If you’re planning to sell or raise funds for your business, you likely have plenty to share with potential investors. A virtual data room, also known as a due diligence data space, is an online repository that allows you to securely store files find out this here and information with the appropriate people at the right time.

The benefits of a virtual dataroom include:

Secure storage and sharing sensitive information A virtual data room allows secure storage and sharing of your data with multiple stakeholders while ensuring that you control who has access to what. This helps speed up due diligence process and reduces the risk of sensitive data being exposed.

Collaboration is improved: A virtual data room lets team members to work on projects even when they are in different locations. It’s also easy to manage access to projects and permissions, so that only the right people have access to the correct information.

Easy-to-use interface: Choosing a platform with reviews from users and an interface that is not a plugin and compatible with your software requirements will make it easier for users to get up and running. In addition, choose a platform that provides 24/7 assistance, so that should you run into any issues you can seek help quickly.

Choose what documents you’ll add in your data room. You’ll be required to include legal and financial documents, such as contracts, financial statements and intellectual property documents. You’ll also need to include a cap table that lists how the amount each investor owns of your business.