Cobalt Robotics secures significant Series B funding with Coatue

Cobalt Robotics is a physical security service provider that builds indoor autonomous robots to make security and facility operations more effective. The company has announced that it has raised US$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 Capita, 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 US$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 organisations 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 US$13 million Series A funding announcement in March 2018, Cobalt has deployed security and facilities management services to clients in various sectors (Technology, Defence, Finance and Manufacturing) across a variety of organisational 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.

“We believe Cobalt’s robotic security guards are revolutionising 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 Robotics, visit https://www.cobaltrobotics.com.