Best Virtual Data Room Software in the United States

The land of opportunities, the United States, has been a hub for innovation, modernization, and technological advancements. Businesses in the United States have always welcomed tech revolutions, whether it is data management, human resource management, marketing, customer relations, or whatnot.

Data management and virtual data rooms

Businesses have spent thousands and millions on secure and high-performing data management solutions, and virtual data rooms have filled all the gaps left by many other data management software. 

The virtual data room market has been growing globally and is expected to hit the $3.2 billion dollar figure by 2026, and North America is the major contributor to this growth.

However, many in the United States still don’t know much about online data room software and where to find the best data room providers.

Keeping that in mind, we have prepared a list of some of the best virtual data room software in the United States.

What is a data room?

Virtual or electronic data rooms are highly secure online (cloud-based) data storage facilities with advanced features for due diligence, deal-making, professional collaboration, and whatnot.

Businesses can use virtual data rooms as data repositories where they can upload, store, and exchange business data without any security threats. Also, businesses can use virtual data rooms as virtual workspaces where they can collaborate internally and externally. That is the reason why virtual data rooms are a top choice for business deals such as M&A, IPO, fundraising, and many others.

Top online data room software in the United States

This following list includes some of the best data rooms in the United States based on their reputation in the market and user reviews. In fact, these solutions are:

  1. Sharevault
  2. iDeals
  3. DocSend
  4. Firmex
  5. Digify

1. ShareVault

A highly secure data repository that allows businesses to safely share their confidential business documents with third parties, ShareVault is a name you can trust with your eyes closed. Among many other things to appreciate, ShareVault is a top choice for billion-dollar deals in different sectors such as M&As, board collaboration, partnering, licensing, fundraising, asset sales, etc.

ShareVault is a preferable option for hundreds of small and medium businesses, accountants, law firms, investment bankers, VCs, etc., because it streamlines the due diligence process. ShareVault’s core strength is its highest levels of data protection and monitoring tools.

2. iDeals

Being the virtual data room industry pioneers, iDeals has been dominating the market because of its hard-to-replace data room services. iDeals enjoy high customer ratings on every trustable business software review website, including Capterra and G2.

iDeals is known for providing maximum ease to its customers at every stage. For instance, the iDeals virtual data rooms hardly take 10 to 15 minutes for the initial setup process.

iDeals offers all the standard data room features and innovations of their own. Apart from a secure data repository, iDeals data room is a highly preferred business software for due diligence during M&A deals, real estate transactions, initial public offerings, etc.

iDeals is mainly recognized for three things:

  • Unique and unparalleled customer support
  • Cost-effectiveness (its benefits simply outweigh its cost)
  • Security and innovation

Apart from that, these virtual data rooms support 25 different file formats and are available in 14 different languages.

3. DocSend

With hundreds of reviews and a 4.6 rating on G2, DocSend gives you high levels of data security. You can share and control your business data to drive your company forward. Apart from all basic data room features, DocSend’s powerful link system makes it a resourceful data room allowing you to do the following:

  • Set security preferences for every stakeholder
  • Evaluate content performance on a page-by-page basis
  • Get notifications whenever someone views your file
  • Step up powerful virtual deal rooms

4. Firmex

When it comes to managing complex business processes such as compliance, due diligence, and litigation, businesses turn to Firmex virtual data rooms. Firmex, along with other standard data room features, is more valuable because of:

  • Built-in redaction feature, which is very effective in regulating the workflow
  • Auto-indexing feature, which keeps everything in order

Apart from that, Firmex has strong 24/7 customer support and other useful tools, including digital watermarking, file drag-n-drop, access restrictions for downloading or printing a document, etc.

5. Digify

Digify’s stronghold is its data management features, and it is also a virtual data room useful for due diligence and fundraising. Digify lets its users share business data safely, and it allows you to upload files from Google Drive, DropBox, and your computer.

Apart from other useful features such as digital watermarking and file access permissions, Digify helps you monitor all the activities related to your files. You can track who shared, forwarded, or viewed your documents. Most importantly, you can revoke access to restrict any user from sharing your files.

Final words

Virtual data rooms are already an important component of the United States business fraternity. For starters, they are highly secure, so you can share or store your business data with confidence. Also, their cost-effectiveness, ease of use, and collaboration tools make them a desirable business asset.

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