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Data Room Providers


Data room providers provide companies, interest groups and corporations with a secure online platform to upload, share with, track and distribute information. This can help streamline the process of forming and maintaining business partnerships, such as mergers, acquisitions, and joint ventures, as well as streamlining the core processes and transactions that are dependent on efficient document sharing.

Each vendor offers a different set of features, but the majority offer a few basic ones. The ability to immediately access the past records is helpful in referencing deals from the past and analyzing performance, and the ability to alter the user’s access rights is crucial for optimizing governance. Many companies offer activity reports which show who has accessed the documents, the length of time they were viewed, and by whom. This helps users monitor the activity and security.

One of the most used virtual data room providers is Firmex the service has been operating for 12 years, and is able to support more than 100,000 projects that range from financial transactions to M&A. Firmex is renowned for its security features which includes detailed permissions for groups, users and documents, as well as dynamic watermarking to stop unauthorised distribution, and the capability to revoke access to documents remotely, even if they’ve been saved or printed.

Another well-known data room provider is Brainloop that offers a flexible and intuitive interface. Users can collaborate with peers in real-time and work on documents with the tools for collaboration offered by the software. It offers a range of customization options including the ability to alter the platform’s look and feel with avatars, images, and brand colors. The tool is ISO27001 certified and comes with an on-click NDA for top-of-the-line security.

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