A LegalTech start-up run by a female founder
gets early traction in Warsaw with Dentons Poland and Santander Bank Poland and looks to expand to London, the RegTech European capital for further development and growth.
Privacy Optimization is a RegTech/LegalTech start-up which helps organizations navigate the complex landscape of privacy regulations by providing Privacy Audit, Privacy Consulting and complex processes optimization: Data Breach Management Tool.
There is a lot more to a list of start-up products or services; there is always a story behind it. For us, it is the story of Aleksandra, a privacy lawyer, who often found herself busy on Friday evenings trying to analyse, risk assess and decide whether to report a personal data breach to the appropriate authorities. Working in a large corporate reality means that everybody tries to get rid of their remaining tasks before leaving the office for the weekend and Aleksandra, unfortunately, was often receiving those incidents notifications all at once and at the last minute. This repetitive and painful situation pushed Aleksandra to look for a solution to ease the burden and the stress of managing data incidents in a timely, structured and automated way.
That is how the Data Breach Management Tool was born: a software for the GDPR compliance that helps organizations quickly manage privacy breaches, thereby reducing the risk of massive regulatory penalties.
With a team of 5 – Aleksandra, Adriano, Marcin, Mateusz and Simone – we have worked hard for 1 year, with the ups and downs that most start-ups experience, before finally getting some traction:
- In Q4 2020, we signed a collaboration agreement with Dentons Poland which is actively supporting us with legal, marketing and promotional activities and which introduced us to Dentons Europe Innovation program (discussions are ongoing): https://www.dentons.com/en/whats-different-about-dentons/connecting-you-to-talented-lawyers-around-the-globe/news/2020/november/data-breach-management-tool
- And in Q1 2021, we were awarded an EU grant in collaboration with AccelPoint and PARP of EUR 50k to run a Proof of Concept with Santander Bank Poland which will be completed by June 2021: https://accelpoint.pl/news/the-4th-round-of-accelup-accel
The long hours spent developing the MVP, trying to explain to stakeholders the gaps and issues at stake, the market opportunity and the added value of the solution have finally started to bear fruit.
In terms of development, on the one hand, we took part in 3 accelerator programs in Warsaw: ReaktorX, Warsaw Booster and AccelUp. Each of them helped us to better shape our product, understand the market opportunity and get a first understanding of what investors look for in a successful start-up.
On the other hand, we started to collaborate with large corporations to tailor the software to their needs and requirements and to keep developing a viable product which aims at supporting privacy teams and Data Protection Officers in their daily task of managing data incidents.
Today, we are considering all of our options to further grow and develop our start-up. Although our first target market is Poland, we are also closely looking at the UK and London, the European capital of RegTech & LegalTech start-ups.
If you are a Data Protection Officer or work in privacy compliance and our software seems to be solving data protection issues you are facing daily, get in touch with us and we will be happy to support you and ease the burden of your daily tasks.
If you are a start-up investor, business angel or pre-seed/seed Venture Capitalist and our story caught your attention, do not hesitate to speak to us to explore potential synergies and learn more about Privacy Optimization.
If you are a journalist, a blogger, or you simply like to tell exciting start-up stories drop us a line, let’s have a virtual coffee together and we will tell you more about Aleksandra’s story and her Privacy Optimization start-up.
Stay healthy, stay safe, and keep protecting your client’s private data and your own!
Simone Dalle Nogare
Company: Privacy Optimization: www.privacyoptimization.com