Phyn Acquired by Investment Group Led by Property Brothers' Jonathan Scott to Accelerate Growth in Smart Water Solutions
LOS ANGELES, May 23, 2025 /PRNewswire/ -- Phyn, the industry leader in intelligent water solutions, has been acquired by a powerhouse group of investors led by entrepreneur and television personality Jonathan Scott. This strategic acquisition transitions Phyn from Belkin's ownership to a newly independent company backed by a high-profile group of investors with deep experience in technology, real estate and entertainment united in their vision to make Phyn's category-defining solutions a standard in every home and building.
The move marks a pivotal new chapter for Phyn, positioning the company for rapid expansion, heightened consumer awareness and deeper adoption across key market verticals including insurance, property management, building, utilities and home services. The investor group includes:
Jonathan Scott, co-founder and CEO of leading lifestyle brand Scott Brothers Global, producer/host of The Property Brothers on HGTV, co-founder of an award-winning entertainment production company Scott Brothers Entertainment, and designer of over 12,000 products in the home space through his Scott Living and Drew & Jonathan Home brands brings brand-building expertise and a personal passion for smart home innovation.
Tom Proulx, a pioneer in the consumer software industry, co-founder of Intuit and author of the largest-selling personal finance product in the world, Quicken, will serve as an advisor and board member, lending his decades of experience in software development and building consumer-focused technology brands.
David Marquardt, one of Silicon Valley's most accomplished venture capitalists and founding partner of Technology Venture Investors (the sole venture backer of Microsoft) and August Capital, brings to Phyn a strong personal conviction in its potential and positions the company to benefit from his deep strategic insight and decades of experience scaling market-leading businesses.
Allen Sands, founder of ICON Builders, a national leader in occupied affordable and multi-family housing, brings a direct path to scale through ICON's strong footprint and trusted relationships with developers and trade professionals. After experiencing the high cost of water damage firsthand, ICON actively sought a proven, scalable solution and ultimately chose Phyn following extensive research and testing. ICON's sales and operational infrastructure will help expand Phyn's reach across the builder and multi-family segments and grow Phyn's Preferred Installer Network.
"As someone who's renovated more than a thousand homes, I've seen the damage a hidden leak can cause," said Jonathan Scott. "I've used Phyn in my own homes for years, and it's hands-down the best smart water tech on the market. It's reliable, easy to use, and does more than any other system to accurately detect and stop damage before it starts. Everyone I know has been affected in some way by an unfortunate water event, whether it's a flood from a disconnected water line, a pinhole leak inside the walls, or simply the kids leaving the tap on! With Phyn, home floods can be a thing of the past with a simple and affordable solution. One day, we will look back and count technologies like Phyn among everyday no-brainer safety devices like smoke detectors and seatbelts. This is the kind of technology I believe every homeowner deserves, and I'm excited to actively support Phyn in becoming a household name and protecting homes everywhere."
"This marks a transformative milestone for Phyn," said Ryan Kim, CEO of Phyn. "We're thrilled to have the backing of such an accomplished and visionary group of investors who have built iconic brands and scaled companies to global prominence. Their belief and commitment to Phyn underscores the strength of our mission, market-leading technology and world-class team behind it. With their strategic support, we're poised to elevate awareness, accelerate our growth and bring peace of mind to more households and commercial buildings worldwide by stopping unnecessary losses from catastrophic water damage."
The timing of the investment comes as smart water management is becoming a must-have in homes. Water damage is now a leading cause of property insurance claims, costing billions annually. Insurers, municipalities and homebuilders are responding with policies and programs that require or incentivize leak detection devices, particularly those with automatic shutoff capabilities like Phyn. The company's vast partner network includes leading insurance providers, utilities and municipalities, including Nationwide, Chubb, PURE, Cincinnati Financial, Iplex Australia, and many others.
Phyn's unique approach to utilizing ultrasonic technology with no moving parts means it will not wear out or break down over time with mineral deposits, making it a long-lasting solution for homeowners. The Phyn system also incorporates patented high-definition pressure sensing and a single AI-driven shut-off solution that goes on the main water line and covers the entire home, unlike many competitor products which only monitor single fixtures. Phyn-protected households are shown to be 99% less likely to experience a non-weather water leak claim, highlighting the company's role in enhancing home safety and helping reduce insurance costs.
Phyn is a category leader in intelligent water solutions, offering a suite of award-winning products ranging from the DIY-installed Phyn Smart Water Assistant and Smart Water Sensor to the professionally installed Phyn Plus with a built-in shutoff valve. At the core of Phyn is its proprietary fusion of ultrasonic flow sensing, HD pressure wave analysis and industry-leading AI that delivers unmatched accuracy and continues to set the benchmark for the industry, virtually eliminating false positive alerts. With its new ownership structure, Phyn gains not only the financial resources but also an elite network of advisors and operators to accelerate Phyn's growth across key consumer and B2B channels.
About PhynPhyn is the leading intelligent water brand, bringing solutions to market that help people protect their homes, conserve water and save money. Built upon nearly a decade of research and patented technological innovation, Phyn is poised to change the way consumers interact with water and help solve the major challenges threatening the world's supply of clean, healthy water. Phyn has been widely recognized for its innovation, including honors from the Red Dot Awards, SXSW Innovation Awards, Core 77 Design Awards, IoT World Awards, CES Innovation Awards and GreenBuilder's Sustainability Awards, among others. To learn more, visit www.phyn.com.
PR Contact Zella Panossian Illume PR for Phyn phyn@illumepr.com
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