Investors typically request a complete set of documents, including financial metrics, before they approve funding. The organization of these documents in an online virtual data room can help startups simplify due diligence and impress investors. However, the market for digital investor data rooms is competitive, and it can be challenging to choose the right software. This article reviews some of the most popular options and gives tips on how to select one that best meets your needs.

In addition to a clean setup, you should look for a platform that allows for individual settings and offers support 24/7. Also, make sure that the VDR has a QAS feature that lets users ask questions and get answers. Certain platforms provide visual analytics, which can be beneficial for due diligence. The pricing structure must be clearly established, with options that include per-user, per-page, and per-storage. Flat rate pricing is generally preferred by most users, because it lets them forecast their costs more accurately.

Firmex is a renowned virtual data room company that has been in operation for over 12 years. They are known for their M&A solution but they can also be used for other projects. Their features include automatic indexing and secure document data room definition sharing DRM, and specific user permissions. They also provide strong security features, such as two-factor authentication, customizable NDAs and a selection of monitoring tools. They’re a great option for small and large businesses and offer a two-week trial free of charge.