Looking for the best Virtual Data Room (VDR) software for your startup? Look no further!
In this blog post, we will rank and review the 13 best Virtual Data Room software programs available. Virtual Data Rooms are becoming increasingly popular among startups due to their ability to manage and share sensitive data securely.
We will evaluate each Virtual Data Room program based on price, features, ease of use, and customer satisfaction. So without further ado, let's get started!
Data Room Checklist
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Our Top 3 Picks and Why
iDeals
iDeals takes the lead when it comes to the best virtual data room. iDeals aims at integrating workflow into the VDR environment with a customized space, detailed reports, and multiple management tools.
iDeals has been tried and tested worldwide by top managers of enterprises, investment bankers, and lawyers.
Firmex
The most trusted Virtual Data Room provider is Firmex, which provides a smart interface that allows users to work fast and efficiently. Firmex has an expert support team that provides around the clock support.
This VDR has a lot of powerful tools used to safeguard important documents and data.
SecureDocs
One of the fastest Virtual Data Rooms in the world is SecureDocs. SecureDocs is trusted by many companies irrespective of their size and scale.
It just takes 10 minutes to set up a VDR in SecureDocs, and at an affordable price. SecureDocs puts an emphasis on safety, which is why it has a high-level security system in place.
What Is the Best Virtual Data Room?
In this guide, we've ranked and reviewed the 11 best virtual data rooms, along with our top 3 picks, so that you can find the virtual data room that works best for you.
Choosing the best virtual data room can be quite difficult, with so many VDR options to choose from. We've only covered 11 virtual data rooms.
When choosing the right virtual data room for your startup, it's best to take the following into consideration:
We'll also compare:
Overview
OneHub is a secure virtual data room that stores and shares files for businesses of any size. This VDR offers a robust suite of business tools such as Google Docs integration, branded workspaces, client portals, custom agreements, and automatic watermarking.
OneHub offers a role-based permission structure and bank-level encryption when it comes to data. Most importantly, this VDR provides privacy and security.
Top Features
Pricing
OneHub has four different pricing plans:
At the basic stage, the Standard Plan is suitable for creating and running a team. The Standard Plan 1 TB of cloud storage, 50 workspaces, and three paid and 200 total users.
You can add an additional user for an extra $12.50.
The Advanced Plan allows secure file-sharing online and features unlimited cloud storage, 200 workspaces, five paid and 1000 total users. You can add an additional user for an extra $20.
You can request white label features and a custom domain for an additional $100.
The Data Room Edition Plan provides 24/7 customer service support and features unlimited data storage, 200 workspaces, five paid and 1000 total users. As with the Advanced Plan, an additional user costs an extra $20.
As its name suggests, the Unlimited Edition Plan features an unlimited capacity of cloud storage, workspaces, and users which is why it's more expensive than the Data Room Plan.
Bottom Line
OneHub securely stores, manages, and shares business data. Industries that tend to use this virtual data room include manufacturing, finance, scientific research, accounting, engineering, entertainment, and marketing.
OneHub safeguards data against cyber threats using its dynamic security toolkit. Businesses of all sizes can greatly benefit from the use of OneHub. You can try it for yourself with the platform's 14-day free trial.
Summary
Best for: M&A, Due Diligence, Fundraising and Legal Proceedings
Key Features: API, 2-Factor Authentication, Google Apps Integration, Multi-User, File Sharing, Notifications, Dashboard, and Password & Access Management
Price: From $12.50 Up to $500
Annual Discount: Up to 20%
Promotion: 14-day Free Trial
Overall Geek rank: ⭐⭐⭐⭐
Overview
DocSend enables the sharing, tracking, and managing of sensitive documents in a secure environment. This VDR supports sharing of documents through DocSend links, which eliminates the attachment of bulky documents.
Other features include receiving notifications when files are viewed, page-by-page analysis of content performance, and virtual deal rooms.
Top Features
Pricing
DocSend has four different pricing plans:
The Personal Plan provides 10GB of storage and 300 unique monthly visits per user. Large documents up to 500MB can be uploaded.
This plan offers integration with Gmail, Outlook, and Dropbox.
The Standard Plan provides 50GB of storage and 1000 unique monthly visits per user. Features from the Personal Plan are all included in the Standard Plan as well.
This plan offers salesforce integration billed at $20 per user on a monthly basis.
The Advanced Plan provides 50GB of storage and custom unique monthly visits. Large documents up to 1GB can be uploaded. Three users are included in the Advanced Plan- if additional users are required, $90 will be billed extra on a monthly basis.
Features from the Standard Plan are all included in the Advanced Plan as well.
Features from the Advanced Plan are all included in the Enterprise Plan as well. The Enterprise Plan offers custom training, onboarding, account management, and reporting.
Bottom Line
DocSend provides real-time insights, as well as updates and access to documents even after sending them. DocSend is a great option for sales teams, as this platform shows when prospects engage with sales content.
The DocSend Spaces feature is a virtual data room solution. A 14-day free trial is available to try it out.
Summary
Best for: Fundraising
Key Features: Multiple Integrations, Continuous Editing, Customizable Permissions, Tracking History & Notifications, and One Click NDA
Price: From $10 Per Month
Annual Discount: Up to 40%
Promotion: 14-Day Free Trial
Overall Geek rank: ⭐⭐⭐⭐
Overview
Box is a secure and easy-to-use virtual data room with file creation, sharing, classification, retention, signature, and co-editing. Box can be integrated with a wide range of services and applications.
Top Features
Pricing
Box has six different pricing plans:
10GB of storage and 250MB file upload limit.
100GB of storage and 5GB file upload limit
100GB of storage, built-in integrations with G Suite and Office 365, and collaboration of up to 10 users.
Unlimited storage, same built-in integrations as the Starter Business Plan plus one additional enterprise application, and collaboration across entire organization.
Unlimited storage and external collaborators, same built-in integrations as the Starter Business Plan plus three additional enterprise applications.
Unlimited storage, external collaborators, and enterprise application integrations.
Bottom Line
Box is best for small, medium and large businesses. It offers a solution for any business size and type, providing a collaboration platform that offers both security and scalable content-sharing.
Box also offers a 14-day free trial on all of their plans.
Summary
Best for: M&A, IPOs, Fundraising, Litigation and Due Diligence
Key Features: User & Role Management, File Following & Sharing, and Reporting & Auditing
Price: Free Plan Available and Paid Plans Starting at $5
Annual Discount: Up to 25%
Promotion: 14-Day Free Trial
Overall Geek rank: ⭐⭐⭐⭐⭐
Overview
iDeals offers the most comfortable and secure solution in order to achieve a startup's goals. This virtual data data room offers tools such as smart filters, two-step verification, data encryption, and more.
iDeals even provides audit trails which boost transparency and accountability.
Top Features
Pricing
iDeal has three different pricing plans:
The Pro Plan features 1 project, 5 administrators, and unlimited users. Flexible storage space of up to 10GB is included.
The Business Plan features unlimited projects, administrators, and users. Flexible storage space of up to 250GB is included. Features of the Pro Plan are also included.
The Enterprise Plan features unlimited projects, administrators, and users. Flexible storage space of up to 1TB is included. Features of the Business Plan are also included.
Bottom Line
iDeals is the most flexible and result-oriented VDR company in the market. It's best used from small to large projects and provides a 30-day free trial.
More than 25 file formats are supported and full control is given to maintain the confidentiality of your data.
Summary
Best for: Due Diligence Processes
Key Features: Data Import & Export, File Transfer & Sharing, Multi-User & Multi-App, Contact Sharing & Management, 2-Factor Authentication, Analytics, and Batch Permissions & Access
Price: Starts at $460
Annual Discount: Not Applicable
Promotion: 30-Day Free Trial
Overall Geek rank: ⭐⭐⭐⭐⭐
Overview
Fordata allows the secure management of confidential communication and documents between transaction parties. With individual file protection and AES256 Encryption, worries about security breaches are a thing of the past with this VDR.
Mass operations can be completed with the drag and drop functionality of bulk uploads and downloads in any format.
Top Features
Pricing
Fordata has three pricing plans:
Includes 1GB of storage and up to 15 users with the possibility of buying extra users.
Includes flexible storage, unlimited users, and 24/7 technical support.
Includes flexible storage, unlimited users, and 24/7 technical support.
Bottom Line
Fordata is often used by law firms, advisory companies, investment boutiques, and banks. This VDR solution securely manages communication between transaction parties, confidential documents, and control over users.
Fordata has individual file protection and AES256 Encryption to prevent security breaches. A 14-day free trial is available.
Summary
Best for: Sensitive File Sharing for B2B
Key Features: Access Controls & Permissions, Secure File Viewer, Data Security & Storage Management, and Document Classification
Price: Starts at €159,20
Annual Discount: 20%
Promotion: 14-Day Free Trial
Overall Geek rank: ⭐⭐⭐⭐⭐
Overview
Dropbox is a virtual data room that's accessible via the web and in applications that can be installed on both desktop and mobile. No matter which version of Dropbox you're using, it's safely secured with AES256 Encryption.
Top Features
Pricing
Dropbox has three different pricing plans:
Starts at 3 users and 3TB of storage space. Files can be recovered for up to 120 days and Office 365 integration is included.
Features from the Standard Plan are included plus unlimited storage space.
Features from the Advanced Plan are included plus individualized support.
Bottom Line
Dropbox allows the secure management and sharing of files across teams and devices. In terms of usability, speed, and performance- Dropbox is the pioneer of virtual data rooms.
Dropbox is a reliable solution for collaboration, backing up of files, and the use of third-party applications. A 30-day free trial is available.
Summary
Best for: M&A, IPOs and Fundraising
Key Features: User & Role Management, File Sharing & Storage, Policies & Controls, Device Syncing and Simultaneous Editing
Price: From $12.50 per month
Annual Discount: 10% to 15% off
Promotion: 14-Day Free Trial
Overall Geek rank: ⭐⭐⭐⭐
Overview
One of the most trusted and popular platforms in the VDR market is Drive Enterprise. It's affordable, accessible and rich in enterprise-oriented features.
Drive Enterprise easily ranks amongst the best cloud storage platforms.
Top Features
Pricing
Drive Enterprise has four different pricing plans:
30GB of storage and 100 participant video meetings.
2T of storage, 150 participant video meetings and recordings.
5TB of storage, 250 participant video meetings, recordings, and attendance tracking.
Unlimited amount of storage, 250 participant video meetings, recordings, attendance tracking, in-domain live streaming, and noise cancellation.
Bottom Line
One of the best cloud storage solutions available is Drive Enterprise, especially with the number of DMS (document management software) and DLP (data loss prevention) features it has. Drive Enterprise is an ideal solution for businesses that need a generous amount of storage.
As Drive Enterprise is different from the Drive version that Gmail users are familiar with, free trials are available only upon request.
Summary
Best for: M&A, IPOs and Fundraising
Key Features: Team Collaboration, Advanced Search Features, Access Controls & Permissions, Data Storage Management, and Alerts & Notifications
Price: Starts at $6 Per Month
Annual Discount: Not Applicable
Promotion: 14-Day Free Trial
Overall Geek rank: ⭐⭐⭐⭐⭐
Overview
FirmRoom is a cloud-based VDR that offers a solution for file sharing and document management. This virtual room has several key features, including user activity and data tracking, customized notifications, data analytics and audit trails, as well as individual and bulk uploads and invitations.
Top Features
Pricing
FirmRoom has three different pricing plans:
The Standard Plan features a single room, unlimited users, 3 free USB archives, and 10GB of storage.
The Pro Plan features a single room, unlimited users, 3 free USB archives, and 50GB of storage.
The Enterprise Plan features unlimited rooms and users, and 25GB + of storage.
Bottom Line
FirmRoom is designed primarily for the financial sector. This cloud-based virtual data room helps organizations manage acquisitions, mergers, and due diligence through file sharing and document management. A 30-day free trial is available.
Summary
Best for: M&A Professionals
Key Features: API, Data Import & Export, 2-Factor Authentication, External Integrations, Multi-User, Notifications, and Customer Management.
Price: Starts at $500
Annual Discount: Up to 50%
Promotion: 30-Day Free Trial
Overall Geek rank: ⭐⭐⭐⭐⭐
Overview
Founded in 2011, Digify is a relatively young and user-friendly virtual data room provider. Digify covers small transactions and low-level business needs with functionalities like security presents, revoke access, print and download permissions, access control, and more.
Digify can be integrated with Google Drive, Dropbox, and Box. Therefore, the platform comes at an affordable price.
Top Features
Pricing
Digify has four different pricing plans:
The Pro Plan includes 1 user, 3 Data Rooms, and 50 Data Room Guests.
The Team Plan includes 3 users, 10 Data Rooms, and 200 Data Room Guests. Features from the Pro Plan are included.
The Business Plan includes 5 users, 25 Data Rooms, and 500 Data Room Guests. Features from the Team Plan are included.
The Enterprise Plan includes multiple users, multiple Data Rooms, and unlimited Data Room Guests. Features from the Business Plan are included.
Bottom Line
Digify provides functionalities and features that are appealing for small, medium, and large businesses. The platform can provide unlimited data rooms with one account and offers file tracking, statistics, and document security.
Digify also supports the most popular file formats. The Team Plan and Enterprise Plan have a 7-day free trial.
Summary
Best for: Audits, M&A and Due Dilligence
Key Features: Access Control & Management, Audit Trail, Bulk Uploading, Data Security & Storage Management, and Reporting & Analytics
Price: Starts at $99 Per Month
Annual Discount: Up to 40%
Promotion: 14-day free trial
Overall Geek rank: ⭐⭐⭐⭐⭐ (1 star to 5 stars)
Overview
SecureDocs is a secure, affordable, and simple virtual data room that can be used to manage, store, and share sensitive files. This virtual data room is trusted for litigation, bankruptcy, acquisitions, mergers, strategic partnerships, due diligence, and corporate fundraising.
Top Features
Pricing
SecureDocs has three different pricing plans:
Unlimited users, data storage, support and training. Billed quarterly. Perfect for short-term projects.
Unlimited users, data storage, support and training. Billed annually. Preferred option for long-term projects.
Unlimited users, data storage, support and training. Billed annually. Great option for multiple projects being run simultaneously.
Bottom Line
SecureDocs is best for small, medium and large businesses. Free trials are available on their 3 month and 12 month plans.
SecureDocs provides features that allow administrators to set up permissions for PDF documents and Office.
Summary
Best for: M&A, IPOs and Raising Venture Capital
Key Features: Access Controls & Permissions, Data Security & Storage Management, Audit Trail, Secure File Viewer and Document Classification
Price: From $250 Per Month
Annual Discount: Not Applicable
Promotion: 14-Day Free Trial
Overall Geek rank: ⭐⭐⭐⭐⭐
Overview
Since 1968, Datasite has been providing a safe and user-friendly environment for acquisition and merger specialists. Data site has an intuitive, easy to use, and customizable platform with top notch customer support.
The optical character recognition that this VDR offers is useful for making documents searchable.
Top Features
Pricing
Datasite are quotation based and don't have set price plans. Their software is custom priced.
Bottom Line
Datasite is the solution for managing financial transactions for medium and large businesses. This virtual data room provides visual analytics and the ability to customize settings for document activity.
A free demo is included.
Summary
Best for: Capital Raising and M&A
Key Features: Access Controls & Permissions, Q&A Management, Reporting & Analytics, Data Security & Storage Management, Audit Trail and Bulk Uploading
Price: Quotation Based
Annual Discount: Not Applicable
Promotion: Free Demo
Overall Geek rank: ⭐⭐⭐⭐⭐
Overview
Since its founding in 2006, Firmex has worked with big companies such as Deloitte, Good Year and KPMG in its 12 years. The data room marketplace has undoubtedly been driven by Firmex, and it's no surprise.
This VDR streamlines mission-critical and complex processes for both small and big companies alike. Some of the processes include mergers, acquisitions, and financial transactions.
Top Features
Pricing
Firmex are quotation based and don't have set price plans. Their software is custom priced.
Bottom Line
Firmex is the solution to complex processes like litigation, compliance, and diligence. It's most used in the corporate and legal industries. Firmex is suitable for small, medium, and large businesses.
A free two-week trial is available.
Summary
Best for: M&A, Due Diligence and Compliance
Key Features: Document Management, User Invitations & Activity, Data Security, an Audit Trails & Reporting
Price: Quotation Based
Annual Discount: Not Applicable
Promotion: Free Demo
Overall Geek rank: ⭐⭐⭐⭐
Overview
Docully provides multi-level security and quality services which are best suited for strategic transactions. This virtual data room has several competitive advantages, including secure messaging, Q&A sectors, advanced administrator rights, and favorable pricing.
Top Features
Pricing
Docully has two different pricing plans:
Includes 1GB of storage and unlimited administrators and users.
Bottom Line
Docully is best used for strategic transactions as it's a trusted and secure platform. This virtual data room also offers competitive advantages, including user to user platform messaging, advanced Q&A, advanced usage alerts, activity tracking, and limited access administrative rights.
Docully also offers a 15-day free trial with storage up to 1GB.
Summary
Best for: Strategic Transactions
Key Features: Access Controls & Permissions, Alerts & Notifications, Activity Tracking, API, Audit Trail & Management, Authentication, and Automatic Backup.
Price: Starts at $100
Annual Discount: Not Applicable
Promotion: 15-day free trial
Overall Geek rank: ⭐⭐⭐⭐Frequently Asked Questions
Virtual data rooms comply with strict internal and local data security standards. Multiple layers of security features are implemented in a VDR to provide users with maximum data protection.
Virtual data room software is suitable for businesses and professionals in any industry. Currently, secure data storage is a universal need in the business world. Data Room software presently serves many business sectors, including M&A, Fundraising, IPOs, Investment Banking, and Law.
There's a few essential elements that must be considered when choosing a virtual data room:
In Conclusion
The greatest benefit of virtual data rooms is the security of confidential information. VDRs also provide functionalities that set user permissions and document activity tracking.
Documents can also be uploaded in large volumes. Virtual data rooms like Firmex, SecureDocs, Box, and Firmex are all great options for small to large businesses.
Datasite is best for medium to large businesses. For unlimited storage, VDRs like iDeals, Box, and SecureDocs are all excellent options. iDeals is a secure VDR provider for all business types and is our best overall pick.