Deem Plans Growth With Backing From Enterprise
Photo Credit: A photo of Deem CEO John Rizzo. Deem
Skift Take
With support from Enterprise Holdings, Deem plans on growing and refining its existing products. On the horizon, though, lurks the promise of a new travel platform to help the company evolve in a competitive global corporate travel market.
With the news of Enterprise Holdings acquiring corporate travel veteran Deem, some questions arose about what exactly the deal would mean for one of the more established corporate travel technology companies in North America.
After a period of leadership turnover in 2016, Deem's future path was anything but clear. The company sold off various pieces of technology in an attempt to refocus and pivot away from perhaps being too big to fail into a company capable of diving deep into travel management and ground transportation.
The deal fell into place as the company was in talks for increased funding last year, according to Deem CEO John Rizzo. Enterprise Holdings, which had made a sizeable equity investment in 2016, decided to go all-in on Deem instead of contributing some more capital. Enterprise was sold on Deem's corporate travel platform, in addition to their exis
