If you’re planning to sell your company or raise funds, it’s likely you have a lot of data and documents to share with potential investors. A virtual dataroom, also known as due diligence data rooms is an online repository that allows you to safely save and share information and documents with the right people, at the right time.
The benefits of a digital data room include:
Secure storage and sharing sensitive information: A virtual data room can be used to secure the storage and sharing of your data with multiple parties while maintaining control over who sees what. This speeds up the due diligence process and decreases the possibility of sensitive data being exposed.
Improved collaboration: Using a virtual data room makes it simpler for team members to work on projects together even if they’re in different locations. It’s also simple to manage access and permissions for projects, so that only the correct individuals have access to the right information.
A user-friendly interface that is easy to use users will find it easier to begin using an option that has user reviews, a non-plugins GUI and is compatible with their software requirements. It is also recommended to select a platform that has 24/7 customer support to receive help quickly should you run into any problems.
Choose the documents you’ll include in your data room: You’ll be required to include financial and legal documents, such as contracts, financial statements and intellectual property documentation. It is important to include the cap table that lists how the value of each investor’s stake in your company.