# Cobalt Labs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cobalt-labs

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.cobalt.io
- Total disclosed funding: $34M
- Latest round: Series B (Aug 10, 2020)
- Investors on record: 8

## About

Cobalt Labs, Inc. specializes in Offensive Security, offering Penetration Testing as a Service (PTaaS) that enables organizations to proactively test their security measures against real-world attacks.Founded in 2013, Cobalt Labs, Inc. is headquartered in San Francisco, US, and operates as an independent firm. The company has pivoted its business strategy towards automated security testing solutions. The founders include Brian Felix, Christian Hansen, Jacob Hansen, Jakob Storm, and Rajat Talikdar, while Chris Manton-Jones currently serves as CEO. Cobalt has completed 6 deals, with the most recent in August 2020 when it raised USD 26.08 mn in a Series B funding round led by Highland Europe, bringing the total amount raised to USD 26.08 mn and its current valuation to USD 107.36 mn.Cobalt specializes in providing Offensive Security services, primarily through its Penetration Testing as a Service (PTaaS) platform. This offering allows organizations to conduct proactive security tests by simulating real-world attacks and identifying vulnerabilities. Cobalt also offers secure code reviews and dynamic application scanning, essential for maintaining compliance and robustness in application development. The company serves a diverse clientele in sectors such as finance, technology, and healthcare, across North America, Europe, and the Asia-Pacific region, utilizing a community of vetted security professionals to tailor solutions for specific security needs.Cobalt generates revenue through subscription-based models for its PTaaS offerings, enabling clients to access on-demand security testing resources. Clients purchase service packages that encompass various security assessments and ongoing pentesting engagements. The platform facilitates the management of security testing workflows, optimizing resource allocation and enhancing efficacy. Cobalt's tiered pricing structure accommodates different business sizes and security needs, simplifying the procurement process and encouraging long-term partnerships.Cobalt Labs, Inc. plans to utilize the USD 26.08 mn raised in Series B funding to enhance its product offerings and expand into new geographic markets. The company is focusing on launching new features within its PTaaS platform, aiming for a rollout by late 2021. Additionally, Cobalt is targeting expansion into the Asia-Pacific region and enhancing its presence in Europe by 2022, seeking to cater to the growing demand for security services in these markets.

## Funding rounds

- Series B, Aug 10, 2020, $26M — Highland Europe
- Series A, May 2, 2018, $5M — Plug and Play, DG Ventures, Draper, ELab Ventures
- Seed, Aug 17, 2016, $1.5M — Draper, ELab Ventures
- Seed, Jul 25, 2014, $1M — 500 Global, Kima Ventures
- Seed, Nov 13, 2013 — Boost VC

## Investors

- Boost VC (https://capitalatlas.ai/funds/boost-vc) — Seed
- 500 Global (https://capitalatlas.ai/funds/500-global) — Seed
- Kima Ventures (https://capitalatlas.ai/funds/kima-ventures) — Seed
- Draper (https://capitalatlas.ai/funds/draper) — Seed, Series A
- ELab Ventures (https://capitalatlas.ai/funds/elab-ventures) — Seed, Series A
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Series A
- DG Ventures (https://capitalatlas.ai/funds/dg-ventures) — Series A
- Highland Europe (https://capitalatlas.ai/funds/highland-europe) — Series B