What a virtual data room is, and how we score 25 of them
A virtual data room is a locked,
permissioned online repository where you hand over the confidential file behind a deal without
losing control of who sees what.
It is the tool teams reach for in due diligence,
mergers and acquisitions, fundraising and regulated deals: any process where an outside party
has to review sensitive documents and you need a record of who did what, and when.
We test 25 of them and score each from 0 to 10 across five axes: security, features, ease of
use, support and value. No vendor pays for position, and the ranking is refreshed every month.
Every provider is scored on the same 40+ criteria. Filter by what your deal actually needs.
Deployment
Pricing
Use case
Certifications
Features
Region
Min score: 0
Min rating: 0
25 of 25 shown
No providers match. Adjust your filters.
#ProviderOur scoreHow it scoresFrom / trial
1
A cloud virtual data room with granular per-user permissions, a structured Q&A module, dynamic watermarking and a full audit trail. Its self-serve setup and published pricing suit deal teams that want to skip the sales call.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2 Infrastructure
Strengths
Full-featured room for M&A and diligence
Clean, buyer-friendly modern interface
Transparent published pricing from $149/mo
Watch-outs
Cloud only, no on-premise option
Younger name, shorter public track record
Founded 2020HQ AustraliaDeployment Cloud
2
A mature cloud data room built for complex, multi-party transactions, with structured Q&A, granular permissions and round-the-clock help. Suited to mid-market and enterprise deal teams that price by quote.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001GDPR
Strengths
Deep feature set for complex diligence
Responsive 24/7 support advisors rate highly
SOC 2 and ISO 27001 certified
Watch-outs
Quote-based pricing slows early budgeting
Steeper learning curve for first-time admins
Founded 2008HQ United KingdomDeployment Cloud
3
Datasite is a cloud data room for sell-side advisers and corporate development teams, pairing deep buyer-engagement analytics, tracked Q&A and AI redaction for high-volume diligence at quote-only pricing.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001GDPR
Strengths
Per-bidder buyer-engagement analytics
Built-in AI redaction at scale
SOC 2 and ISO 27001 certified
Watch-outs
Quote-only pricing, no published rates
Heavier setup and steeper learning curve
Founded 1968HQ United StatesDeployment Cloud
4
Intralinks is a veteran enterprise virtual data room built for regulated, high-value M&A and capital-markets deals. It suits banks, advisors, and legal teams that need deep permissions and audit trails over quick, self-serve setup.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001
Strengths
Post-download information-rights control
SOC 2 and ISO 27001 certified
Proven on large cross-border M&A
Watch-outs
No published pricing or free trial
Heavier, slower onboarding
Founded 1996HQ United StatesDeployment Cloud
5
A governance-grade virtual data room for M&A advisors, corporate development teams and boards that run recurring transactions and want structured deal preparation rather than plain file storage.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001
Strengths
AI readiness scoring flags index gaps
Data room plus board governance in one
SOC 2 and ISO 27001 certified
Watch-outs
Quote-only pricing, no published rate
Overkill for a simple one-off sale
Founded 2005HQ AustraliaDeployment Cloud
6
A Toronto-based data room running since 2006, Firmex covers dependable core diligence workflow and responsive support, with an unlimited-room subscription that fits advisors opening many deals a year.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001
Strengths
Fast, low-friction setup, no training call
Unlimited-room subscription is strong value
SOC 2 and ISO 27001 certified
Watch-outs
No published pricing, needs a sales call
Lighter on AI and deal analytics
Founded 2006HQ CanadaDeployment Cloud
7
Frankfurt-based data room for real-estate portfolios and cross-border European deals, offering EU data residency, on-premise options, and AI-assisted document indexing for complex multilingual diligence.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001GDPR
Strengths
Real-estate and life-sciences track record
ISO 27001 and SOC 2 certified
Cloud and on-premise deployment
Watch-outs
Quote-only pricing, no published rate
No self-serve free trial
Founded 2001HQ GermanyDeployment Cloud/On-prem
8
Diligent is an enterprise governance suite that combines board management, entity records and a secure document workspace. It fits regulated boards and GRC teams needing audited sharing over quick, self-serve deal setup.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001
Strengths
Governance, entities and sharing in one platform
SOC 2 and ISO 27001 with full audit trail
Strong controls: watermarking, expiry, revoke
Watch-outs
No free trial, quote-only pricing
Heavier and pricier than a pure VDR
Founded 2003HQ United StatesDeployment Cloud
9
A cloud virtual data room aimed at M&A, legal and corporate teams running multi-party diligence, offering file-level permission control and a structured Q&A workflow. Pricing is quote-only.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001
Strengths
File-level permission control per group
Structured Q&A for large deal teams
SOC 2 and ISO 27001 certified
Watch-outs
Quote-only pricing, no self-serve
Steeper learning curve than lightweight rooms
Founded 2004HQ United StatesDeployment Cloud
10
DealRoom is a Chicago-based M&A platform that pairs a secure data room with pipeline boards and diligence request tracking, aimed at corporate development and serial-acquirer teams running frequent deals.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001
Strengths
Secure VDR plus deal pipeline in one
Request lists tied directly to documents
SOC 2 and ISO 27001 certified
Watch-outs
Project-management layer adds a learning curve
Quote-based pricing with no published rate
Founded 2012HQ United StatesDeployment Cloud
11
Box is an enterprise content-management platform for everyday file collaboration and governed sharing. It fits teams that want to keep deal documents in the same tool they already use daily.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001GDPRHIPAA
Strengths
One platform for content and deal sharing
SOC 2 and ISO 27001 with Box Shield
Over 1,500 native integrations
Watch-outs
No built-in Q&A or bidder analytics
Per-user pricing can climb with reviewers
Founded 2005HQ United StatesDeployment Cloud
12
Citrix ShareFile is a secure content-collaboration platform with branded portals and built-in RightSignature e-signature. It suits accounting, legal, and SMB teams that exchange sensitive documents routinely, not competitive M&A.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001HIPAA
Strengths
Native e-signature via RightSignature
Client-friendly branded portals
SOC 2 and ISO 27001 certified
Watch-outs
No structured bidder Q&A module
Per-seat pricing climbs for larger teams
Founded 2005HQ United StatesDeployment Cloud
13
ShareVault is a quote-priced, cloud data room built around persistent document DRM and page-level analytics, aimed at pharma, biotech and IP teams running licensing, clinical and partnering diligence.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001
Strengths
Persistent document-level DRM
SOC 2 and ISO 27001 certified
Deep life-sciences pedigree
Watch-outs
Quote-only pricing, sales call to start
Heavier setup than self-serve rooms
Founded 2003HQ United StatesDeployment Cloud
14
CapLinked is a mid-tier data room built around a documented REST API, letting SMB and mid-market teams script room setup and permissions for recurring asset sales and M&A diligence.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2
Strengths
Documented REST API for automation
SOC 2 with granular permissions
Self-serve setup with free trial
Watch-outs
No ISO 27001 certification
Pricey vs flat-rate SMB rooms
Founded 2010HQ United StatesDeployment Cloud
15
SecureDocs is a cloud virtual data room for startups and small businesses, pairing flat monthly pricing and unlimited users with SOC 2 security, built-in e-signature, and same-day self-serve setup.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2
Strengths
Flat rate, unlimited users
Same-day self-serve setup
Built-in e-signature
Watch-outs
No ISO 27001 certification
Fewer advanced deal features
Founded 2012HQ United StatesDeployment Cloud
16
A Seattle-built cloud file-sharing platform with an add-on Data Room Edition, aimed at cost-conscious SMBs and advisory firms running client portals or handling lighter, lower-stakes diligence.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2
Strengths
Low entry price, among cheapest tested
Doubles as client portal and file-sharing hub
Fast self-serve setup, no sales call
Watch-outs
No ISO 27001 certification
Lighter deal tooling for Q&A and analytics
Founded 2007HQ United StatesDeployment Cloud
17
A legal operations platform whose secure file-sharing module doubles as a data room, built for law firms running diligence alongside ongoing matter work, client portals, and iSheets automation.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001GDPR
Strengths
Backed by Thomson Reuters, SOC 2 and ISO 27001
iSheets and workflow automation beyond a repository
Granular permissions with full audit logging
Watch-outs
Quote-only pricing with no free trial
Setup overhead versus a focused deal room
Founded 2001HQ United KingdomDeployment Cloud
18
A quote-only, cloud data room from DFIN built for IPOs, regulated M&A, and SEC-style filings. Best for banks, issuers, and legal teams that value compliance heritage over self-serve speed.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001
Strengths
Built for IPO and regulatory filings
SOC 2 and ISO 27001 certified
24/7 capital-markets specialist support
Watch-outs
Quote-only pricing, no free trial
Too heavy for small, simple deals
Founded 2016HQ United StatesDeployment Cloud
19
A UK managed-service virtual data room that pairs every room with a dedicated project manager. Suited to advisers and lean deal teams who want a secure room live quickly without heavy configuration.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001
Strengths
Fast, low-friction room setup
Dedicated project manager per room
SOC 2 and ISO 27001 certified
Watch-outs
No published pricing
Lighter on AI and deal analytics
Founded 2010HQ United KingdomDeployment Cloud
20
Brainloop is a Munich-based secure data room paired with a board portal, now part of Diligent, built for regulated DACH organisations that need EU data residency plus cloud or on-premise hosting.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001GDPR
Strengths
EU data residency, 2FA, watermarking by default
ISO 27001 and SOC 2, full audit trail
Cloud and on-premise deployment
Watch-outs
Quote-only pricing, no free trial
Enterprise, dated interface
Founded 2000HQ GermanyDeployment Cloud/On-prem
21
A DRM-focused document-sharing tool with a light data-room layer, built for SMBs and founders who want per-file controls, dynamic watermarks and page-level tracking without an enterprise contract.
A document-tracking and secure link-sharing tool with a lightweight data-room tier, suited to founders sharing pitch decks who want page-by-page insight into how investors actually read them.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2GDPR
Strengths
Best-in-class page-by-page document analytics
Fast self-serve setup
Transparent per-user pricing
Watch-outs
Not a full diligence VDR
No ISO 27001; per-user cost scales
Founded 2013HQ United StatesDeployment Cloud
23
Formerly WatchDox, BlackBerry Workspaces is an enterprise EDRM and secure file-sharing platform for security and IT teams that must keep file-level control of sensitive documents across devices and organisations.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001
Strengths
Revoke file access even after download
SOC 2 and ISO 27001 certified
Cloud, on-premise, and hybrid deployment
Watch-outs
Thin deal-room Q&A and diligence workflows
Quote-only pricing, no self-serve sign-up
Founded 1984HQ CanadaDeployment Cloud/On-prem
24
ForData is a Polish, ISO 27001 certified data room that hosts in the EU and targets mid-market M&A and due diligence teams wanting quick setup and hands-on support over enterprise breadth.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
ISO 27001GDPR
Strengths
Fast onboarding with a project team
Responsive, human support during deals
ISO 27001 with granular permissions
Watch-outs
No SOC 2 attestation
Quote-only, unpublished pricing
Founded 2009HQ PolandDeployment Cloud
25
Sterling is a cloud data room for small and mid-sized businesses that need certified, no-frills document security for standard diligence and confidential file exchange, not competitive multi-bidder M&A.
Q&A workflow Full audit trail Dynamic watermarking Redaction Document DRM Two-factor auth SSO Bulk upload E-signature API access Mobile app AI tools
Certifications
SOC 2ISO 27001
Strengths
SOC 2 and ISO 27001 certified
Clean, low learning-curve interface
Granular permissions with exportable audit trail
Watch-outs
Quote-only pricing, no published rate
No free trial for evaluation
Deployment Cloud
How to choose
How to choose a data room, starting from the deal
Every data room looks similar until a live deal stress-tests it. Pick the profile closest to yours, then weigh security, permissions, price and support in that order.
1
Name the dealFundraise, sale, regulated filing or niche vertical; the deal type sets your priorities.
2
Weight four thingsScore each room on security, permissions, pricing and support, not on raw feature count.
3
Check non-negotiablesConfirm current SOC 2 or ISO, real permission depth, and whether a free trial exists.
4
Trial two, then commitShortlist three, trial the top two on your actual documents, decide within a week.
Speed, cost and seeing which investors actually engaged.
Security25
Permissions20
Pricing fit30
Support & speed25
Skip if: it hides pricing behind a sales call while you are still testing investor interest.
Pick the room by the deal you are actually running, not by a generic feature list. Each use case below shows what the data room has to do and three providers whose data backs them for it.
Mergers & acquisitions
M&A rooms handle thousands of files, staged access and heavy Q&A. Buyers, sellers and advisers all need one clean audit trail.
Independently awarded from the same scoring model. Vendors cannot buy a medal.
Leader
Ellty · iDeals
High Performer
Datasite · Intralinks
Best Value
SecureDocs · Onehub
Best for due diligence
iDeals · Sterling
How to set up
Set up a data room in six steps
Setting up a data room sounds technical, but it is mostly good filing and clear access rules. Follow these six steps and a first-time admin can be ready for reviewers in an afternoon.
1
Map what reviewers will ask for
Before you touch any software, list the documents your deal actually needs: company records, financials, contracts, IP, and compliance. A short checklist now saves a scramble later.
Match the tool to your deal size, timeline, and budget rather than the longest feature list. Shortlist a few, including options like Ellty whose pricing suits smaller raises, and check audit logs and permissions are genuinely included.
Set up top-level folders that mirror your checklist, then number them so everyone sees the same order. A tidy tree is the difference between a fast review and a frustrated one.
Load final versions only, name them consistently, and remove drafts and duplicates. Give each document a clear label so a reviewer never has to open a file to guess what it is.
Decide who can view, download, or print each folder, and use watermarking for sensitive material. Configure access first so nobody sees more than their role should.
Send access in staged groups, keep an eye on the audit trail, and answer questions inside the room rather than over scattered email. This keeps every response logged and every party on the same page.
Ellty gives lean deal teams a modern room they can spin up themselves and open within the hour. Per-user controls and a running activity log keep sensitive files accountable through M&A, real estate and fundraising rounds.
iDeals is a go-to for advisers juggling bidders across time zones and jurisdictions. Its depth handles tangled, multi-party diligence where a lighter tool would strain.
Datasite is built for the pace of a large-cap auction, where a banker must know which buyer is really engaged. It absorbs enormous document volumes without slowing the process down.
Intralinks has run some of the market's largest regulated deals for decades, and compliance teams trust its track record. It rewards banks and law firms that value control and provenance over a quick setup.
Ansarada suits organisations that treat deals as an ongoing programme rather than a one-off event. Its readiness tools push teams to prepare documents well before a buyer ever arrives.
Firmex has quietly powered mid-market diligence since 2006, favouring reliability over flashy extras. Its unlimited-room subscription pays off for advisers who open deals all year round.
Drooms is a natural fit for European property and asset portfolios where data must stay on the continent. Its AI indexing helps teams find documents fast across multilingual, high-volume rooms.
Diligent starts from the boardroom rather than the deal desk, folding secure sharing into a wider governance suite. It suits regulated organisations that manage entities and directors alongside sensitive documents.
SmartRoom is aimed at deals where who-sees-what is the hardest part, giving administrators tight control over every file. It keeps large, multi-party diligence orderly through a structured question workflow.
DealRoom blends the secure room with the project board, so a deal's documents and tasks live in one place. It suits acquisitive teams that want to run diligence and integration from a single workspace.
Box is less a dedicated deal room than an everyday content cloud that can lock down when needed. It appeals to teams that would rather share diligence files from the tool they already live in.
Citrix ShareFile fits professional-services firms that trade sensitive files with clients week in, week out. Signing and branded delivery come built in, though it is not meant for competitive bidding.
ShareVault has become a familiar name in pharma and biotech licensing rooms where a leaked file is a real risk. Its protection travels with each document long after it is downloaded.
CapLinked stands out for teams that would rather script room setup than click through it, thanks to a documented API. It fits recurring asset sales where the same workflow repeats deal after deal.
SecureDocs keeps things refreshingly simple, with one predictable monthly price and no per-seat maths. Startups can have a working room live the same afternoon they sign up.
Onehub is one of the more affordable ways to add a secure room without an enterprise contract. It works well as a client portal for firms handling lighter, lower-stakes diligence.
HighQ is really a legal collaboration suite in which the data room is one feature among many. It rewards law firms that want diligence, client portals and matter automation under one Thomson Reuters roof.
Venue draws on DFIN's long compliance heritage in the capital-markets world. It suits issuers and their advisers preparing an IPO or navigating regulatory filings rather than a quick private sale.
EthosData takes the setup work off your plate by assigning a project manager to every room. It suits lean advisory teams that would rather run the deal than configure software.
Brainloop was built for German-speaking enterprises where data-residency rules leave little room for compromise. Now part of Diligent, it pairs a board portal with a room hosted inside the EU.
Digify leans hard into document protection, letting small teams lock down files without signing an enterprise deal. It works best when tracking and control matter more than a full deal-room feature set.
DocSend is the fundraiser's link of choice for sending a deck and watching how investors read it. Its light room tier suits early sharing more than a full multi-party diligence process.
BlackBerry Workspaces, once WatchDox, puts persistent file control ahead of deal-room niceties. Security teams pick it to keep a grip on documents wherever they end up.
ForData is a European option that trades enterprise breadth for speed and a human on the other end. Mid-market deal teams get an EU-hosted room and a project team that answers quickly.
Sterling keeps to the essentials, giving smaller businesses a certified room for routine, single-track diligence. It is a sensible pick when you need security and simplicity rather than auction firepower.
It depends on the provider and the deal. Published rates run from about $15/user per month for Box, or flat plans near $15/mo like Onehub, up to flat plans such as Ellty at $149/mo or SecureDocs at $250/mo. Most enterprise rooms (iDeals, Datasite, Intralinks) quote custom pricing based on users, storage and deal length. See the pricing overview for a full breakdown.
Why is so much VDR pricing quoted as "Custom"?
Enterprise vendors price around variables like page or data volume, number of users, and how long the room stays open, so they quote per project rather than list a number. That flexibility helps on large deals but makes small ones hard to budget. Our pricing guide explains the common models and typical ranges.
Do virtual data rooms offer a free trial?
Many do. Ellty, iDeals, Ansarada, Firmex, Box, ShareFile and several others let you test the room before committing, usually for one to two weeks. Others such as Datasite, Intralinks, Drooms and Diligent skip trials and go straight to a scoped demo. Trials are time-limited access, not a permanent no-cost option.
What is the cheapest way to run a small deal?
For a short raise or a single sale, flat monthly plans keep costs predictable: Onehub starts near $15/mo and Box near $15/user/mo, and Ellty and SecureDocs offer fixed monthly rates without per-page charges. Avoid custom-quoted enterprise rooms unless you genuinely need their scale. We compare the low-cost options in cheapest data rooms.
Security
Are virtual data rooms actually secure?
Yes, that is the point of using one over a shared drive. Reputable rooms encrypt files in transit and at rest, enforce granular permissions, watermark documents, and log every view and download for audit. Read what to look for in VDR security before you shortlist.
What is the difference between SOC 2 and ISO 27001?
SOC 2 is an audit report on how a provider handles security and availability; ISO 27001 is a certified information-security management standard. They overlap but are not the same, and strong vendors hold both. The SOC 2 explainer covers what each one proves.
Which providers are independently certified?
SOC 2 is effectively the baseline that nearly every provider we track meets; ForData is the exception, certified to ISO 27001 with EU hosting. The enterprise tier (iDeals, Datasite, Intralinks, Ansarada, Firmex and more) adds ISO 27001, while some SMB tools like CapLinked, SecureDocs, Onehub and DocSend hold SOC 2 alone. Our certifications guide shows who holds what.
Where is my data hosted, and can I keep it in-region?
Most rooms are cloud-hosted on major infrastructure, and several let you pick a hosting region for residency. If you need on-premise or European storage, Drooms, Brainloop and BlackBerry Workspaces support it, and ForData hosts in the EU. Data residency is worth confirming in writing; see data residency.
Choosing
How do I choose the right data room?
Start with the deal, not the feature list: match the room to your transaction type, number of users, timeline and budget, then filter on certifications. A tool built for a 200-party M&A auction is overkill for a seed raise. Our step-by-step how to choose a VDR walks through the trade-offs.
Which data room is best for M&A?
For large or competitive M&A, the specialists lead: iDeals, Datasite, Intralinks and Ansarada are built around due diligence workflows, Q&A and deal analytics. Ellty and Firmex are worth a look on mid-market deals where ease of use and value matter more than heavy tooling. Compare the field in best data rooms for M&A.
What is the best option for startup fundraising?
Founders usually want something fast to set up and inexpensive rather than enterprise-grade. DocSend suits pitch-deck tracking, while Ellty, SecureDocs and Onehub cover a full raise without a big commitment. See data rooms for startups for the shortlist and why.
Do I need an enterprise room or will a lighter tool do?
If your deal is small, short and not heavily regulated, a lighter room like Onehub, Box, Ellty or SecureDocs is usually enough and far cheaper. Reach for enterprise platforms when you have many bidders, strict compliance, or complex Q&A. Put candidates side by side in the comparison table.
Setup
How long does it take to set up a data room?
Less than you would expect. With documents ready, most teams have a room live in a few hours, and a full structured setup rarely takes more than a day. The work is in organising files, not the software. Follow our setup walkthrough to do it once and do it right.
How should I structure the folders?
Mirror how buyers do diligence: top-level folders for corporate, financial, legal, commercial, HR and IP, then clear subfolders inside each. Consistent naming and numbering saves hours of Q&A later. Grab a ready-made layout in the folder structure template.
What documents actually go in a data room?
Broadly: incorporation and cap-table records, financial statements, material contracts, IP and employment agreements, plus any licences or compliance files relevant to your deal. The exact set depends on transaction type and buyer requests. See the full document checklist.
Can I switch providers partway through a deal?
It is possible but disruptive, so choose carefully up front. Most rooms support bulk export of files and folder structures, and some vendors assist with migration, though permissions and audit history rarely carry over cleanly. If a switch is unavoidable, plan it between diligence phases rather than mid-Q&A.
Find your data room in five minutes
Answer three questions about your deal and we will match you to the right-scored VDR. No vendor pays for placement.
Scores are our own and follow a fixed methodology; no vendor pays for a better position. Pricing is deliberately left off here, indicative USD figures live on each review and on the pricing hub.