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Top Virtual Data Room Providers Comparison

Ensure you are getting maximum value out of your data room for your specific case and usig this comparison to pick the best VDR just for you.

Updated on July 1st

We keep this virtual data room comparison up to date to bring you the latest overview.

Software with Data Room

Best for

Free Trial

Price

Reviews

Average rating based on review sites including G2, Capterra, TrustRadius and others.
Top 1 M&A Platform by G2
M&A, Corporate Development
Yes. 14 days
$1295/mon annually
4.7
Best Virtual Data Room Software by Digital.com
Small and Medium businesses
Yes. 14 days
$495/mon annually
4.8
Large businesses
Yes. 30 days
$$$$
4.6
Small and Medium businesses
Yes. 30 days
$$
4.5
Medium and Large businesses
Yes. 30 days
$$$
4.0
Small and Medium businesses
Yes. 30 days
$$
4.3
Small businesses
Yes. 30 days
$
4.2
Small businesses
Yes. 30 days
$$
4.0
Small businesses
Yes. 30 days
$$
4.5
Small businesses
Yes
$$
4.1

virtual data room companies COMPARATIVE OVERVIEW

Top 1 M&A Platform by G2
M&A, Corp Dev, Investment Banking, Finance, Tech,
Legal
Best Virtual Data Room Software by Digital.com
All industries
Finance
Finance,
Real Estate, Life Sciences
All industries
Finance
Finance, Tech,
Legal, Life Sciences
Accounting, Legal, Finance, Healthcare
All industries
Finance, Legal, Natural Resources, Life Sciences
Pricing
Pricing Plans
Monthly or Flat Rate
Monthly or Flat Rate
Per Page
Monthly Standard Subscription
Monthly or Flat Rate
Per Page
Monthly Standard Subscription
Monthly Standard Subscription
Monthly Standard Subscription
Monthly Standard Subscription
Pricing for 1 project
$1295 billed annually
$495 billed annually
$$$$
$$$
$185
$$$$
$400 (3 month plan)
$338
$$
$299
Pricing for Unlimited Projects
Upon request
Upon request
NA
NA
NA
NA
NA
NA
NA
NA
All Pricing Plans
Unlimited Users
Unlimited Data
Projects amount (number of rooms)
Basic plan - 1
Professional plan -
Unlimited
Basic plan - 1
Premium plan -
Unlimited
1
Basic plan - 1
Business plan - Several
VDR Lite or basic plan - 1
VDR Pro plan
- Multiple
1
1
1
1
1
Base Free
$0
$0
$7,500 for 10,000 pages
$175 / month
No data
$7,000 for 10,000 pages
$3,000-$4,800
/ year
$10-$338 / month
$5-$50 / month
$99 / month
Archive (DVD/USB)
$200
$200
$300+
$300 / copy
Upon Request
$300+
$300 / DVD
No
Upon Request
Upon Request
Features
Market Segments
Drag-and-drop Document Collection
Watermarking
Permissions
Build-in Viewer
Full-text Search
Deal Management
Importable Playbooks
Due Diligence
Importable Requests
No Q/A
Q/A
Q/A
Q/A
Q/A
Q/A
Q/A
No
Q/A
Post-merger integration
Progress Tracking
Pipeline Management
Collaboration
Project Management
In-Platform Communication
Analytics & Reporting
Audit Logs
Document Heatmaps
Diligence Analytics
Real-Time Activity Reports
Reviews
What People Mention as Main Pros
Requests feature, Value, Intuitive,
Easy of use
Full-feature data room, Clean interface
Easy document upload
User friendly
User friendly
Customer support, Simple file uploading
User friendly
Secure, available integrations
Price, Quick large file uploads
Value, user friendly
What People Mention as Main Cons
Lack of integrations
No diligence management
Pricing
Pricing
Lack of robust features
Pricing, user Interface
Lack of customizations, limited features
Search function limitations
Desktop version is slow, lack of permissions
Capabilities, customer service
Support
API Access
Live chat
Email, Call Support
Dedicated Success Manager
Best Overall Virtual Data Room
1

1. DealRoom

4.7
DealRoom provides a dynamic data room that revolutionizes traditional methods. DealRoom’s VDR & M&A project management software is well-suited for a multitude of industries at a price well below competitors.
97% Would Recommend
Visit website
Free trial
30 days

Pros and Cons

What users say about DealRoom

DealRoom virtual deal room equips users with features from simple file management to integrated AI and in-depth analytics. DealRoom eliminates complexities so users can learn the system within minutes.

Pros & Cons

  • Uploading and downloading documents, whether one by one or in batches is so simple. And most of all, this product is very affordable compared to other solutions.
  • Its easy to work with, its user friendly and always good tips on how to use the room more usefully.
  • Uploading and downloading documents, whether one by one or in batches is so simple. And most of all, this product is very affordable compared to other solutions.
  • I have yet to have any real problems. An increase to potential reports is all I can think of.
Best Overall Virtual Data Room
2

2. FirmRoom

4.8
FirmRoom's mission is to solve diligence process problems. The platform’s design and features assist with establishing transparency, efficiency, and robust communication, all while reducing stakeholder burnout and lost deal value and serves startups to large M&A deals.
97% Would Recommend
Visit website
Free trial
30 days

Pros and Cons

What users say about FirmRoom

Awarded as a “Rising Star” by FinancesOnline, FirmRoom is taking the industry by storm. Although they are most acclaimed for their M&A solutions, FirmRoom is suited to fit a wide variety of industries. Renowned users include Pfizer, Baird, and J.P.Morgan.

Pros & Cons

  • Uploading and downloading documents, whether one by one or in batches is so simple. And most of all, this product is very affordable compared to other solutions.
  • Its easy to work with, its user friendly and always good tips on how to use the room more usefully.
  • Uploading and downloading documents, whether one by one or in batches is so simple. And most of all, this product is very affordable compared to other solutions.
  • I have yet to have any real problems. An increase to potential reports is all I can think of.
Best Overall Virtual Data Room
3

3. Datasite

4.7
Datasite helps users compile buyer lists, create, send, and track emails, and manage NDAs all in one place. The automation does the heavy lifting so that users can stay on top of deals, and the platform is used in more than 170 countries.
97% Would Recommend
Visit website
Free trial
30 days

Pros and Cons

What users say about Datasite

Datasite has been used by over a quarter million companies worldwide. Similar to other VDR providers, they offer simplicity, cost-savings, and resourceful support for a variety of industries. Users have reported limitations with Excel files with macros and un-advanced search and reporting functions.

Pros & Cons

  • Coming soon
  • Coming Soon

Best of The Rest

4. Firmex

4.7
Firmex is a simple and secure data room that offers value, versatility, security, and control for confidential sharing needs. They allow control over important data and documents for over 20,000 new data rooms every year.
97% Would Recommend
Visit website
Free trial
30 days

5. Citrix

4.0
Citrix is an all-in-one workspace for access to all the applications one might need for work from one portal on any of their devices, no matter where they are. It is a multinational cloud computing and virtualization technology service that allows for document, design, and video sharing.
97% Would Recommend
Visit website
Free trial
30 days

6. Box

4.3
Box markets and develops collaboration, content management, and file sharing tools for companies. It allows organizations to keep their content in a singular platform for every step of the content lifecycle.
97% Would Recommend
Visit website
Free trial
30 days

7. Ansarada

4.2
Ansarada is a virtual data room designed to simplify the process of M&As, divestments, capital raising, audits, and restructures. The platform was built for secure information governance, integrated workflows, and company growth.
97% Would Recommend
Visit website
Free trial
30 days

8. Smartroom

0.0
SmartRoom is a virtual data room that was designed to offer speed, security, and service. They’re focused on helping organizations protect their information when conducting file-sharing collaborations.
97% Would Recommend
Visit website
Free trial
30 days

9. Dropbox

4.5
Dropbox brings files, cloud content, and web shortcuts all into one place. It is a file hosting service containing cloud storage, file synchronization, personal cloud, and client software in a secure manner.
97% Would Recommend
Visit website
Free trial
30 days

10. iDeals

4.1
iDeals is a virtual data room with a high level of detail on user access control and document protection. iDeals prides itself on a simple setup, top-notch security, distinguished branding, Q&A workflow, granular reporting, and automatic notifications.
97% Would Recommend
Visit website
Free trial - Yes

Cost:

Starts at $495/month (billed annually)

Capterra Rating:

4.8/5

Ease of use:

4.8/5

Customer Service:

4.8/5

Support Options:

Live chat, ticketing, knowledgeable, phone.

Platform Availability:

Online, iOS, Android

Free trial:

Yes, 30 days

Featured by Capterra:

Best Easy of Use Virtual Data Room (2020)
Best Value Virtual Data Room (2020)

What is a Virtual Data Room and How Does it Work?

A virtual data room is a secure, online, cloud-based storage center that acts as a repository for sensitive documentation. The use of data rooms allows users to share business information with clients, investors, and company leadership in a controlled environment.

How Does it Work?

Virtual data rooms allow for data sharing without the need for physical data rooms, and ensures that it is only shared with those who should have access.

This improves collaboration, and allows all those involved to contribute to the process securely with easy remote access to data and data sharing on a real time basis.

What is a Virtual Data Room and How Does it Work?

FirmRoom is the fastest, user-friendly virtual data room to get your deals done. Try 30 Days Free.

Necessary Virtual Data Room Features

Document Control

Virtual data rooms allow for the ability to secure and control sensitive documents while sharing them with internal teams, external teams, and third parties.

Content Organization and Presentation

Virtual data rooms enable  enhanced organization of documents in the form of folder structures or tags. This helps team efficiently locate  and access documents as well as have specific access to some folders but not all.

User Activity Monitoring

Virtual data rooms can show real-time updates and who made what changes to track progress. They can also be used to provide business intelligence into the document review process.

Accelerated Document Preparation and Review

When dealing with compressed timelines, users can easily set up and maintain documentation, administrative setup, and maintenance tasks while allowing for bulk changes to permissions ,policies, and organization.

What to Consider When Choosing a Virtual Data Room

Define needs and abilities

Consider the following questions:

  • How much storage do you need?
  • What kind of files and documents will you be storing?
  • What is your budget?
  • Which team members will be using the data room?
  • Will the entire company be using the data room?
  • Will the VDR simply be used to store documents or will it serve other purposes?
  • Will the use of the data room affect work streams?

Identify desired features

1. Security

Security is of the utmost importance when selecting a VDR.

When considering virtual data rooms, you should be looking for only options that are ISO 27081 compliant. Similarly, eliminate options that do not have two-factor authentication to reduce password theft, strong encryption methods to keep documents safe, and digital watermarking abilities to prevent illegal copying.

2. Document management features

Some virtual data rooms, such as FirmRoom,  allow teams to not only store documents and files, but also include in-text search, built-in document and excel viewer, and various filters. .

3. Permission settings

Permission settings are critical to explore when shopping for a VDR. Important things to look for are “view only” options and specific, or partial,  document sharing and restriction. The specificity of permission settings varies, and can have an impact on your collaboration and document safety.

4. Analytics

Your data room should provide data on all users, activity, files, and documents within the room. This is not only useful from a security point of view, but also from a project management perspective as it allows you to identify potential roadblocks, gauge users’ levels of interaction, and avoid redundant work.

5. Customer support

The best virtual data room providers offer 24/7 live customer support. Chat online with customer service or call the customer service line to gauge the level of responsiveness and your experience, as this will inevitably be useful down the line.  

6. Consider your budget

Pricing will be discussed further along in this guide; however, this is an important factor to consider going into the process of obtaining aVDR. Read reviews (with a grain of salt) and contact the providers to ask for a free trial so you can be sure that it is a good fit. Pay attention to interface, ease of use, and efficiency.

Virtual Data Rooms by Use Cases

Virtual Data Rooms by Use Cases

Below are some typical examples of use cases for virtual data rooms besides the most obvious, data storage. If you find yourself in one of these positions, a virtual data room may be worth considering

M&A

Virtual deal rooms are often used during the due diligence stage of M&A as a place to house and share thousands of documents with different teams, such as potential buyers and sellers.

Pipeline document management

A deal pipeline is the visual illustration or representation of all current deals, arranged by stages and potential that exists with each stage. Virtual data rooms can be used to organize the files needed for each stage of the deal pipeline to provide fast and effective access to the most up-to-date data available.

VDRs help ensure uninterrupted distribution of information and eliminating any potential loss of information. Data rooms can be used to assist in folder preparation, managing user access, uploading updated documents, exchanging information, sharing notes from prospects, compiling sources of information, and controlling data distribution.

Due diligence

Due diligence virtual data room

With the use of a data room with Q&A functionality, it is possible to synchronize all processes involved with due diligence, including diligence requests, communication, and document management, in one place - tailored for both buyers and sellers.

Many data rooms, like FirmRoom, have pre-made diligence folder structure templates that outline all of the information required. Teams can upload the template and the room will be structured accordingly.

IPO

Companies preparing for an initial public offering, or IPO, find data rooms extremely useful. Virtual data rooms allow for management of the whole documentation process while sharing company information securely with shareholders, underwriters, and all third parties involved.

Partnerships

Similar to M&A, partnerships entail forming an agreement with another business to start a venture together while not entirely merging.These are mutually beneficial agreements and, as in M&A, require a great deal of data sharing. This data can be shared in a virtual data room, so both companies have access to all of the information at the same time in a secure setting.

Conducting Audits

While audits are no one’s favourite thing, they’re a necessary evil. Virtual data rooms can make the process of being audited a bit less painful; all company policies, procedures, accounts, and other documentation can be shared with external auditors on a view-only basis through a data room with specific permissions.

Raising Capital

Increasing funding is an extremely important part of sustaining a new business. To do so, private financial details about your business must be shared with investors as you try to convince them that your product or service is the best. Virtual data rooms are used during fundraising to facilitate this information sharing with stakeholders and prospects.

Consultancy

Confidentiality and privacy are top priorities of consultancy businesses that require a controlled environment, which a VDR provides.

Manufacturing

Manufacturing industries use VDRs to share new designs or project data.

Any type of Document Sharing

If your company finds themselves losing documents or struggling to find files, a virtual data room might be for you.

A global survey of workers and IT professionals in 2012 by IDC revealed that document challenges account for 21.3 percent of productivity loss. To eliminate that, store them all in a virtual data room where everyone in the company will be able to access what they need, when they need it.

Industry Applications

Not only do virtual data rooms have a large amount of uses, but they also apply to a variety of industries.

Technology

Virtual data rooms allow tech firms to share information among teams spread across the globe to facilitate the spread of ideas within the companies.

Investment Banking

Investment banking processes like IPOs, capital raising, and M&A can demand huge amounts of information sharing for which the virtual data room is ideally suited.

Corporate Development

With the use of a virtual data room, companies can identify trends in data that they otherwise may have missed to determine corporate strategy.

Private Equity & Venture Capital

Private Equity and venture capital firms usually analyze several deals at once, and depend on virtual data rooms to securely organize all of this data to ensure that every deal in their pipeline is managed efficiently.

Legal Industry

Virtual data rooms can eliminate the typical mountains of paperwork by introducing electronic document sharing. This streamlines the process for every manner of legal proceedings.

Life Sciences

Life science firms use virtual data rooms for everything from clinical trial results andHIPAA compliance to licensing IP and storages of patient files.

Startups

When startups are talking with prospective investors, data rooms help them analyze interest.Virtual data rooms allow startups to see which investors are spending the most time reviewing specific company documents and how much time they spent in a room to get a better idea of their engagement level.

Business agents

A virtual data room provides an accessible means to share information on deals and closures, no matter what industry or how much paperwork may be involved.

Virtual Data Room Pricing

How much does a virtual data room cost?

Not all data room pricing is made equal.  A per-page structure, as the name states, charges per page. The cost is generally $0.10 $0.25  per page.

A per-user structure covers a set number of user licenses in the monthly cost, typically between $100-$250, and charges extra for each user.Certain providers base their pricing on storage size, and allow a certain number of GBs or a range of GBs.  And still others charge a flat fee, including a specific amount of data, unlimited pages, and unlimited users for a set price per month. This is the option utilized by FirmRoom.  

What makes them different?

VDR pricing is affected by a variety of factors, including the presence of features such as security, data management, project management, functionality, analytics, and software integrations. It is important to find a balance between what you are looking for in terms of features and cost.  

Best Price to Feature Ratios

From our research, these data room providers have the best price to feature ratios.

  1. FirmRoom
  2. Securedocs
  3. Sharefile
  4. Firmex
  5. Ansarada
  6. Intralinks
  7. Merrill Datasite

But, you’ll have to see for yourself - keep our guide in mind when you’re evaluating your options!

FAQ

Do you have volume discounts?

We offer volume discounts on a case-by-case basis. Please contact one of our sales reps to learn more: sales@fimroom.com

Do you offer free trials?

Yes. We offer the service free of charge for 14 days. No credit card required.

What billing options are available?

You can pay by credit card or bank transfer. We offer both monthly and discounted annual plans. This provides greater flexibility and savings compared to traditional 6 month contracts.

What are the benefits of flat rate FirmRoom
pricing over per-page pricing?

Flat-rate plans include data storage according to a chosen plan with no hidden fees or additional costs. Learn more

Does FirmRoom integrate with other software?

Yes. If requested, we can integrate with other software such as Slack, Salesforce, Marketo, etc.  Please contact a sales rep to learn more: sales@firmroom.com

Instead of a one-time flat rate, is there an option to be billed monthly?

Yes. This also would include data, users, and support according to the plan with no additional fees.