How to Find the Best Data Room Alternatives

Data rooms are a crucial tool for ensuring that M&As and other deal-making activities run efficiently. They can help teams store large amounts of files and access them on multiple devices. With the right features, they allow teams to work together on a project without having to manage multiple platforms or worry about losing information in the email inbox. They can protect what are the different ways to fund your startup sensitive information with 256-bit AES firewalls, a firewall and cloud backups.

Examine the features each provider has to offer to figure out which data storage space is ideal for you. Some have advanced features like redaction, which blacks out specific areas of a file so personally-identifiable information stays private, and fence view, which covers the screen with a digital view that prevents screenshotting. Others offer security certifications such as ISO 27001, SOC 1/2/3, GDPR, and HIPAA. Other features to consider include multi-factor authentication, audit trails, and a re-usable NDA.

A good alternative to a data room is one that provides an extensive suite of collaboration tools. These include presentations, word processors, software, and spreadsheet program. It should have a large storage capacity, and accommodate a variety of file formats. It should also permit users to create groups with different access privileges and have a customized watermark.

Clinked is another option. It provides a full virtual data room solution. It comes with standard VDR functions, such as drag-and-drop and bulk uploads, but it also offers social media integration as well as workflow management, knowledge management, and document management. It provides a free 15GB trial with basic storage and sharing capabilities.