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Cobalt Robotics: Scaling Workplace Robotics
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Founded in 2016, Cobalt Robotics, based in Fremont, California, was a Robot-as-a-Service (RaaS) company that built autonomous workplace robots that were designed to replace or supplement human security guards. Outfitted with over 60 sensors, Cobalt robots patrolled workplaces, leveraging AI and machine learning to identify an array of security risks. Security was of critical importance to companies, and yet human security guards were expensive, exhibited high turnover, and were prone to discipline lapses due to the isolated and repetitive nature of the job. Recruiting suitable talent was also increasingly challenging in the wake of the pandemic and the "great resignation." Cobalt's robots could work around the clock, did not resent repetitive work, and were accurate in their work. By 2022, Cobalt had deployed hundreds of security robots at companies around the world, including DoorDash, Yelp, and Slack. As a Series C venture-backed company which had raised over $90 million to date, Cobalt was under pressure to scale quickly. Yet the company faced a series of challenges and decisions around how to scale, including how to overcome the human-veto factor, which verticals to target, and which distribution channel to use. As Cobalt looked to its future, it envisioned entering into other workplace robotic functions beyond security. The company wondered how this would impact its go-to-market strategy as well.