Demand for AI-based automation driven by the higher cost of human labor in the robotics industry is powering Cobalt’s 979% revenue growth
FREMONT, Calif., Nov. 17, 2022 (GLOBE NEWSWIRE) — Cobalt Robotics, the only machine learning company to automate repetitive manual security and facility tasks with autonomous robots around the world, today announced it ranked No. 147 on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. Cobalt grew 979% based on percentage fiscal year revenue growth from 2018 to 2021. Cobalt also ranked No. 27 in the San Francisco Bay Area.
Cobalt is propelling the use of robots among modern enterprises as companies look to new AI-based innovations to automate security and improve safety. The security robots designed by Cobalt perform tasks with objectivity and precision in lieu of human guards. This past year, Cobalt experienced significant customer expansion and sustained explosive growth with robots now deployed on five continents. Leading enterprises and partners including Slack, DoorDash, Ally Financial, Woven Planet, Otis, Safetrust, and many others recently expanded their relationships with Cobalt demonstrating that automation in the workplace is a top to bottom priority.
“We are thrilled to be recognized by Deloitte and listed among other leading companies that have continued to excel and innovate amidst challenging economic times,” said Mike LeBlanc, President and COO of Cobalt Robotics. “AI-powered robots have really become the new standard, the new normal for security and facility maintenance, giving security teams a very dependable, efficient way to protect their assets and keep employees safe. We are extremely proud of our science and engineering teams designing the next generation of autonomous robots.”
“As the past year has shown us, innovation in important areas such as life sciences is critical to addressing infectious disease and other global health issues,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. “In addition, technology must keep pace with ever-changing consumer and corporate demands for faster, safer and more efficient solutions to new societal challenges. Each year I am in awe of the immense talent the Technology Fast 500 rankings reveal, confirming the winners’ relentless pursuit of creativity and their ability to solve real-world problems that benefit us all.”
“This year’s Technology Fast 500 list is a true reflection of some of today’s most determined and inspiring pioneers who have prospered by anticipating what’s next, understanding what’s needed to succeed and driving creativity forward,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit and assurance practice. “Representing all facets of technology, the winners have shown they not only have the vision but can also expertly manage their companies through rapid growth. We congratulate each winner on their impressive achievements.”
About the 2022 Deloitte Technology Fast 500™
Now in its 28th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2018 to 2021.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.
About Cobalt Robotics
Cobalt Robotics is the only company to automate repetitive manual security and facility tasks with an integrated service which unifies state-of-the-art robotics, machine learning software, and expert human oversight. Its technology platform and 24/7 dedicated professional security services team improve safety, security and facility workflows with greater efficiency and predictability at substantially reduced costs, while allowing guards to focus on tasks that require judgment, empathy and decision making. Cobalt’s mobile robotics help companies make their spaces smarter, safer, and more secure, protecting both their employees and intellectual property. Leading enterprises including Slack demonstrate that automation in the workplace is a top to bottom priority with Cobalt. Learn more at www.cobaltrobotics.com.
Big Swing Communications (for Cobalt Robotics)