Cobalt Robotics Secures Series B Funding with Coatue

Cobalt Robotics Secures Series B Funding with Coatue

Cobalt Robotics announced it has raised $35 million in Series B financing. The financing was led by global technology investment firm, Coatue, and is intended for geographic expansion of services throughout the domestic United States.

Cobalt Robotics is a physical security service provider that builds indoor autonomous robots to make security and facility operations more effective. Today, the company announced that it has raised $35 million in Series B financing. The financing was led by global technology investment firm, Coatue, and is intended for geographic expansion of services throughout the domestic United States.

“Security is fundamentally about trust and reputation, and it needs to be reinforced across all aspects of the company: founders, employees, technology, and financial backers. Our financial backers—such as Bloomberg Beta, Sequoia Capital, and now Coatue—have been instrumental to our success so far, and they will be instrumental in our next phase of growth too,” said Dr. Travis Deyle, Cobalt CEO. “Our goal is to combine the best parts of machines (unwavering attention, perfect recall, and super-human sensing) with the best aspects of people (warmth, responsiveness, and adaptability) to create service robots that dramatically improve the quality of life for everyone and fundamentally redefine the modern workplace.”

The physical security market is predicted to reach nearly $119.4 billion in 2023. Security robots are an innovative new tool within the industry that enhance security programs by bridging the gap between traditional technologies and services such as cameras, access control, and manned guards. Cobalt’s Robots-as-a-Service model combines autonomous patrolling robots with human specialists, enabling organizations to provide a 24-hour security solution that complements existing security assets like manned security guards and access control systems (ACS). The result is a highly effective security program with significant cost-savings and robots that remain up-to-date with the latest and greatest software.

Since its $13 million Series A funding announcement in March 2018, Cobalt has deployed security and facilities management services to clients in various sectors (Technology, Defense, Finance, and Manufacturing) across a variety of organizational sizes (small startups to marquee Fortune 50 companies). This year, Cobalt introduced its new door integration capability that enables robots to seamlessly pass through areas closed off by a door using wireless technology to communicate with access control readers—a first for the industry. In addition to its client base, Cobalt has expanded its engineering and operations teams and enhanced its security and facilities teams, bringing its unparalleled customer service and performance to new markets.

Today’s organizations face several physical security challenges—cost-effectively protecting people, assets and intellectual property while ensuring the seamless flow of operations. Cobalt combines its autonomous mobile robots with highly trained remote personnel to provide a new level of situational awareness and real-time response. Cobalt’s robots patrol the workplace, leveraging AI to detect anomalies—open doors, environmental risks or malicious intruders—and then Cobalt’s security specialists can respond in real-time to address any event—whether it’s related to security, facilities or customer service. This unique human-in-the-loop model has enabled Cobalt to position itself as a key player in the physical security arena.

“We believe Cobalt’s robotic security guards are revolutionizing the security services space and providing an unmatched experience for customers,” said Kris Fredrickson, Partner at Coatue. “In addition, we have been thoroughly impressed with the team’s philosophy that a great physical security service should positively impact not only the company’s operations but its culture as a whole.”

For more information about Cobalt, visit https://www.cobaltrobotics.com.

Featured

New Products

  • HD2055 Modular Barricade

    Delta Scientific’s electric HD2055 modular shallow foundation barricade is tested to ASTM M50/P1 with negative penetration from the vehicle upon impact. With a shallow foundation of only 24 inches, the HD2055 can be installed without worrying about buried power lines and other below grade obstructions. The modular make-up of the barrier also allows you to cover wider roadways by adding additional modules to the system. The HD2055 boasts an Emergency Fast Operation of 1.5 seconds giving the guard ample time to deploy under a high threat situation.

  • 4K Video Decoder

    3xLOGIC’s VH-DECODER-4K is perfect for use in organizations of all sizes in diverse vertical sectors such as retail, leisure and hospitality, education and commercial premises.

  • Unified VMS

    AxxonSoft introduces version 2.0 of the Axxon One VMS. The new release features integrations with various physical security systems, making Axxon One a unified VMS. Other enhancements include new AI video analytics and intelligent search functions, hardened cybersecurity, usability and performance improvements, and expanded cloud capabilities