Virtual Data Rooms: Which one is the best?

What is a Data Room?

A data room is a physical or virtual space where one party can disclose confidential information in a controlled manner to a number of other interested parties.

Data rooms are used frequently during mergers and acquisitions (M&A) where a seller and their advisors need to reveal information about their company or asset to several interested buyers at the same time.

What is a Virtual Data Room?

A virtual data room (VDR) is a virtual space that acts much like a physical data room except that all data is hosted securely online.

In the days before virtual data rooms, M&A potential buyers would need to visit an actual room in person to review stacks of critical documents and paperwork.

Today multiple potential buyers can access confidential information simultaneously online.

Why Use a Virtual Data Room?

For financial transactions, virtual data room software has become the norm, replacing the once-ubiquitous physical data rooms. Physical data rooms had their limitations and were time consuming and inconvenient for the parties involved. With the advancement of online security (which is of paramount importance to virtual data rooms), the physical data room became an outdated concept, being replace with a virtual deal room, where companies could share due diligence information securely and from anywhere in the world.

Who are the top Virtual Data Room providers?

Based on the Virtual Data Room providers reviews by Capterra on, the following are best Virtual Data Room providers:



Being one of the best virtual data room providers iDeals offers its users a perfect solution for all business processes that involve documents. Try it, and you will like it.



This Canadian vendor is one of the most well-known and trusted virtual data room providers. It offers a solution for numerous business processes that involve sensitive documents.



ShareFile by Citrix is suitable for businesses of all sizes. This software will help you keep your papers organized and available during deals and accelerate the processes.



If you need an experienced provider, you should consider Intralinks. Over decades this vendor learned everything about businesses. And it’s willing to help your company out.



If security is your main concern, you should try Watchdox as this provider focuses on safety. It might lack some functions, but your documents will be safeguarded.

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