Top Free Virtual Data Room Software

Check out our list of free Virtual Data Room Software. Products featured on this list are the ones that offer a free trial version. As with most free versions, there are limitations, typically time or features.

If you'd like to see more products and to evaluate additional feature options, compare all Virtual Data Room Software to ensure you get the right product.

Results: 11
(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

Justin K.
JK
The fact that you are able to see who is trying to view the link and how long they were viewing the link for. Also, it is very user friendly and... Read review
Andrew F.
AF
Easy to use and feature rich. Intuitive and simple, but has all the extra things you might want to analyze performance. I like the view by page and... Read review
(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.

Colin L.
CL
Ability to easily add and remove users and easily customize their access permissions. Read review
AI
The intuitive and clean UI is the standout for me. The ability to manage multiple projects from within one account is also a huge plus. Read review
(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

Lorenz L.
LL
It has an excellent file recovery system, which allows you to review the history of changes of each file up to many versions back. It allows to... Read review
Randy P.
RP
One of the most significant features that OneHub offers is their custom "White Labeling." This feature allows you to add your own company's logo... Read review

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.

Stefanie Marie S.
SS
The site is easy to use, the service is excellent! Read review
DP
Competitive price. Easy and interactive user interface. Not much IT technical knowledge is required to implement the SecureDocs. Users can easily... Read review
(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

LB
Customer service oriented, simple solutions for complex tasks, cost effective Read review
AE
Share Vault is a wonderful system to use if you are trying to share and collaborate on documents in a safe and secure area. You can add users and... Read review
(24)4.1 out of 5
Entry Level Price:Free

Since 2011, Sync.com 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.

Mohammed A.
MA
Sync.com is one of the rare Zero-knowledge cloud storage services providers that ensuring that your data in the cloud is safe, secure and 100%... Read review
Basheera A.
BA
Sync.com is the best Dropbox alternative I ever used. It comes with a 5GB of free storage space for the lifetime and you can earn 1GB free storage... Read review
(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

AC
It has what we need as a data room. When someone views or downloads a document - the details of that action are document and sent via email to the... Read review
(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

Harsha Vardhan M.
HM
An easy way to share data secure files with our clients and only letting them view files and disallow downloads and sharing Read review
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

Projectfusion is a simple to use and secure platform to share confidential files between organisations including law firms, corporations, banks and governments. Projectfusion offers maximum security hosting in the UK, EU or US with ISO 27001 accredited hosting. Share files with individuals or entire teams with granular security permissions. Projectfusion is intuitive, and easy to set up and manage. Close your deals quickly, and more efficiently with Projectfusion. Users receive their own dedica

0 ratings

Virtual Vaults is an innovative international firm providing secure and efficiënt data rooms. Throughout the past years it has gained a strong position as Virtual Data Room provider within the Capital Markets and Real Estate. Virtual Vaults actively listens to clients to implement targeted and effective improvements within their Vaults. With the use and application of the most modern techniques, Virtual Vaults is able to guarantee the unwavering security of global users and their data whilst ma

Top 10 Free Virtual Data Room Software in 2021

  • DocSend
  • iDeals Virtual Data Room
  • Onehub
  • SecureDocs Virtual Data Room
  • ShareVault

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.