Phyn Acquired by Investment Group Led by Property Brothers’ Jonathan Scott to Accelerate Growth in Smart Water Solutions
LOS ANGELES – TBC – 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.
2025-05-23
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 of Scott Brothers Global and producer/host of The Property Brothers on HGTV, brings brand-building expertise and a personal passion for smart home innovation. ● Tom Proulx, co-founder of Intuit and creator of 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 respected venture capitalists and a founding investor in Microsoft, brings deep expertise in scaling transformative tech companies. ● ICON Builders, led by Allen “Kelly” Sands, is a national leader in multifamily development. A longtime Phyn customer, ICON will play a critical role in helping to expand Phyn’s reach across the builder and multifamily sectors.
“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. 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 in Phyn underscores the strength of our mission, market-leading technology and solutions. With their strategic support, we’re poised to accelerate our growth, elevate consumer awareness, and bring peace of mind to more households worldwide by stopping catastrophic losses from water damage.”
The timing of the investment comes as smart water management becomes a must-have. 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 among many others. In a multi-year study of 13,500 homes, Phyn-protected households were shown to be 99% less likely to experience a non-weather water leak claim, underscoring the company’s impact on both home safety and insurance risk mitigation.
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. With this new structure, Phyn gains not only financial resources, but also an elite network of advisors and operators to accelerate growth across key consumer and B2B channels.
About Phyn Phyn 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.
