ConnectedYard Secures $7 Million in Series A Funding
PALO ALTO, Calif., Dec. 2, 2016/PRNewswire/ ConnectedYard, an innovator in smart technology and the Internet of Things (IoT), today announced it has closed $7 million in Series A financing. A new investor in this round is one of the world's top suppliers to the pharmaceutical, biotech and specialty ingredients markets. Existing investors, Playground Global and Tandem Capital, participated in the round.
Funding from this round will enable ConnectedYard to accelerate investment in its technology, grow its customer base and aggressively scale the business to meet growing demand for the pHin Smart Water Care solution, a smart home technology that is reinventing pool and hot tub care. In addition, the funding will enable ConnectedYard to grow retail sales and bring the pHin solution to international markets.
"We've seen tremendous market response and enthusiasm for the pHin Smart Water Care solution from consumers, pool and spa retailers, big box retail stores and pool technicians alike who want to radically simplify the maintenance of their pools and hot tubs," said ConnectedYard Co-Founder and CEO Justin Miller. "This funding will enable us to move quickly to scale our business to meet demand, further invest in our innovative technology, and bring pHin to new markets around the world."
Lonza, one of the world's leading and most-trusted suppliers to the pharmaceutical, biotech and specialty ingredients markets, is one of ConnectedYard's investors and will be ConnectedYard's strategic market partner. Lonza has a broad water treatment portfolio that includes leading consumer brands for residential pool and spa disinfection as well as algae control such as HTH , BAQUACIL , BAQUA Spa , Brilliance for Spas, Leisure Time , POOLIFE , GLB and Pulsar . Christian Wichert, SVP Water Treatment for Lonza, said, "We continue to invest in innovative technologies for the water industry. As a complement to our well-recognized Lonza chemicals, the pHin solution will meet the various needs and desires of pool and spa owners including the ability to purchase Lonza chemicals at the pool owner's favorite retailer."
pHin combines a bluetooth and WiFi-enabled water monitor along with a mobile app to take the guesswork out of pool and hot tub care. Notifications are sent to the app when water chemistry needs rebalancing, including dosing instructions for the amount of chemicals or pre-measured, single-dose, color-coded pods to add. The pHin Mobile App also provides one-touch, on-demand access to the Pool Service on Demand network of pre-qualified pool service technicians.