Virtual Data Room Software Rating

Review the Best Data Room Providers for Online Deals

Compare the vendors by Security, Features & Price

by Data Room Rating Group

Data Room Providers Ranking 2020


iDeals is the best virtual data room provider according to global reviews. iDeals VDR offers all the features you need with a user-friendly interface for very affordable prices.

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This is the old-school provider that can become a solid solution for many businesses. However, you might feel like it’s not agile enough for your dynamic company.

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Citrix company provides several software solutions for online content collaboration, secure file-sharing. Citrix Sharefile is a digital workspace by delivering apps and desktops.

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Being one of the most experienced providers, Merrill Datasite knows what businesses need. This vendor tries its best to satisfy the expectation of its customers.

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This provider makes due diligence way easier and faster. Firmex VDR software proposes basic cloud solutions for Small and Medium-size businesses.

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Clinked Virtual Data Room is modern provided that was established in 2011 in the United Kingdom.

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High price deal room software was established in 2013. It provides basic and advanced features for all types of online deals.

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This provider focuses on Merger and Acquisition and does everything that’s possible to simplify this process for businesses. So if you need a solution only for M&A, take a look at Ansarada.

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This minimalistic and affordable data room is a good fit for many companies. SecureDocs lacks a couple of features, but the low price makes up for it.

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Digital data room commonly used for short-term deals of small and mid-size companies.

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The software is published in 2011. Digify online data room software compliance to the basic security certificates and it provides the main functions of data protection.

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WatchDox (acquired by BlackBerry Workspaces) software ensures the services for providing online deals and proposes several tariff plans according to clients' needs.

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Box cloud management software is a collaboration platform used for online file sharing and simplification of workflow processes.

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ShareVault data room is commonly used for short-term deals. The software provides basic VDR services and features for small-size business customers.

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It is a german digital data room provider that well known on the local market and is a good option for a deal with European partners.

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It is a polish online data room software, that is oriented on small business size clients of the European market.

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The online data room software was established in 2010. CapLinked ensures the weight range of cloud services for all business size companies.

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Provider proposes 7 days of free trial and several tariff plans for all business size company. It is a young provider in the cloud solutions market.

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This is a great data room for small and medium-sized businesses. V-Rooms focuses on banks and accounting firms, but this software will work for other companies, too.

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It is European VDR provider that was founded in London. EthosData proposes basic cloud services for providing online deals.

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It is British digital data room provider that well known on the local market and is a good option for a deal with UK partners.

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If you need a simple data room with basic features, Imprima might be your choice. This provider will help you with all the business processes that involve documents.

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German deal room software provider that operates on the market since 2000. Brainloop VDR is used in the European software market.

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Venue proposes several virtual collaboration services. It is the best VDR software for financial solutions online.

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VDR software proposes the basic online deal room features for short-term deals and software collaboration.

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Low-qualified digital data room provider that offers cloud solutions for file-sharing services. CM - cloud management software.

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HighQ VDR is a web-based management solution for providing deals online. Review online data room tools for your needs.

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idrShare is a young little-known provider of virtual data rooms, that operates since 2019.

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It is the best cloud solution for business cooperation on the Italian market. VDR provider ensures the basic security features for the European market clients.

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How the Data Room Rating is Formed

Are you looking for a virtual data room providers right now? Review the rating of the best virtual data room providers on our website. Potential users expect to get safety, multi functional tools, and quality technical support. Take the most out of our independent data room software review. We act in the best interest of the data room users-to-be and do not cooperate with VDR providers for their purposes. We make sure that dishonest policies and marketing ploys do not affect your choice. We gain a lot of experience in the course of our work and know for sure which aspects are critical for companies. We offer:

  • rating of the best data room providers;
  • the list of virtual data room software;
  • VDR provider features comparison;
  • the best data room for M&A due diligence;
  • deal room solutions.

To form a rating of virtual data rooms, our team views a lot of sources. After all, if we used only a few of them, then the rating would be incorrect. The greater the amount of processed information, the more truthful the assessment is. Our market experts analyze plenty of business software review sites. These are the sites where clients leave their comments and even tips. All this information is available on our site whenever you need it. Experts define the online data room Rating Score of providers using all the related websites. That indicator determines the place of a particular platform in the rating.

Our specialists update the data room rating according to the changes in the software review sites every week. Information is always relevant whenever you visit the site. We make the truth come out. Sometimes the deal room provider prefers to hide some flaws of their software development. You should not invest in something that will not benefit you. It is a general rule for any industry. Determine the goals and needs of your company first. That will help you to focus on the most suitable digital data room software. Analyze all the transparent information on our website, compare the top-rated virtual data rooms. Then move ahead to cooperation with the reliable VDR provider on good terms.

Virtual Data Room Guide

Virtual Data Room software is a certified online space for storing and exchanging confidential data. Organizations and entrepreneurs use the online data room in complex corporate processes such as mergers and acquisitions, financial transactions, online due diligence, communication with third parties, and more.

To help you make the right Virtual Data Room choice, we’ve studied technical details about a range of VDR providers, and the features of their software. We went through hundreds of genuine customer reviews to read the valid opinions about vendors and find out about their flaws. We paid particular attention to the quality of customer service because that’s one of the essential attributes of data room providers. The software becomes a cornerstone of every deal. Thus, customers should always have access to the support team if something goes wrong. Knowing all this information, we’ve created unbiased and detailed reviews you can find on this website. We hope they will help you to pick the solution that fits you the best, not wasting time and effort on searching for the information.

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Virtual Data Room

A virtual data room (can also be called a VDR, electronic data room, online data room, or deal room) is a highly secure cloud software to conduct transactions and exchange with confidential information between the several parties. It is a vital business tool for protected storing and sharing corporate documents. VDR software streamlines the exchange of information accelerating deals and improving communication between parties. In most cases, a virtual dataroom is employed when a need for due diligence occurs. Usually, it happens in such deals as merger and acquisition and other financial transactions. Before virtual data rooms occurred, due diligence processes were held in traditional physical data rooms. Because of PDR’s cost, time consumption, and security issues, businesses have transferred all of the documentation related processes to the online data rooms.

A virtual data room is an online website with limited and controlled access, which is supplied by the dataroom provider and can be disabled as soon as the customer withdraws. It is a vital feature due to the nature of the documentation stored in the online deal room. Apart from the controlled access, vdr provider sets certain restrictions for the users’ ability to view, copy, print, or edit the information.

The best data room providers deliver to their clients the ability to choose whether to use an online website or specially developed deal room software. In most cases, there is not so much of a difference. However, it is always better to have different options rather than just one.

How to use a Virtual Data Room
How to use a Virtual Data Room

Data Room Software Advantages

  • Security
    An idea of the online data room was born with a purpose to guarantee the high security of the data in online space. An electronic data room is the most protected digital environment that is certified proposes a lot of security services. Digital data room providers confirm their reliability with such certificates as HIPPA, SOC1 or SOC2, GDPR, ISO/IEC 27001:2013 Data Centres.
  • Costs
    A VDR software allows its owner to reduce the cost of the entire transaction by eliminating such business components as logistics, wages, and expenses related to the loss of the documentation. Apart from that, a decent service provider will supply its potential customers with different service packages depending on the client’s needs.
  • Speed
    The conjuncture of the doom room allows its owner to move all the required materials all around the globe with the help of internet cables that connect every corner. Documentation can be uploaded, downloaded, viewed, and edited online with the help of a convenient user interface that the online data room provides.
  • Ease of use
    The essential advantage of a virtual data room is an opportunity to manage all business process in one protected digital space. The VDR software has been developed with a customer in mind, which is why it is easy to navigate even without any documentation and help, which are usually included in the service package.
  • Transparency
    An online data room is a commonly used software for an IPO process where the company’s transparency is the key. Even though the public has to be aware of what is going on in the company, all the materials still have to be secure. It is why a virtual deal room is the only possible option that can satisfy all the needs there are.
  • Control
    The digital data room owner can grant and deny access to the documentation that is stored in the vault to the different parties. Apart from that, the VDR client can see which documents were viewed and changed, and at what time.

A virtual data room is a professional business tool that provides its owner with a wide range of beneficial features that make any documentation substantial transaction conduction smooth. VDR software using increases the efficiency of any business process there is, and the sooner the company implements such an instrument, the better it is for the corporation.

Virtual Data Room software

Choosing a secure data room, you should know what do you want to get from this service. Listing your requirements will help you pick the solution quicker since you know what you need. Some vendors have unique features and some lack of standard functions. So you should understand what tools do VDR services have in general, and then determine which ones you need.

Such an approach will not just simplify the search, but help you save the money as well. If you understand that you need only basic features, you can get a cheaper solution so that you don’t overpay for the functions you will never use anyway.  

Once you pick the suitable provider and implement the software in your workflow, you will notice the improvements instantly. When the business uses a fitting virtual data room, all the corporate documents are in order and can be easily accessed by authorized users. The participants of the deal don’t feel restricted or confused by the software, and the deal does smoothly and quickly.

Best Virtual Data Rooms Comparison

Virtual Data RoomRatingDeploymentBest forFree TrialPrice Category
iDeals Virtual Data Rooms4.97 out of 5.0SaaS, Web, Cloud, Linux, Android, Windows, iOSSmall, Medium and Large businesses30 Days FreeAll price categories, including Premium
Intralinks Dealspace4.85 out of 5.0SaaS, Web, Cloud, Linux, Android, Windows, iOSLarge corporations30 DaysPremium Software
Citrix Sharefile Data Room4.72 out of 5.0SaaS, Web, Cloud, Android, WindowsSmall, Medium and Large businesses14 DaysNot provided
Merrill Datasite Data Room4.66 out of 5.0SaaS, Web, Cloud, Linux, Android, WindowsMedium and large businesses14 DaysHigh Price, Premium Software
Firmex Data Room4.54 out of 5.0SaaS, Web, Cloud, Linux, Windows, iOSSmall and Medium businessesNoMid-Range Price Software
Clinked Data Room4.41 out of 5.0SaaS, Web, Cloud, Android, iOSSmall businesses10 DaysMid-Range Price Software
DealRoom Data Room4.33 out of 5.0SaaS, Web, Cloud, Android, iOSSmall and Medium businesses14 DaysHigh Price, Premium Software
Ansarada Data Room4.19 out of 5.0SaaS, Web, Cloud, Windows, iOSSmall businessesNegotiableNot provided
SecureDocs Data Room4.19 out of 5.0SaaS, Web, Cloud, Linux, Android, Windows, iOSSmall and Medium businesses7 DaysAll price categories
Onehub Virtual Data Room3.97 out of 5.0SaaS, Cloud, Linux, Android, WindowsSmall-size businesses14 DaysLow & Mid-Range Software, Discount pricing

How to Choose Online Data Rooms

Even those who proudly stand among the best virtual data room providers have their flaws. Of course, they might seem insignificant for those who focus on other features. But for some business owners, even the seemingly small disadvantage might be an awful drawback. So here is a quick guideline that will help you to differ the good from the bad.


Determine your Abilities

Understanding that you are in the need of the virtual data room is not enough. In fact, it should be a much deeper process that includes answers for the following list of questions:

  • Do you need the virtual data room service for the data storage only or for the online deals?
  • What is the approximate number of users that would be there?
  • What is the amount of storage do you need?

Answering these questions you start to review the virtual data room providers according to your business purposes.


Define the Data Room Features

Since you have already conducted market research, you should already know that there numbers of big players. However, each and every vendor supplies its clients with a different set of features which may vary. Usually, these sets may consist of:

  • Security & hosting
  • Accessibility & ease of use
  • File protection & user management
  • Collaboration
  • Customization
  • Customer support
  • Training
  • Deployment & availability
  • Trial & pricing

It is important for you to have a clear understanding of what it actually is, that you are willing to purchase. There has to be a balance between the variety of services you buy and the amount of money you spend.

Not every VDR provider has all the needed licenses to satisfy the requirements of specific industries. For example, often life science companies have to look for a suitable provider for much longer than firms from other industries because of the license. Therefore, if you know that your business has to work with unusual documents, check if the provider can deliver you the required solution.


Define your Budget

Just as always, you need to realize what amount of money you are ready to spend on this or another purchase. The virtual data room is nothing different in this case. Set your budget, keep to it, look for the VDR provider that will satisfy your needs and fit into your budget. Usually, online data room prices vary depending on the following aspects:

  • Number of users
  • Storage size
  • Number of documents
  • Available features
  • Exploitation period
  • A flat rate

Although vendors have to be transparent on their pricing policies, sometimes it gets tough to find the exact numbers without contacting the support department. While it is a great chance to hit two birds with one stone – find out what the prices are and check the quality of the service that the support team provides; sometimes it is preferred to postpone the contact for later times.

Some online data room providers focus solely on mergers and acquisitions and due diligence. It doesn’t mean that it’s forbidden to hold other kinds of deals here. But you will most likely feel rather restricted because in such data rooms you won’t have many features. VDR providers that offer solutions only for M&A and due diligence don’t overload their software with tools that are unnecessary for these business processes.


Compare Virtual Data Room Providers

After you have prepared the provider requirements, compare the services of the best data room providers. Whether the providers are meeting your business needs. Look at the comparison table of the data room providers above.


Review the Rating Score

There is plenty of review websites out there. In order to choose the best virtual data room provider, you should analyze a range of independent resources. View the data room providers’ score in the main table on the website.

free demo

Take Advantage of the Free Trial

Some virtual data room vendors offer a free trial, and if your candidate does as well – take advantage of it and try the software before paying for it. And if there is no free trial, look for a free demo. It will give you at least some sense of the service. You will be able to see the interface and all the functions. Always use your resources to the maximum, and in this case, it means to try the virtual data room for free for a limited amount of time. Firstly, only a decent service vendor will provide their potential customers with a free trial. Secondly, this is a great chance for the customer to get familiar with what an online data room is, in case if this is the first encounter with the virtual data room.

customer service

Try the Data Room Customer Service

It is extremely important to have 24/7 access to the support team when you go through a cumbersome deal. Therefore, read reviews to find out if you will be able to get help at any moment. Also, check if the VDR provider offers live training and a dedicated project manager. While communicating with the support team, pay close attention to how fast does a person respond to you, how professional the representative is in terms of online data sharing, how good does the agent knows how the product works, and other details.