equates to a substantial saving on time and costs, and also helps avoid distress employees may experience over potential penalties. Slice is the first equity compliance platform that empowers companies and their employees to optimize the value of global equity without fear of compliance or tax issues, a problem that nearly all companies will encounter when issuing stock options.”
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