July 9

Dean Drako Acquires Cobalt AI, Enterprise Security Automation Leader

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Cobalt AI to scale its human-verified AI across enterprise security applications

FREMONT, Calif. and AUSTIN, Tex., June 4, 2024 – Dean Drako and Cobalt AI (previously known as Cobalt Robotics) today announced that Cobalt has been acquired by Dean Drako. As Cobalt’s owner, Drako will serve as the company’s chairman, while Ken Wolff, Cobalt’s CEO, will continue leading the company. Cobalt AI will operate as an independent company with its current management team and entire staff.

Cobalt is a leading provider of AI alarm filtering, remote monitoring, and security robot solutions for the enterprise. The Cobalt™ Monitoring Intelligence and the Cobalt™ Command Center deploy on a broad range of cameras, access control systems, robots, and other edge devices.  Cobalt’s enterprise security automation technology combines AI with human verification to improve enterprise safety, security, and facility workflows while delivering predictability at greatly reduced costs. 

As a reflection of the company’s AI leadership across multiple domains, Dean Drako has officially renamed the company from Cobalt Robotics to Cobalt AI.

“We are thrilled that Dean Drako has acquired Cobalt and will serve as chairman. Dean has invested capital and strategic insights to grow other physical security companies to unicorns and technology leaders in their space,” said Ken Wolff, CEO of Cobalt AI.  “We share a mutual vision of the tremendous advantages of automation through AI with human verification.  Drako’s acquisition validates our strategy to improve monitoring, response times and lower costs and also gives us the capital to deliver for our enterprise clients.” 

“I searched for the company with the most powerful AI-based enterprise security automation in our physical security industry,” said Dean Drako.  “AI is transforming our industry, and Cobalt’s alarm filtering and other technologies are years ahead.”

Drako continued, “The company monitoring and command center technology is a catalyst for a new era of security. They have created field-proven AI to make security and guarding tremendously more effective and efficient. Furthermore, Cobalt’s open platform strategy, which integrates with a plethora of video and access systems, is aligned with the open product strategy I believe in.”

Cobalt AI and Drako share a commitment to delivering innovative solutions that enhance security and efficiency for enterprise clients. Under Drako’s ownership, Cobalt AI will invest in further R&D and sales execution. Visit CobaltAI.comf or more information.

About Cobalt AI
Cobalt AI, founded in 2016, is the only company to automate repetitive manual security and facility tasks with an integrated service unifying state-of-the-art machine learning software, robotics, and expert human oversight. Its technology platform and 24/7 dedicated professional security team improve safety, security, and facility workflows – allowing you to detect more, respond faster, and save money. With greater efficiency and predictability at substantially reduced costs, guards can focus on tasks that require judgment, empathy, and decision-making. Leading enterprises, including FedEx and Salesforce, demonstrate that automation in the workplace is a top-to-bottom priority with Cobalt. Learn more at www.cobaltai.com.

About Dean Drako
Dean Drako is a parallel entrepreneur, investor, and engineer. Drako is founder and CEO of Eagle Eye Networks, delivering the industry’s leading AI-power cloud video surveillance system, and owner and chairman of Brivo, which is the industry leader in smart cloud access control systems. Previously, Drako was the founder, president and CEO of Barracuda Networks, where he developed the IT security industry’s first spam filter appliance. From Barracuda’s inception in 2003 through 2012, Drako grew the company to be an IT security industry leader for mid-market businesses, with more than $200 million in annual sales and 150,000 customers.

Contact:
Ria Van Hoef
Director of Marketing
Cobalt AI, LLC
[email protected]
www.cobaltai.com

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