It’s not just about the Benjamins — especially in the context of executive compensation, but increasingly for all employees worldwide.
During the first dot-com boom in the 1990s, equity became an essential component of new hire packages across various levels, as noted by Matt Simon at MyStockOptions.com. This trend has particularly resonated in tech firms and startups, even amid downturns in the overall value of equity awards.
But the central challenge remains: how can companies effectively allocate equity to support business success while adhering to local laws? A pressing concern for employees is also how to track and understand their equity awards and vesting schedules.
Enter Slice, a startup based in Tel Aviv and San Francisco, which recently emerged from stealth mode with $7 million in seed funding. Slice seeks to address these issues by providing an automated solution for global equity management, tailored for finance departments and their employees.
Founded by Maor Levran, Aviram Berg, and Yoel Amir, Slice presents an AI-powered platform designed to streamline the equity issuance process, ensure compliance with local regulations, and optimize tax benefits.
The seed funding round, led by TLV Partners and supported by R-Squared Ventures, Jibe Ventures, leading law firms Wilson Sonsini and Fenwick & West, along with notable angel investors, marks a significant advancement in simplifying equity distribution across diverse jurisdictions.
The Equity Award Dilemma
Equity compensation can take multiple forms, including stock options, restricted stock units (RSUs), and employee stock purchase plans (ESPPs). Each type comes with distinct benefits and challenges for both employees and employers. Navigating this landscape and ensuring legal compliance can often be overwhelming.
Historically, equity packages have been around for over 70 years, playing a crucial role in transforming Silicon Valley into a global powerhouse. Despite their prevalence, Levran points out that “no solution has been developed to address the intricate tax laws and regulations that vary by country."
How Slice Leverages AI for Finance Teams and Employees
Slice provides a “Global Equity Assurance Platform” equipped with generative AI, enabling CFOs and finance teams to create, issue, track, and manage equity awards in line with local regulations. The platform already includes compliance data from 23 countries, with plans to cover 100 by year-end, allowing finance teams to efficiently generate the necessary documentation according to regional tax treatments.
“We meticulously navigate through regulations to ensure compliance and generate tailored equity award documentation,” Levran explained.
Even as tax laws frequently change globally, Slice keeps its clients compliant by collaborating with leading law firms to stay abreast of the latest developments.
“We continuously update our software based on this data,” said Amir, the Chief Product Officer. “We rigorously verify all outputs from our models.”
For employees, Slice offers a chatbot named “MySlice Chat,” which answers personalized queries about their equity, such as current value and vesting timelines.
Integrating seamlessly with various workplace applications, including Google Workspace, ADP, Deel, and Workday, Slice helps finance teams complete equity management tasks in minutes rather than months.
Additionally, Slice has already demonstrated its value to early clients, saving them substantial funds by catching errors in equity proposals before issuance.
Endorsements from Industry Experts
The potential of Slice’s platform to revolutionize global compensation strategies has garnered support from industry veterans. Shawn Lampron from Fenwick & West and Eitan Bek from TLV Partners have praised the company’s innovative approach. Eynat Guez, CEO of Papaya Global and an angel investor in Slice, acknowledges the platform’s ability to navigate the complex legal and tax issues related to global equity.
The recent funding will enable Slice to further develop its platform and expand its market presence, particularly in the U.S. and Europe.
For organizations grappling with global talent management challenges, Slice offers an effective solution for equity compliance and taxation. As it evolves, the platform aims to become an invaluable resource for finance and HR departments managing equity compensation at all levels.
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