Demand for AI-based automation, driven by rising human labor cost in robotics industry, drives Cobalt’s revenue growth by 979%
FREMONT, Calif., Nov. 17, 2022 (GLOBE NEWSWIRE) — Cobalt robotsToday, the only machine learning company automating repetitive manual utility and security tasks using autonomous bots worldwide, announced today that it is ranked #147 in the world. Deloitte Technology Fast 500™, a ranking of the 500 fastest growing technology, media and telecoms, life sciences, financial technology, and energy technology companies in North America. Cobalt grew 979% on a percentage basis of revenue growth for fiscal 2018 to 2021. Cobalt also ranked #27 in the San Francisco Bay Area.
Cobalt is driving the use of bots among modern organizations as companies look to new AI-based innovations to automate security and improve safety. Security bots designed by Cobalt perform tasks objectively and accurately in place of human guards. In the past year, Cobalt has seen significant customer expansion and exponential growth sustained with robots now spread across five continents. Leading companies and partners including Slack, DoorDash, Ally Financial, Woven Planet, Otis, Safetrust and many others have recently expanded their relationships with Cobalt demonstrating that workplace automation is a top-down priority.
“We are thrilled to be recognized by Deloitte and listed among other leading companies that have continued to excel and innovate during challenging economic times,” said Mike LeBlanc, President and COO of Cobalt Robotics. “AI-powered robots are truly becoming the new standard, the new normal for security and facility maintenance, giving security teams a highly reliable and effective way to protect their assets and keep employees safe. We are incredibly 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 diseases and other global health issues,” said Paul Silverglatt, vice president of Deloitte LLP and US technology sector leader. In addition, technology must keep pace with ever-changing consumer and business demands for faster, safer, and more effective solutions to new societal challenges. Each year I am in awe of the tremendous talent revealed by the Technology Fast 500 rankings, confirming the winners’ relentless pursuit of creativity and their ability to solve real-world problems that benefit us all.”
said Kristi Simmons, partner at Deloitte & Touche LLP and a technology, media and communications leader in Deloitte’s audit and assurance practice. “By representing all aspects of technology, the winners have demonstrated that they not only have the vision, but can also expertly run their companies through rapid growth. We congratulate each winner on their impressive achievement.”
About the 2022 Deloitte Technology Fast 500™
Now at 28The tenth This year, the Deloitte Technology Fast 500 presents a ranking of the fastest growing technology, media, telecommunications, life sciences, financial technology, and energy technology companies—both public and private—in North America. Technology Fast 500 award winners are selected based on percentage revenue growth for the fiscal year 2018-2021.
To be eligible for the Technology Fast 500 recognition, companies must own the intellectual property or technology that is sold to customers in products that contribute to the majority of the company’s operating revenue. Companies must have operating revenue for the base year of at least $50,000, and operating revenue for the current year of at least $5 million. In addition, companies must have been in operation for a minimum of four years and be based in North America.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a British private company limited by guarantee (“DTTL”), its network of member firms, and associated entities. DTTL and each of its member firms are separate and legally 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 associated entities that operate using the name “Deloitte” in the US and their affiliates. Certain services may not be available for certification to clients under public accounting rules and regulations. please look www.deloitte.com/about Learn more about our global network of member firms.
About Cobalt Robots
Cobalt Robotics is the only company that automates repetitive manual security and utility tasks through an integrated service that unites state-of-the-art robotics, machine learning software, and expert human supervision. Its technology platform and dedicated 24/7 professional security services team improve safety, security, and facility workflow with greater efficiency and predictability at dramatically lower costs, while allowing guards to focus on tasks that require judgment, empathy, and decision-making. Cobalt’s mobile robots help companies make their spaces smarter, safer, and more secure, protecting their employees and intellectual property. Leading companies including Slack are demonstrating that workplace automation is a top priority with Cobalt. Learn more through www.cobaltrobotics.com.
Big Swing Communications (for Cobalt robots)
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