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Press Release

Phyn Appoints Mariel Devesa as Global Head of Business Development

Former Head of Innovation at Farmers Insurance Joins Team to Lead Corporate Growth

LOS ANGELES – June 12, 2018 – Phyn, the company bringing intelligent water solutions to market, today announced the addition of Mariel Devesa in the key position of Global Head of Business Development. Devesa joins Phyn from Farmers Insurance and will be responsible for leading revenue generation, business strategy and execution globally.

Devesa’s approach to technology leadership combines her deep knowledge of insurtech and IoT with her extensive skill sets in identifying innovative solutions, anticipating cultural shifts and maximizing new growth opportunities. At Phyn, she will utilize her expertise to generate new business and expand the company’s offerings to multiple sectors including insurance.

“I’ve seen firsthand the challenge of finding a solution to the multi-billion dollar problem of residential water leaks. Phyn’s laser focus on mitigating this damage, and their ability to bring solutions to market quickly make this an exciting opportunity for me,” stated Devesa. “Phyn’s technology is unparalleled and has the potential to truly transform homeowners’ relationship with the water in their homes from both the conservation and loss prevention sides.”

Most recently, Devesa served as head of innovation at Farmers Insurance where she oversaw the development of business relationships, product and offering implementations. She addressed changes in the new economy through developing new revenue streams, improving the customer experience and creating operational efficiencies. She has directly developed and led programs that generated in excess of $500 million in annual revenue. During her tenure, she was responsible for many firsts for the insurance industry, including coverage for rideshare drivers as well as partnerships with Uber, Tesloop, TrueCar and many others.

“Mariel has an incredible track record of leading growth strategies throughout her career,” added Ryan Kim, CEO of Phyn. “We are thrilled to have her join the Phyn family and look forward to working with her as we continue to expand Phyn into the mainstream while opening up new business opportunities that help us deliver our industry leading solutions further into the areas that can benefit the most from it.”

Phyn’s first product, the Phyn Plus Smart Water Assistant + Shutoff, is now available in over 30 target markets in the U.S. and Canada. Installed on single location on the main water line, Phyn Plus protects and monitors a home’s entire plumbing system to automatically detects leaks and plumbing issues, and in the event of a catastrophic leak, shut off the main water supply to prevent costly damage. Phyn Plus is available for purchase for $850 exclusively through the Uponor Pro Squad, a nationwide network of expertly trained plumbers and water specialists.

About Phyn

Phyn is bringing intelligent water 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 is backed by Belkin International, a global leader in consumer technology, Networking, Smart Home and Smart City, and Uponor, a leading provider of plumbing for residential and commercial spaces worldwide with North American headquarters located in Apple Valley, Minn. The parent company Uponor Corporation is listed on Nasdaq Helsinki, Finland. Phyn is headquartered in Torrance, Calif. To learn more, visit www.phyn.com.

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