Deem was a mobile-first connectivity and identity platform that turned a phone number into a universal, passwordless key to digital experiences. It linked a phone number to a device via SIM authentication, the user to the device via local biometrics, and the device to an OAuth provider to enable single sign-on, reduce fraud and account takeover, lower payment fees, and connect blockchain wallets. Originally launched as Redeem, a blockchain-agnostic connectivity layer for Web3 leveraging phone numbers to send, receive, and redeem utility NFTs across ticketing, loyalty, gaming, and live events. Founded by serial entrepreneur Toby Rush (founder of EyeVerify). The company wound down in 2023 amid the Web3 market slowdown.
Deem has been acquired
This company is no longer available on our private secondary market.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2022
Employees
201–500
Total Funding
$2.5M
5 rounds
Latest Valuation
$1.4B
2020
Total raised $2.5M across 5 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 06-23-2026
Latest Round
Type
Late stage
Date
2020
Amount
Not disclosed
Valuation
$1.4B
Lead Investors
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| 2020 | Late stage | Not disclosed | $1.4B | Not disclosed |
| 2013 | Series F | $70M | — | Foundation Capital |
| 2008 | Series E | $100M | — | American Express |
Toby Rush
CEO & Co-Founder
Competitor list is illustrative and may be incomplete, stale, or erroneous.
SAP Concur
Market-leading travel and expense management software platform; largest player in T&E with broad enterprise corporate-booking footprint.
Navan (formerly TripActions)
Modern corporate travel and expense management platform with integrated booking, payments, and AP automation; private unicorn competitor to Deem in mid-market and enterprise corporate travel.
Amex GBT Egencia
Corporate travel management platform owned by American Express Global Business Travel (acquired from Expedia in 2021); targets enterprise and mid-market customers with full-service managed travel.
TravelPerk
Barcelona-based corporate travel booking and management software focused on SMB and mid-market global business travel.
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