In the fast-paced world of technology and startups, equity compensation has long been a key component of employee benefit packages. However, ensuring that equity is distributed wisely and tracked properly has always been a challenge for companies. That’s where Slice comes in. This new startup, based in Tel Aviv, Israel, and San Francisco, California, aims to simplify global equity management with its AI-powered platform.
Slice, founded by Maor Levran, Aviram Berg, and Yoel Amir, has recently secured $7 million in seed funding from investors such as TLV Partners, R-Squared Ventures, Jibe Ventures, and prominent law firms Wilson Sonsini and Fenwick & West. With this funding, Slice plans to address the complexities of equity distribution across different countries, states, and governing entities.
Equity compensation has been around for over 70 years and has played a significant role in the growth of Silicon Valley. However, complying with the complex tax laws and regulations of each country has always been a challenge. That’s where Slice’s AI-powered platform comes in. Designed for CFOs and finance teams, Slice’s “Global Equity Assurance Platform” allows them to create, issue, track, and monitor equity awards while complying with applicable regulations.
Slice’s platform contains a vast array of data on 23 countries’ regulations, with plans to expand to 100 countries by the end of the year. The platform can automatically generate the correct documentation for each region, tailored to their specific tax treatments and regulations. Even if tax laws change, Slice can keep its customers in compliance by working with top-tier law firms to stay updated on the latest regulations.
For employees, Slice offers a generative AI-powered chatbot called “MySlice Chat.” This chatbot allows employees to ask personalized questions about their equity, such as its current value and when it vests. By integrating with popular workplace apps used by finance teams, Slice enables them to handle equity management tasks that would typically take months in just minutes.
Not only does Slice streamline the equity distribution and tracking process, but it also saves companies money. By catching mistakes in equity award proposals before they are finalized, Slice saved two of its customers nearly one million dollars last month alone.
Industry veterans have recognized the potential of Slice’s platform to simplify global compensation strategies. Shawn Lampron, a partner at Fenwick & West, and Eitan Bek of TLV Partners have expressed their support for Slice’s approach to global equity management. Eynat Guez, CEO of Papaya Global and an angel investor in Slice, also acknowledges the platform’s ability to tackle the intricate details of legal and tax issues related to global equity.
With its recent funding, Slice plans to further develop its platform and expand its market presence in the US and Europe. As the platform continues to evolve, it aims to provide a valuable tool for finance and HR teams dealing with equity compensation at all levels.
Overall, Slice’s AI-powered platform has the potential to revolutionize equity distribution and tracking for companies around the world. By simplifying the process and ensuring compliance with local laws, Slice is helping businesses focus on their success while providing employees with easy access to their equity awards.
