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Virtual Data Room reviews by real, verified users. Find unbiased ratings on user satisfaction, features, and price based on the most reviews available anywhere.

Best Virtual Data Room Software

A virtual data room (VDR) is a secure online repository used for the storage and distribution of digital files and documents. VDRs allow companies to share confidential or proprietary information with an additional party in a controlled setting. A VDR’s robust security features often include encryption, two-factor authentication, and single sign-on controls. The tools enable the hosting of confidential information under strict permissions and manage the viewer’s ability to release the information by limiting the ability to forward, copy, or print the documents.

Digital rights management is a critical aspect of virtual data rooms due to their use during the due diligence process for mergers and acquisitions transactions as well as private equity and venture capital transactions. Additionally, legal firms and real estate professionals use VDRs as a controlled and secure setting for sharing confidential agreements that involve their clients. Besides the granular use cases for specific industries and professions, compliance departments also use VDRs as a hub for sharing sensitive compliance-related files. Businesses may incorporate a separate file storage and sharing software alongside a virtual data room as an additional document repository that requires fewer security measures.

To qualify for inclusion in the Virtual Data Room category, a product must:

Enable secure storage and distribution of content, data, and documents in a controlled environment
Provide security measures such as encryption, two-factor authentication, and single sign-on controls
Offer customizable permissions structures
Remotely control files through digital rights management
Verify, track, and enforce document permissions
Allow for the compartmentalization of data within multiple projects, guaranteeing zero overlap or interaction between the individual projects

Top 9 Virtual Data Room Software

  • iDeals
  • DocSend
  • ShareFile Virtual Data Room
  • SecureDocs Virtual Data Room
  • ShareVault
  • Onehub
  • Clinked
  • CapLinked

Compare Virtual Data Room Software

G2 takes pride in showing unbiased reviews on user satisfaction in our ratings and reports. We do not allow paid placements in any of our ratings, rankings, or reports. Learn about our scoring methodologies.
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(116)4.6 out of 5

iDeals Solutions is a sophisticated and trusted virtual data room provider. Our experience and exceptional results have been tried and tested by investment bankers, lawyers and top managers of enterprises around the world. As the most result oriented and flexible company in the market we always listen to our customers and offer them the most secure, comfortable and fast solution to achieve their strategic goals in any kind of transaction.

(306)4.7 out of 5
Optimized for quick response
Entry Level Price:From $10 user/month

DocSend helps business professionals share and control the content that drives the business forward. DocSend's powerful link-based system makes it easy to set security preferences for each stakeholder, receive notifications each time someone views your file, analyze content performance and create lightweight virtual deal rooms. Join over 15,000 companies that rely on share and manage sensitive information

(31)4.2 out of 5

Citrix ShareFile helps businesses exchange files easily, securely and professionally. Citrix solutions power business mobility through secure, personal workspaces that provide people with instant access to apps, desktops, data and communications on any device, over any network and cloud.

(24)4.1 out of 5
Entry Level Price:Free

Since 2011, has been on a mission to provide a safe space for the world to collaborate. Today, over one million businesses of all sizes use Sync’s award-winning cloud apps and ground-breaking privacy protection features to share big ideas, store important information and collaborate on game-changing projects.

Offering a free, 14-day trial with immediate access to your full-featured data room, SecureDocs is an easy-to-use, industry-leading virtual data room solution that can be set up in minutes. Trusted by businesses from around the world for fundraising, M&A, licensing deals, strategic partnerships, audits, business valuations, legal events, and ongoing corporate document storage, SecureDocs is the data room of choice for expedited deal management.

(15)4.6 out of 5

The ShareVault virtual data room makes it easy for you to securely share confidential documents with third parties. Backed by the experience of billions of dollars in deal transactions, ShareVault is the preferred virtual data room for M&A, Asset Sales, Fundraising, Licensing/Partnering, and Board Collaboration. Thousands of large, medium and small companies, VCs, investment bankers, law firms and accountants rely on ShareVault's simple and secure platform for streamlined due diligence. Com

(23)4.2 out of 5

Onehub is the secure file storage and sharing service built for businesses of any size. Bank-level encryption of your data as well as our granular, role-based permission structure means you can control who has access to your content and share critical business files with confidence. Onehub offers a suite of robust business tools such as virtual data rooms, client portals, Google Docs integration, automatic watermarking, branded workspaces, and custom agreements to enhance and expand your file

(12)4.3 out of 5

Clinked is a cloud-based client portal and collaboration tool. It enables teams, project groups and business clients to all collaborate efficiently on documents and files from within a secure cloud environment. Collaborative: integrate & share content, conversations and decisions: - Team member activity updates, e.g. file uploads, updates, comments, requests etc displayed in real-time activity streams & customisable email notifications. - Feedback, comments, approval requests etc are

(10)3.9 out of 5

CapLinked makes it faster, safer, and easier to manage business transactions in the cloud. CapLinked’s secure virtual data room platform provides companies with easy-to-use tools for capital raises, asset sales, mergers & acquisitions, real estate deals, investor & board reporting, business development negotiations, and other types of complex business transactions. The Wall Street Journal called CapLinked “the go-to place for setting up and closing deals,” and Inc. Magazine named CapLink

(4)4.3 out of 5

Digify is an award-winning cloud-based document security and data room software that gives you full control, protection and tracking over your documents. It is an all-in-one integrated solution combining document access control, advanced encryption, file tracking, print and download permissions and customizable watermarks. Companies use Digify to protect confidential information for fundraising and due diligence, protecting intellectual property, and safeguarding sensitive communications. Dig

(5)5.0 out of 5

Datasite the maker of Datasite Diligence virtual data room platform, helping M&A dealmakers around the world close more deals faster.

(2)3.8 out of 5

Firmex Virtual Data Room is a virtual data room software that keep data locked away in the same super secure data centres as major banks and financial institutions.

0 ratings

Brainloop CollaborationRoom - the leading solution for secure collaboration across company boundaries.

0 ratings

Brainloop DealRoom drives digital transformation in the boardroom through secure corporate governance & collaboration solutions.

0 ratings

M&A transactions, and private equity and venture capital transactions are filled with complexities — for both you and your clients. With multiple collaborators, large amounts of information and tight deadlines, you need a reliable data room solution. SmartRoom is designed to streamline the due diligence process by enabling you to share, collaborate and manage documents securely online.

0 ratings

Whether for sharing with external providers, in business negotiations or project work with partner companies – easy, secure sharing of files forms the basis of effective collaboration. Giving externals access to the existing corporate file servers is usually not desired. The same goes for outsourcing to a cloud service. The virtual data rooms from Cortado provide the ideal solution here. Completely on-premises, they give participants easy access to shared data rooms and give the company maximum

0 ratings

Leading corporations and professional firms worldwide trust with their most critical due diligence and secure information exchange needs. Our clients count on us for a powerful combination of intuitive technology, tamperproof security and sensible pricing all backed by around-the-clock, personalized support.

0 ratings

dataroomX ® is a virtual data room solution for due diligence of the provider rdts AG and as a trade name protected by copyright of the German Patent and Trademark Office.

0 ratings

DataSend is a virtual data room for secure file transfer.

0 ratings

Deal Room Data is a virtual data room service for brokers and M&A professionals. We provide a multi-level service for the independent broker up to the large firm.

0 ratings

DocEx is an enterprise-class document distribution solution designed for companies and firms with multiple sets of policies for sharing sensitive information with outside parties.

0 ratings

DocRAID is the pioneer in CloudRAID technology, 100% zero-knowledge backup and file sync, secure file exchange, and easy to use email encryption.

0 ratings

Drooms is the leading provider of data rooms in Europe, facilitating highly secure access to confidential documents as well as the ability to exchange them with third parties around the globe. Drooms allows for the transparent, efficient and secure management of confidential business processes such as commercial real estate transactions, mergers and acquisitions, NPL transactions and board communications. Drooms NXG is the first data room to take intuitiveness and intelligence to the due dil

0 ratings

EthosData's room service optimizes the due diligence process and offers an efficient method for sharing confidential information for online due diligence.

0 ratings

FileControl specializes in providing hosted software-as-a-service (SAAS), Active Knowledge and Litigation Management Solutions that help businesses attain efficiency and significantly cut costs.

0 ratings

A VDR is a necessity, but typical VDRs often create more headaches than they should. The platform is easy to learn, use, and start implementing right away.

0 ratings

We are the leading provider of Virtual Data Room system in Central and Eastern Europe, with 10+ years of experience, 500+ deals supported and EUR10 billion+ in total transactional value. We aim to become No. 1 in sensitive file sharing for B2B on every market we serve. Our main focus is to provide exceptional services, including the fastest and the most proactive customer service. So that each person that contacts FORDATA is provided with peace of mind. We focus on Poland and CEE region, but alr

0 ratings

FTAPI is a server software (OnPremise or as a service from the cloud), with which you can transfer and store data and documents of all types and sizes in 4 security levels. Thanks to our original FTAPI SecuPass technology with automatic key exchange also very convenient end-to-end encrypted .

0 ratings

HighQ is a provider of cloud-based enterprise collaboration and publishing software. HighQ provides innovative social software to some of the world’s leading law firms, investment banks and corporations.

0 ratings

Ipreo Prism Virtual Data Room provides modern virtual data rooms and portals enabling firms to securely store and share documents associated with fundraising and investor communications.

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SecureDocs Virtual Data Room
ShareFile Virtual Data Room
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Learn More About Virtual Data Room Software

What is Virtual Data Room Software?

Businesses use virtual data rooms (VDRs) to securely store and share sensitive company information in a safe, online repository, which can either take the form of a secure website or secure web application that is set up through a proprietary extranet. Businesses and clients can virtually meet within the room and examine the sensitive documents they have been given access to in order to make a business deal, discuss legal information, or simply review the documents as they see fit. Sensitive information typically includes private company documents; sensitive client, tax, legal or financial information; intellectual property; or any other important document that requires extra security to ensure its confidentiality. VDRs are ideal for companies that require a high level of safeguarding of certain documents but are also made easily accessible to those that are authorized to handle and share them. Before the introduction of virtual data rooms, physical data rooms were the norm and helped facilitate safe and secure document access and sharing. However, since virtual data rooms proved to be safer, more convenient, and less expensive than traditional physical data rooms due to their increased security measures and lower upfront costs, they have largely replaced the latter over time.

Key Benefits of Virtual Data Room Software

  • Safe and secure file sharing and document storage
  • Customizable security authorization and permission settings
  • Activity logs for transparency
  • Folder structures and file hierarchy features for additional organization

Why Use Virtual Data Room Software?

Virtual data rooms are important for industries that require safe and accessible storage and sharing of documents. Some businesses might compare the pros and cons of choosing between a virtual data room and a file storage and sharing software. While virtual data rooms provide some of the same features as a file storage and sharing solution, virtual data rooms offer much higher security measures and are essential for industries that require strong safety measures for their files. On the flip side, unless heavy security measures are needed, virtual data rooms prove to be inefficient and cumbersome due to the restrictions and authorizations involved. A simple file storage and sharing system would suit businesses that don’t need to comply with stringent security regulations. There are several industry matters that present a need for VDRs:

Mergers and acquisitions — VDRs are essential during the due diligence phase of a merger and acquisition (M&A) because M&As require the legal disclosure of all relevant documents and information pertaining to the companies involved in the acquisition process. During the due diligence phase of an M&A transaction, both involved parties can leverage the stable and secure environment that virtual data rooms provide in order to share relevant documents.

Board communications — In many cases, board members often require the exchange of sensitive or proprietary documents. Virtual data rooms provide a safe platform on which board members can easily communicate and share important board documents.

IPOs — Initial public offerings (IPOs) can be a cumbersome process. IPOs require businesses to be more transparent with their activities and transactions than they may be used to. VDRs can help those businesses navigate juggling their public-facing responsibilities with any internal compliance duties. Virtual data rooms can easily add new authorizations to new and prospective shareholders while keeping document security a priority.

Who Uses Virtual Data Room Software?

Any business that creates and shares sensitive proprietary or client information will benefit from virtual data rooms. However, some industries require the software more than others. Financial institutions benefit greatly from virtual data rooms, as they facilitate safe document sharing while also preventing cybersecurity risks, which are unfortunately commonplace in the industry. Additionally, any industry that faces identity theft risks, sensitive information leaks, or sensitive legal information would benefit from virtual data rooms because of the complex security measures VDRs offer.

Venture capital firms/private equity firms — Venture capital firms and private equity firms use virtual data rooms to securely share portfolio information, financial information, and tax documents.

Legal firms — Lawyers and other legal professionals can more easily share confidential legal documents between clients and authorized third parties in virtual data rooms than a standard file and storage sharing system.

Real estate companies — Real estate companies also deal with due diligence situations, so virtual data rooms are a major asset for the industry. Situations such as property exchanges, appraisals, and the process of selling a home involve confidential document sharing between several parties.

Nonprofit organizations — Any nonprofit that requires the storage and sharing of sensitive fundraising documents, grants and other financial documents, and association lists have a use case for virtual data room software.

Virtual Data Room Software Features

There are many useful features included in most virtual data room solutions:

File sharing — User-to-user file sharing is granular and restrictive to ensure the utmost security. However, authorized users that have the right to view certain documents can access them easily and safely within the virtual data room.

Security and encryption — One of the main features of a virtual data room is the ability to grant document permissions to specific users to maintain a secure setting. Files are kept safe and secure with encryption, two-factor authentication, as well as single sign-on controls. Additionally, watermarks and remote shredding add another layer of security.

Viewer history — Authorized users have the ability to track how long someone spent on a certain document, where clicks were made on the document, and where else a viewer has navigated within the virtual data room.

OCR — With optical character recognition, users can use full-text search terms to easily locate a word or phrase in a document.

Live chat — Live chat features encourage collaboration and conversation about specific documents, which is especially helpful for users that are collaborating with other users remotely.

View-only — For added security measures, users can adjust who has the power to edit documents within the virtual data room. Those who should not have the power to edit a document, and instead should only have the power to view it, can be assigned view-only access, which restricts editing.

Reporting — The reporting feature gives metrics and insights into page views, user account view history, and recent searches.

Drag-and-drop file upload — Users can easily upload documents into a VDR by simply dragging and dropping files and folders from their desktop into a designated folder that’s stored in the virtual data room.

Bulk upload — Users can upload more than one file at once to speed up the upload process in the virtual data room.

Potential Issues with Virtual Data Room Software

Authorization issues — While security is the main benefit of virtual data rooms, it can often lead to authorization and access issues. Users that have the ability to assign authorization will have the responsibility of ensuring all parties that require access to a specific document or set of documents gain accurate authorization. Users that do not have access to a product but are entitled to authorization may end up confused and frustrated, especially if they require the document for a time-sensitive reason.