Cobalt Robotics Secures Series B Funding with Coatue
The round will expand Robots-as-a-Service throughout the 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.
About Cobalt Robotics
Cobalt Robotics is the trusted security partner making organizations in every sector more safe, secure and productive. Offering a remote security operations center combined with on-premises security robots, Cobalt's unique Robots-as-a-Service model unites all the benefits of a machine with the flexibility, responsiveness, and empathy of a human being. The company is backed by world-class investors including Coatue, Sequoia Capital, and Bloomberg Beta. For more information, please visit cobaltrobotics.com.
Featured Product
Midwest Motion Products is a leading provider of robust and reliable Motion Control Products.
MMP specializes in supplying high-quality Brushed & Brushless DC Motors & Gearmotors for Robotics and Automation Equipment with a wide range of motor windings and gear ratios. With an impressive track record of more than 8,000 released DC Gearmotors designs and over 2,000,000 individual part numbers, we are renowned for our ability to handle large-scale orders. Due to our huge on-hand inventory, we are also well known for lightning-fast delivery of our standard products. We take pride in our dedicated customer service and our team of knowledgeable sales and engineering experts who are ready to assist you with custom design solutions tailored to your specific application. Additionally, we also offer a wide range of complimentary products, such as DC Motor Controls, DC Linear Actuators, AC-DC power Supplies, and DC Servo Amplifiers and others.