Legit Software Takes Data Privacy Manager to Podim Semifinals; Seeks New Investment

Legit Software is entering one of the most important stages of its development so far with its Data Privacy Manager product. The company, co-founded by Dražen Oreščanin, has been selected among the ten semifinalists of the Podim startup competition, after a selection process in which, according to Oreščanin, more than 450 startups applied, 136 were selected for the pitch programme, and ten advanced to the semifinals. For a company developing software in data privacy and regulatory technology, reaching the semifinals is not only recognition of product quality but also an important investment and a market reference.

“Podim is the largest startup conference in the region, and reaching the semifinals is a major achievement because of the visibility it brings,” Oreščanin says. He adds that it is particularly important that representatives of practically all regional VC funds take part in the selection process. “If you win there, you win because VC funds consider you the best. That is a very strong signal when it comes to closing the next investment round,” he explains.

Legit Software has already completed its first investment round, which was closed in September 2024. At that time, Oreščanin says, the company had around 300,000 euros in recurring revenue, while today it is close to 700,000 euros. The target is to reach approximately 1.2 million euros by the end of the year, after which the company would move toward a new financing round. “We would target a round of around 2.5 million euros or more,” Oreščanin says.

The current investment has primarily been used for product development and business growth. A particularly important step has been made in the Middle East, where Saudi Arabia, the United Arab Emirates, and Kuwait are now among the company’s key markets. “We completed the full localisation of the software into Arabic, and those markets are now among our largest,” Oreščanin says. The company has also completed key certification processes, implemented an ESOP programme for employees, and entered the prestigious global RegTech100 list, which highlights companies to watch in regulatory technology.

The next investment round should enable further expansion, not only in the Middle East but also in Europe and potentially in the United States. Legit Software is also part of the Vienna Startup Package, a programme run by the Vienna Chamber of Commerce, which is opening additional doors for the company in the Austrian market and the wider region.

The European market has particular strategic importance for Legit Software. Although the company is already present there, its largest competitors are based in the United States and gained an advantage during the introduction of GDPR, when they had access to significantly greater capital. However, Oreščanin believes the market context is now changing. “European digital sovereignty is working in our favour, because Europe wants to become less dependent on the largest American technology companies,” he says.

The ambition is clear: by the end of 2029, Legit Software wants to establish itself as the leading European software solution for data privacy. “Our goal is to reach 10 million euros in annual recurring revenue, and from our current position, with the next investment, that seems achievable,” Oreščanin says.

The biggest unknown remains the US market. Competitors are many times larger, better capitalised, and more firmly established. For Legit Software, the key question is therefore no longer only whether it can develop a high-quality product, but how it can turn a European data privacy niche into an internationally relevant company. Reaching the Podim semifinals comes at the right moment for that ambition: as confirmation of investor interest, regional visibility, and the market maturity of a product positioned at the intersection of privacy, regulation, and digital sovereignty.