Virtual Data Room

A virtual data room (VDR) is a software-as-a-service (SaaS) that lets companies share sensitive information via the internet, while preserving full control and exclusive ownership of it. VDRs play an important role in supporting external-facing workflows in many fields, including finance—mergers and acquisitions and initial public offerings (IPOs) are two common use cases— law and scientific research.

Compare All Virtual Data Room

Filters

Apply Filters:

X

Your Industry

Your Company Size

Price

Sort by

Recommendations: Sorts listings by the number of recommendations our advisors have made over the past 30 days. Our advisors assess buyers’ needs for free and only recommend products that meet buyers’ needs. Vendors pay Software Advice for these referrals.
Reviews: Sorts listings by the number of user reviews we have published, greatest to least.
Sponsored: Sorts listings by software vendors running active bidding campaigns, from the highest to lowest bid. Vendors who have paid for placement have a ‘Visit Website’ button, whereas unpaid vendors have a ‘Learn More’ button.
Avg Rating: Sorts listings by overall star rating based on user reviews, highest to lowest.
A to Z: Sorts listings by product name from A to Z.
Showing 1 - 20 of 37 products
Filters
Showing 1 - 20 of 37 products

Onehub

Onehub is a cloud-based collaboration tool and virtual data room that helps users securely store and share their business files. It can be customized to meet users' specific requirements and custom branding needs. Onehub offe...Read more

4.59 (29 reviews)

SecureDocs Data Room

SecureDocs is a virtual data room tool used for storing and sharing confidential documents both internally and externally. It is suitable for businesses of any size and a range of industries including used during due diligence, me...Read more

Ansarada

Ansarada Virtual Data Room is an artificial intelligence-enabled platform that helps businesses, deal or tender advisors and VC & PE investors manage acquisitions, mergers, portfolios, corporate transactions and more. With granula...Read more

4.55 (49 reviews)

Datasite Diligence Virtual Data Room

Merrill Corporation provides a Saas solution for the M&A lifecycle. Its flagship product, DatasiteOne, offers sophisticated analytics, ironclad security and dedicated customer support to enable deal success, from deal preparation ...Read more

4.67 (3 reviews)

Digify

Digify is a virtual data room solution for businesses of all sizes. The platform integrates data encryption, access control, rights management, dynamic watermarking and file tracking in one place. With Digify, users can creat...Read more

PactCentral

PactCentral is a secure cloud-based VDR platform that stores and shares all confidential documents with third parties. Replacing traditional data rooms, PactCentral streamlines document collaboration by providing advanced editing ...Read more

5.00 (9 reviews)

Docully

Docully is a data room solution with an interactive platform interface, a bank-grade secured application architecture and is securely hosted on Microsoft Azure. Docully offers a per month billing model with all premium features l...Read more

No reviews yet

Firmex Virtual Data Room

Firmex Virtual Data Rooms is a HIPAA-compliant cloud-based virtual data room solution for small, midsize and large enterprises. It caters to mergers and acquisitions advisory, corporations, funds and private equity, pharmaceutical...Read more

4.68 (90 reviews)

Content Central

Content Central on-premise or in-cloud document management software streamlines business and document-intensive processes for companies worldwide. Organizations of any size can control and track which users access, change, and sha...Read more

4.28 (39 reviews)

Vitrium Security

Vitrium is a cloud-based document management and digital rights management (DRM) solution that empowers businesses to securely store and share confidential sensitive files with trusted parties with ease, online and offline, withou...Read more

4.60 (60 reviews)

Software pricing tips

Read our Virtual Data Room Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

DocSend

DocSend is a secure sharing platform that helps you identify who is interested in doing business with you and protect your sensitive documents from getting in the wrong hands. With DocSend you can track who opens your docume...Read more

4.57 (51 reviews)

ShareVault

ShareVault is a virtual data room solution that facilitates the sharing of confidential documents with third parties during due diligence and other vital business processes. It suitable for businesses of any size and serves a broa...Read more

4.39 (36 reviews)

ContractZen

Secure governance software with advanced contract management, board meeting management, entity management, e-signature, and VDR that is loved by hundreds of customers from over 30 countries. Start your 30-day free trial today – no...Read more

4.65 (17 reviews)

CapLinked

CapLinked is a cloud-based integrated file sharing and document management solution that helps businesses seeking to exchange confidential documents with third parties. The most common uses of the application include mergers and a...Read more

Learn More

Projectfusion

Projectfusion, by OD Consultancy is a cloud-based virtual data room solution that helps businesses of all sizes with a unified platform to manage projects, set up data rooms and handle file sharing. Primarily catering to pharmaceu...Read more

4.80 (5 reviews)

Learn More

Imprima Virtual Data Rooms

Imprima Virtual Data Rooms are secure cloud-based online data repository that is designed to be used to store and distribute documents during the due diligence process. If you’re managing mergers and acquisitions, real estate...Read more

4.24 (46 reviews)

Learn More

FORDATA VDR

Fordata is a cloud-based virtual data room (VDR) solution that allows businesses in the financial and banking industries to securely manage confidential documents and communication between transaction parties. Fordata VDR is able ...Read more

4.50 (32 reviews)

Learn More

Admincontrol Virtual Data Room

Admincontrol’s Data Room is a cloud-based solution designed for businesses of all sizes. The solution is custom-designed to support due diligence and other similar business processes. Key features include document sharing, Q & A, ...Read more

No reviews yet

Learn More

EthosData

EthosData's virtual data room platform helps users manage, plan and secure transaction-related information such as Initial Public Offering (IPO) preparation tasks, M&A transactions and other fundraising activities. Designed for bu...Read more

4.39 (18 reviews)

Learn More

Box

Clinical research data, loan applications, blueprints, and videos: It’s all content. And it’s your organization’s most valuable asset, no matter your industry. Box gives you a a single, secure platform for managing the entire cont...Read more

Learn More

Popular Virtual Data Room Comparisons

Buyers Guide

Last Updated: June 23, 2021

The best thing about the internet is how easily it lets people share information. That can be the worst thing about it, too.

A virtual data room (VDR) is a software-as-a-service (SaaS) that lets companies share sensitive information via the internet, while preserving full control and exclusive ownership of it. VDRs play an important role in supporting external-facing workflows in many fields, including finance—mergers and acquisitions and initial public offerings (IPOs) are two common use cases— law and scientific research.

In this buyer's guide, we answer and explain:

What Is Virtual Data Room Software?
Common Features of Virtual Data Room Software
What Type of Buyer Are you?

What Is Virtual Data Room Software?

A VDR's main function is to store and serve documents in a secure manner. You can think of a VDR as a highly secure alternative to using email to share documents.

Screenshot showing drag-and-drop file upload in Firmex's VDR

 

Screenshot showing drag-and-drop file upload in Firmex's VDR

 

To understand why a VDR is more secure, first consider the many insecurities introduced when relying on email attachments. For example, let's say your company emails a contract as a .PDF or .DOC file to a customer for a signature. In theory, that customer could:

  • Claim they never received it, couldn't open it or view it
  • Print out or copy the contract and use it to solicit better bids from competitors
  • Download the contract to an insecure workstation where it gets leaked
  • Use software to surreptitiously change parts of the contract and claim it as the original

Now imagine that instead of a contract, you need to share confidential information that has regulatory or legal protections, like a client's investment or health records. Sharing sensitive documents via email opens up a host of legal liabilities.

It's important to remember that other file sharing tools, such as Dropbox and Sharepoint, can also introduce the same vulnerabilities as sharing files via email. While convenient, file sharing services like these are not a viable alternative to a VDR.

Keep in mind that a company can be on the right side of the law, but still lose money proving it in court. VDRs are designed to prevent these scenarios from happening in the first place. They do this by adding a variety of features and protections that email services lack.

Common Features of Virtual Data Room Software

Because of the unique role they play, VDRs can seem like an amalgam of several different genres of software. They typically provide applications in four main areas: Security, Document Management, Communication and Collaboration and Integrations. These are discussed individually below.

Stronger Security is the primary motivation for purchasing VDR software. VDR software helps a company securely share information by means of the following applications:

Access control Limit who can view, edit and share stored documents, including internal and external access
Encryption Encrypt data (either at rest, in transit or both) to prevent unauthorized access
Digital Rights management Prevent unauthorized downloading, copying and printing of stored documents
Secure browsing Allow users to view and browse documents while online, but prevents saving or printing them

Document Management applications help control and monitor who can access and edit documents stored in the VDR with applications such as:

Check-in/Check-out Control the chain of custody for digital documents, preventing version and ownership conflicts
Version control Add versioning functionality to individual documents, providing reversion options and maintaining a record of changes

Communication and Collaboration tools help communicate with clients about documents and information stored within the VDR. They handle:

Alerts and notifications Send alerts to clients (via standard email) to notify them when actions are required (to, for example, view and sign a document)
Q & A Add simple communication functionality so clients can ask questions within the VDR environment
Collaboration Tools for working collaboratively (adding comments and making suggestions to documents) within the VDR environment

Integrations applications help connect the VDR to existing content management systems. They assist with:

Integration with CMS Link VDR to an existing content management system for more seamless sharing and publishing workflows
Branding and customization Add design layout options to help match the VDR interface to your company brand

What Type of Buyer Are You?

Many VDR vendors tailor the applications and functionality of their products to use cases within specific industry verticals. Others offer more general purpose VDRs that can be customized to various use cases by means of workflow templates.

VDRs commonly support workflows in three general areas:

Financial: Mergers and acquisitions (M&As) are the most common scenario requiring use of a VDR. With M&As, the number of parties needing to access the information changes over time as a deal is considered, analyzed, discussed and agreed to or rejected. VDRs also provide records of access, which can be very useful for settling disputes and proving that the necessary disclosures were made. Initial public offerings (IPOs) are another common activity for which VDRs are employed.

Scientific: VDRs play an important role in scientific industries, allowing for the secure sharing of data between research institutions, manufacturers, trial partners, healthcare providers and regulatory agencies. VDR collaboration tools are particularly important for many scientific processes and workflows.

Legal: Some VDR vendors specialize in tools designed to support legal litigation. Lawsuits can involve massive quantities of documentation which needs to be shared, selectively, with one or more outside parties. VDRs play an important role in not only making certain information available, but also in preventing accidental disclosure.

If you require a VDR for a use case not listed above, you're not out of luck. VDR vendors offer a fairly wide range of both industry specific and general purpose functionality. As with any software purchase, your job as the buyer is to find the product that will best support your company's existing workflows and overall strategy.