If you're planning to sell your company or raise funds, it's likely that you have plenty of information and files to communicate with potential investors. A virtual dataroom, also known by the name due diligence data room is an online repository that permits you to securely keep and share information and documents with the right people at the appropriate time.

The benefits of a virtual information room include:

Secure storage and sharing sensitive information: A virtual data room permits secure storage and sharing of your data with multiple parties while ensuring that you control who sees what. This can speed up the due diligence process and decreases the risk of sensitive information getting exposed.

Collaboration is improved: A virtual data room allows team members to work on projects even when they are in different locations. It's also easy to manage access to projects and permissions, so that only those who are authorized to see the correct information.

Interface that is easy to use Users will find it easier to start by choosing a platform with user reviews, a non-plugins GUI and is compatible with their software requirements. You should also choose an option that provides 24/7 customer support to receive assistance swiftly if you run into any problems.

Decide what documents you'll include in your dataroom. You'll want to include legal and finance virtual board meeting documents, including financial statements as well as contracts and intellectual property documents. You'll want to include the cap table, which indicates how each investor is the owner of your company.