Luxembourg password manager Passbolt was crowned winner of the European cybersecurity STARtup Award, picking up a mentoring programme.
The team, which was incubated at Technoport, competed against nine other finalists at the European Cybersecurity STARtup Award in the Hague on 6 April.
Organised by the European Cyber Security Organisation (ECSO), which raises awareness and visibility of state-of-the-art cybersecurity technologies in Europe, this edition marks the first time that a Luxembourg startup has won the award.
Founded in 2016 by French entrepreneur Kevin Muller, Rémy Bertot and Cédric Alfonsi, Passbolt is an alumni from the Fit 4 Start incubator programme.
Speaking after the prize-giving, Muller said that the selection had boosted Passbolt’s visibility considerably. “The final event in itself was a gathering of all the main cybersecurity actors in Europe, where we’ve easily connected with decision makers and are currently exploring some partnerships.”
Passbolt’s open source password management tool has won critical acclaim and over €3m in investment since 2020. In February, the team released the Passbolt app, making it easier for users to access their passwords while away from their desks. New functionalities include the ability to sign in to Passbolt using the phone’s biometrics as well as the app’s support of Yubikey’s second-factor authentication through simple touch.
Muller credited the success to the team’s focus on brand/product positioning and messaging. He said: “Cybersecurity solutions can be particularly tricky to understand, and explaining them in a few minutes to a jury of experts is definitely a challenge. Finding the right angle to communicate the differentiators will play a big role, both for the jury and the market.”
As part of the competition final process, regional winners were selected by local juries according a list of criteria provided by ECSO. They presented their solutions to the European jury, which was comprised of international invsetors, CISOs, representatives of large cybersecurity companies, ECSO representatives and cybersecurity experts.
In addition to a mentorship programme, Passolt will receive the CYBERSECURITY MADE IN EUROPE Label for one year.
