Best Virtual Data Room Comparisons, Reviews, Ratings & Pricing

What are virtual data rooms or VDRs?

VDRs are used by businesses to help store and share business documents. Frequently, businesses leverage VDRs to host proprietary business information required for high profile business objectives.

Often, companies will set up VDRs during merger and acquisition discussions to host and share materials between various internal and external parties. There are many documents that require review from executives, lawyers, accountants and bankers, among other parties.

Due to the highly confidential and sensitive nature, VDRs are set up because they offer strict security controls and customizable options to help manage the organization and operational requirements of sensitive projects.

Virtual data rooms are a specialty niche of the larger cloud storage industry and continue to gain momentum in the business community.

VDRs emerged from physical data rooms and the best vendors created software that maintain the tracking and audit trail, along with version control and security features that previously occurred with physical data rooms.

To help aid your decision making process, here are some of the best VDR vendors in the industry.

Virtual-Data-Room

Top 3 Most Important Features to Evaluate when Choosing a Virtual Data Room Provider

Virtual data rooms (VDRs) are online repositories of information that businesses use to store and share information. Typically, VDRs are used in specific situations related to confidential business transactions, such as mergers and acquisitions and raising capital or other sensitive deals that require a secure review of materials. In the global marketplace, many professional fields, […]

datacenter2

The Growth of the Virtual Data Room Industry

Virtual data rooms (VDRs) are a specialty niche of the cloud computing and cloud storage industry. Businesses have relied on data rooms since executives started buying and selling companies. Data rooms provide a secure and controlled environment to conduct due diligence. VDRs are used by businesses to help store and share business documents. Frequently, businesses […]

CapLinked is the premier virtual data room on the market because the software focuses on security and efficiency to help dealmakers manage transactions. CapLinked provides a secure platform that is optimized to work on mobile and across all platforms and devices making it easier for busy executives to review sensitive information.

CapLinked is different.

Data privacy is a huge factor that executives must consider when choosing how to host and store vital business information. Many software providers in the VDR space rely on plug-ins or third-party software such as Flash, Java, Silverlight or .NET to patch and integrate into their overall offering.

The CapLinked VDR solution is built on modern computer language designed for the web. Because the CapLinked software is built on Ruby on Rails technology, no plug-ins are required and the capabilities are consistent across all various browsers, operating systems and devices.

CapLinked does not require in-house IT departments to patch mobile devices or restrict access to certain employee devices. Not every VDR vendor works with existing and emerging employee bring your own device (“BYOD”) policies.

Caplinked Review

CapLinked offers some of the most comprehensive set of services and features available in the market today. The software provides industry leading security, along with the following features that facilitate review across business partners, such as bankers and lawyers. CapLinked places an emphasis on workflow to help executive improve deal flow.

  • Custom Branding
  • Bulk Uploads
  • Drag and Drop File Capability
  • Full Text Search
  • Transparent Pricing
  • 24/7 Customer Support
  • Mobile Compatibility
  • Anonymity Management
  • Audit Tracking
  • Collaboration
  • Data Protection
  • Data Storage Management
  • Document Tagging
  • Due Diligence Management
  • Procurement Management
  • Project Management
  • Role-Based Permissions
  • Secure Preview

CapLinked customers receive all of the listed features with the basic account, which starts at $39 per month per user. The low entry level price points makes CapLinked an option for all small, mid and large companies.

ShareFile Virtual Data Room by Citrix is a leading VDR vendor that manages business transactions in a safe and secure cloud environment. ShareFile, which is part of the Citrix family, focuses on enterprise solutions.

The ShareFile software intersects at the corner of security and simplicity. The software is hosted and runs as a cloud-based application to avoid unnecessary downloads or installations. ShareFile is confident in the software simplicity because there is no required training. However, rest assured that customers have access to 24/7 customer support that provides information ranging from quick tips to help with large data uploads.

ShareFile offers customizable workflow solutions to help managers organize and facilitate review of sensitive information. Project managers can set access rights and control permissions at the document level to ensure sensitive data is only seen by the right eyes. In addition to the permission control, managers can track activity to ensure that executives are actually reviewing the transaction materials.

ShareFile Review

The flexible workflow solutions highlight some of the ShareFile features. Among the other services and features, ShareFile provides the following benefits.

  • Flexible Storage
  • Third Party Application Integration
  • Anonymity Management
  • Audit Tracking
  • Collaboration
  • Data Protection
  • Data Storage Management
  • Due Diligence Management
  • Workflow Controls
  • Role-Based Permissions
  • Secure Preview
  • Industry Specific Tools

The ShareFile solution is built for businesses and aims at the IT market. ShareFile data services deliver secure files that are able to be synced and shared across all corporate and personal devices, so team members remain in a stable and secure work environment.

Although ShareFile provides multiple pricing options, the software focuses at the enterprise market, which may price small and mid sized businesses out of the market. The most popular plan starts at $100 per month for up to 5 employee accounts.

Drooms Core provides founders with a secure cloud-based virtual data room focused on the fundraising process. In the competitive VDR niche of the cloud software sector, Drooms offers a highly specialized software solution to help all companies looking to raise capital. The fundraising process can be complex and requires multiple touch points to complete due diligence, so Drooms offers founders and investors with an option to ensure your documents are secure, under control and easily accessible.

Preparation and organization are critical to companies looking to raise capital and Drooms provides VDRs to help companies throughout the fundraising journey. There are massive amounts of sensitive and confidential business materials, so Drooms provides a secure cloud solutions build on the industry leading standards.

Drooms Core

In addition, to the security measures, Drooms features the following services and benefits.

  • Anonymity Management
  • Auditing
  • Collaboration
  • Data Protection
  • Document Tagging
  • Due Diligence Management
  • Role-Based Permissions
  • Secure Preview

As Drooms focuses on data rooms specifically to manage the capital fundraising process, the core market is startups and small businesses. In fact, as an introduction to the software, Drooms offers a free plan, which includes 5 users and 1 GB of storage, along with access to the desktop and iPad app.

Drooms offers a basic plan, which is recommended and starts at $9.99 per month per user with a minimum of 10 users. Like the free plan, users have access to the desktop and iPad app, but 5 GB of storage (with additional storage for additional users).

For any business looking to set up a VDR during the fundraising process, then Drooms is worthwhile (especially with the freemium business model).

HighQ is a European based technology company that provides a secure VDR platform optimized for quick setup and fast access to complete deals. HighQ, which was founded in 2001 has helped complete over 10,000 business transactions across various companies in the legal, banking and corporate sectors.

The HighQ virtual data room is designed for efficiency making it simple to help executive quickly and securely upload sensitive and critical business materials. The cloud-based VDR enables deal teams, clients and other external vendors to review transaction documentation within minutes. Executives can rest assured that documents are managed with full access control and audit tracking capability.

HighQ

An interesting and unique component of the HighQ VDR is an advanced Q&A portion of the software. The VDR contains a module that allows team members to securely manage bidder questions and responses with advanced permissions, workflow and alerts to ensure that transactions are completed as quickly as possible with no unnecessary delays.

HighQ is also built on HTML5 technology, which means users can view materials across all mobile and tablet devices. Along with the mobile optimization, HighQ offers the following features and services.

  • Anonymity Management
  • Audit Tracking
  • Collaboration
  • Data Protection
  • Data Storage Management
  • Document Tagging
  • Due Diligence Management
  • Project Management
  • Role-Based Permissions
  • Secure Preview

HighQ provides businesses with an extensive set of features, which helps explain the multi-tier pricing structure. Unfortunately, preliminary pricing information is not available without requesting the company for a demo or quote.

Based on the different models for single-use data rooms for one off projects, multi-use data rooms designed for small teams and enterprise data rooms ideal for large deal teams with storage priorities.