Florito Maniego of We Rave You praised the song, writing that it 'perfectly blends their respective signature sounds together, completing an awe-inspiring and bone-chilling electronic masterpiece', further stating 'consisting of such top-notch electronic sounds and production quality, 'Cold Hearted' is overall an absolute must-hear tune for any music fan.' Billboard's Dove Shore wrote that it is 'the kind of song you can easily put on repeat', describing both Seven Lions and Kill the Noise as 'monsters in the studio.' Writing for Relentless Beats, Heather Kupka described the song as a 'combative voices of the two producers', calling the song 'nothing short of blissful.' Lauren Ikenn of This Song Slaps described the song as a 'true masterpiece', complementing the general structure of the song. 'Cold Hearted' received generally positive reviews. It was the third track on the album, which also includes 29 songs by various artists and two album mixes. 'Cold Hearted' was featured on Monstercat's thirty-third compilation album titled Monstercat Uncaged Vol.

The tour features both Seven Lions and Kill the Noise alongside American electronic duo Tritonal. The song was released alongside the debut of the North-American tour titled Horizons Tour. On October 22, Seven Lions announced the song as 'Cold Hearted' and that the song was to be released by Canadian record label Monstercat.

The song would later be during various live sets by both Seven Lions and Kill the Noise for more than half a year prior to the song's release. In March 2017, During Excision's Paradox Tour, Kill the Noise first announced a collaboration between him and California-based electronic artist Seven Lions, playing the song in almost its entirety near the end of his set.

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