US-based internet of things technology developer ConnectedYard closed a $7m series A round on Friday from a consortium that included chemical supplier Lonza.
Playground Global and Tandem Capital returned for the round. Playground previously led a $2.2m seed round in September 2015 that also featured Tandem.
ConnectedYard has developed product dubbed pHin Smart Water Care (pictured) that facilitates water quality control of pools and hot tubs through a connected monitor and smartphone app. Users are sent notifications when water chemistry needs adjusting and are given doses for chemicals.
The cash will help ConnectedYard accelerate its technology development, attract more customers and scale its business. The company also plans on boosting its retail sales and expand internationally. Lonza will serve as a strategic market partner.
Christian Wichert, senior vice-president for water treatment at 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 favourite retailer.”
Justin Miller, co-founder and chief executive of ConnectedYard, said: “We have 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.
“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.”
– Image courtesy of ConnectedYard