Recommendations on Search Investor Data Room Providers

searcher profile

June 18, 2024

by a searcher in New York, NY, USA

What virtual data room providers does everybody use to ensure that investors have consistent and uniform access to deal information during the fundraise? Any other best practices/tips for maintaining an investor dealsite during the closing process?


Historically I have been a user of Dropbox, but it does not allow easy control of downloading some documents and it also shows a list to everyone of who has been invited. Ultimately, the three features most important to me are: (1) control who has access, ie members cannot invite other members; (2) control visibility of who has access, so nobody outside of me knows who all has been invited; and (3) monitor/control the download of certain documents that may be more commercially sensitive for the seller (eg just adding a watermark is fine)


The professional platforms I've seen all cost an arm and a leg and so I thought I'd poll the Searchfunder community on any reasonably cheap and serviceable options?

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Reply by a searcher
from Harvard University in Greenwich, CT, USA
I'm also curious about this, and insights here on Searchfunder seem thin... I'm already using Google products for my internal team, can anyone please explain why Google Drive isn't sufficient for due diligence doc management w/ investors? Seems like the main concern on the internet is about limited security (no watermarking) and compliance (limited audit trail functionality outside of "view history") but those don't seem like a big deal. Drive has all the collaboration functionality (comments, version history), plenty of storage, and with some basic folder structure it should be easily navigable/searchable. What am I missing?
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Reply by an investor
from Stanford University in Pleasanton, CA, USA
Thanks for the tag ^redacted‌. Hello ^redacted‌, I think box.com has more granular controls for shared files/folders. You may want to take a look at the "Hiding Collaborators" section to see if that meet your needs. https://support.box.com/hc/en-us/articles/###-###-#### Managing-Collaborators
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