Israeli cybersecurity startup Cybellum has been named 2021 Company of the Year in the European vehicle security and risk assessment industry by Frost & Sullivan, the company announced Friday.

Frost & Sullivan reserves this type of recognition for companies at the forefront of innovation and growth in the industry. It applies a rigorous evaluation of best practices criteria across two dimensions to evaluate multiple nominees before determining the final award recipient. Based on its resulting report, Cybellum excels in the vehicle security and risk assessment space in the areas of: Addressing Unmet Needs, Best Practices Implementation, Customer Purchase and Service Experience, Leadership Focus, and Brand Equity.

"This award is further evidence of the awareness and attention needed for product security challenges, such as its unaddressed needs and regulations. The growing number of connected cars, combined with increasing security standards and regulations, require specialized solutions, and Cybellum is proud to drive this industry forward. We are thankful to Frost & Sullivan for this recognition and look forward to continuing building innovative solutions and best practices for product security professionals," said Cybellum CEO Slava Bronfman.