Deem Snags $50M

San Francisco-based Deem, a provider of cloud services around the travel, mobile, business, and consumer business, has raised $50M in an expansion capital funding, the company said yesterday. The funding came from Hony Capital, a private equity fund based in China. Deem said the move follows a recap from PointGuard Ventures and mutual funds of the company. Deem is led by Patrick Grady. The company provides travel, expense, and purchase apps all tied into marketing partners. More information »