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.

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Showing 1 - 20 of 37 products
Showing 1 - 20 of 37 products


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

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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

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Datasite Diligence

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

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

ShareFile VDR

ShareFile Virtual Data Rooms is an on-premise and cloud-based virtual data room solution that serves businesses of all sizes. It caters to investment banks, private equity, venture capital, biotech, pharmaceuticals, real estate an...Read more


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


DocullyVDR is the youngest data room with a peppy platform interface, a bank-grade secured application architecture & securely hosted on Microsoft Azure. At $250, DocullyVDR offers a per month billing model with all premium featu...Read more

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ContractZen is a cloud-based solution that offers metadata-driven contract and meeting management, e-signature and virtual data rooms (VDR). Users can upload and store contracts and other documents by emailing attached docume...Read more

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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

Vault Rooms

Vault Rooms is a virtual data room solution, which helps businesses collect and share confidential documents with multiple parties. Vault Rooms facilitates M&A transactions across a wide range of industries including investment ba...Read more

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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

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


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

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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

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Datasite Acquire

Datasite Acquire is a web-based deal management solution designed to help small to large organizations manage IPO processes and collaboratively conduct buy-side due diligence. Features include status tracking, file transfer and ma...Read more

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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

Google Drive

Google Drive helps users store company data in one place. Users can access files from desktop and mobile devices and control how team members share these files. The platform provides a central admin panel, data-loss prevention and...Read more


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


eFileCabinet is a document management solution focused on helping businesses of any size to improve their profitability and productivity by reducing paper within their operations and streamlining their work processes. eFileCabinet...Read more

iDeals Virtual Data Room

iDeals Virtual Data Rooms is an on-premise and cloud-based virtual data rooms solution. It caters to investment banks, legal firms, life sciences, real estate and other large corporations. Primary features include document managem...Read more


DealRoom is a cloud-based M&A lifecycle management software for investment banking, private equity and corporate development teams. The solution helps organizations to manage deals by storing and sharing documents, track due dilig...Read 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.