Blog

I’m Also a Customer

In early 2018, I learned about an emerging start up in the IoT water monitoring space in Toronto called Eddy. I had sold my business a few years before, subsequently transitioning into the investing/advisory world and became intrigued by the massive opportunity of the Smart Home space.
I knew nothing of the looming risk of water. With little visibility into insurance statistics, I knew nothing of mounting water damage claims, or the billions spent yearly in restoration of damages. Eddy sounded like a cool idea, so I went ahead and had the IQ installed on my home’s water main.
The App was easy to use and the installer quite nice. All in all, not a bad experience.
But it was weeks later that I understood the real value of Eddy.
I was out, and I received a call from Eddy’s monitoring center. It appeared that a major leak was detected, and the IQ had shutoff my water as a precaution. When we returned home, sure enough – a pipe had burst in my basement, and without Eddy, my entire basement would have flooded. I was hooked.
Water damage and flooding in basement - Eddy Solutions Intelligent Leak Detection Fast forward to nearly a year later. I’m now the President and CEO of Eddy, after becoming an investor and member of the board. I began my tenure in December with a goal to grow Eddy into a world leader in intelligent leak detection and protection for homes and buildings. Our suite of products provides comprehensive coverage for all types of structures, with a behavioural learning/AI system that understands each property’s unique water consumption patterns. It’s a busy time at Eddy, and we continue to grow our installation base and network each day.
After four intense months, I took a vacation, and wouldn’t you know it, my pipes leak again. Another major issue in my basement, and another crisis averted by the Eddy IQ.
It’s amazing how often these types of situations can occur. Faulty plumbing, appliance failures, leaky, frozen, and bursting pipes – you name it, we’ve seen it. In fact, our technology regularly detects more than a thousand issues a month across our customer base.
Thanks to Eddy, I didn’t return to a swimming pool in my basement – twice. Have you ever heard the phrase: “I’m not just the president, I’m a customer”? Well, I’m here to tell you, I’m not just the president, or just a customer. I’m living, breathing proof in the value our system – having personally avoided tens of thousands of dollars in damages, not once, but twice.
And you know who else loves Eddy? My insurance company.
About Travis
Eddy’s CEO and President, Travis Allan, is an experienced and driven entrepreneur and executive with significant experience creating and cultivating start-up organizations. With an MBA from Western University’s Ivey School of Business, Travis has the knowledge and background to facilitate a rapid growth in sales, profitability, investor value, and customer retention.

Share this article on

Related Articles

Eddy Win of the Week

Win of the Week – CityLights on Broadway

CityLights on Broadway by Pemberton Group seamlessly blends resort-style amenities, contemporary architecture, and the cosmopolitan vibe of the bustling Yonge and Eglinton neighbourhood. The building’s sleek and modern design, featuring

Read More
Eddy Win of the Week

Win of the Week – 75 Oneida Crescent

75 Oneida is a new condominium built by Pemberton Group in the heart of Richmond Hill at Yonge & Hwy 7. Recently, a water-detected alert was triggered by one of our sensors in the mechanical penthouse at 75 Oneida Crescent.

Read More

Win of the Week – Kingsway By The River

Developed by Urban Capital, Kingsway By The River is ideally situated in the heart of Toronto’s prestigious Kingsway neighbourhood. Creating a classic internationally-styled community on the bank of The Humber

Read More
Paul Pathak​

Director

Paul Pathak is a partner of Chitiz Pathak LLP. Paul practices principally in the areas of corporate, securities, corporate finance, mergers and acquisitions and commercial law. He represents and provides sophisticated guidance to private and public corporate clients in a broad range of industries, including mining, technology, manufacturing, venture capital and merchant banking.

George Krieser​

Director

George Krieser founded Total Credit Recovery Limited (“TCR”) in 1980 and is the President and Chief Executive Officer. TCR is the largest 100% Canadian-owned and operated collection agency, solely collecting Canadian debt. George previously served as a Director of Universal Energy. He also served as a member of the board of directors of Baycrest Foundation and as a member of the fundraising committee for UJA Federation of Greater Toronto.
Gary Goodman​
Director
Gary Goodman is a Trustee and Chair of the Audit & Risk committee of Boardwalk Real Estate Investment Trust., a former Chairman of Huntingdon Capital Corp., trustee of Gazit America & Brightpath Early Learning, and is a member of the advisory boards of the Vision Funds. Gary was previously Executive Vice President of Reichmann International where he served as a senior financial executive and trusted advisor for over 30 years.

Chris Gower

Director

Chris Gower started his career in construction on the tools – framing houses, where he grew a deep appreciation for the trades. Prior to his current role as Chief Operating Officer, Buildings at PCL Construction (“PCL”), Chris held positions including construction risk manager, senior project manager, district manager and regional vice president. Throughout his more than 25 years at PCL, he has delivered iconic construction projects across Canada, Australia and the United States.

June Thomson

EVP, Sales, Marketing
& Business Development

June joined the Eddy team coming from Enercare after 10+ years in various roles, most recently as Vice President of the North American Builder Division. June has been in the HVAC industry for over 41 years, holding several roles throughout her career from Technician to Provincial Offences Officer.

Saj Khan

COO & President

Sajid Khan helped launch Eddy Solutions and has been in the role of Chief Operating Officer since inception. With more than 20 years of leadership and operational experience in the home services sector, Saj has held roles such as COO of Eco Energy Service, Vice President of Operations at both National Home Services and Universal Energy.

Boris Baril

CFO

With more than 25 years of financial experience, Boris has held both public and private company CFO roles; supported two (TSX listed) initial public offerings (IPOs), debt and equity capital raises, and M&A transactions. Boris graduated from York University and is a CPA, CA.

Mark Silver

CEO & Chairman

Mark L. Silver is President of Optus Capital Corporation. Mr. Silver has made significant real estate investments in both development stage and income producing properties in the residential, commercial and industrial sectors over his 35 year business career. Over the last 22 years, these investments have been made through his company, Optus Capital Corporation. Mr. Silver was a founding partner and Chief Executive Officer of Universal Energy which was sold in 2009 to Just Energy Group Inc. He co-founded Direct Energy Marketing and grew the company to over $1.3 billion in revenues before selling to Centrica PLC (also known as British Gas) in 2000.