When you’re looking to sell your company or raise funds, it’s likely you have a lot of data and documents to communicate with potential investors. A virtual data room, also known as due diligence data rooms is a repository online where you can store securely files and information with the appropriate people at the appropriate time.

Benefits of a virtual room for data include:

Secure storage and sharing of sensitive data: Using a virtual data room lets web link you securely share your data with multiple stakeholders while ensuring who sees what. This helps speed up the due diligence process and reduces the possibility of sensitive data being leaked.

Improved collaboration: Using a virtual data room makes it much easier for team members to work on projects together even if they’re in different locations. It is also easy to manage access and permissions for projects, to ensure that only the appropriate people have access to the information they need.

Interface that is easy to use Users will find it easier to begin by choosing a platform with reviews from users, a plug-in-free GUI and is compatible with their software requirements. It is recommended to consider a platform that offers 24/7 support, so that in the event you have any problems, you can get help promptly.

Choose what documents you’ll add in your data room. You’ll be required to include financial and legal documents, such as financial statements, contracts and intellectual property documents. It is also important to include your cap table, which outlines how much of your company each investor owns.