
Top-rated for implementation and support.
View reviewCompare the top-rated data room providers. Choose the best virtual data room software to protect your business data and conduct smooth corporate transactions.
Last Update: August 2025
If you’re looking for a flexible yet straightforward data room, iDeals might be the right solution for your business. It is quite young but has already gained a reputation as a reliable virtual data room provider that offers a high-quality product. iDeals is versatile enough to support your company during due diligence, Mergers and Acquisitions (M&As), and even more complicated corporate processes that involve data.
14 Days
SecureDocs is extremely user-friendly software with a pleasant design. It was founded in 2012 and is headquartered in Goleta, CA. It suits the needs of small-, mid-, and large-sized businesses in many industries that require a secure data storing solution. The company has a flat-fee pricing model and offers a 14-day trial.
14 Days
Sophisticated software can be easy to use, and Firmex proves it. In this virtual data room, you will have all the vital features for due diligence and M&As. This software also allows businesses to tweak almost every detail to adjust it to their needs. As a result, companies get a flexible yet straightforward solution.
Limited
Ansarada is a virtual data room created specifically for due diligence and M&As. This provider limits the features to those needed for these processes, which is helpful since the interface is not overloaded. Ansarada also offers built-in AI that can aid you in your decision-making process, fetching you the required data.
By request
Datasite is the global M&A transaction software of choice for dealmakers. Whether you’re an investment banker, lawyer, or corporate development team, Datasite gives you the speed, security, and intelligence to close deals with confidence. Find out how Datasite can transform your M&A process.
7 days
Digify is cloud-based data room software (VDR) that provides high-level document protection. It allows admins to customize access to sensitive files, track interaction, encrypt data, and create watermarks. More than 230,000 professionals across 138 countries use Digify. Clients can manage sensitive company information and confidential documents on a convenient platform with all the necessary functionality. Digify offers a 7-day trial for potential clients to see if the software fits their needs.
14 Days
DocSend software was founded in 2013 and is headquartered in San Francisco, CA. It’s a user-friendly and helpful file-sharing solution for small-, mid-, and large-sized businesses in various industries — from finance to biotechnology. DocSend is trusted by 30,000 companies worldwide. The company offers a free 14-day trial period for potential subscribers.
Demo
Drooms is a trusted virtual data room provider founded in 2001 and headquartered in Frankfurt, Germany. Other branch offices are located in Spain, France, the Netherlands, Italy, and Switzerland. The priority and pride of this award-winning company are top-notch data security and compliance, delivered to teams for large transactions and daily workflows.
30 Days
If you want to experience what it’s like to be a customer of a virtual data room provider with half a century of experience, try Intralinks. Unlike many legacy brands, Intralinks has avoided stagnation. Its virtual data room is flexible and equipped with all the functionalities a modern business requires. Best of all, Intralinks offers a free 30-day trial, allowing you to evaluate the platform firsthand to see if it’s the right fit.
14 Days
DealRoom is a niche VDR provider for M&A, also rendering services for due diligence, private equity, investment banking and others. It was founded in 2012 in Chicago and developed into a significant VDR provider. DealRoom’s competitive advantages are closing deals faster and at a lower cost, while providing advanced sectoral analytics. DealRoom operates as a cloud-based provider. It offers four pricing plans for different companies and a 14-day free trial.
Virtual data rooms (VDRs), also known as digital data rooms, enable companies to securely share sensitive files. Virtual data room platforms store, manage, and protect sensitive deal documents across mergers, fundraising, and due diligence.
For businesses operating in Hong Kong, secure document sharing is essential. Companies in Hong Kong often use digital data rooms instead of physical data rooms to keep their documents safe and organized. Virtual data rooms are widely used in the finance, real estate, and legal sectors. Here you’ll find leading virtual data room providers trusted by businesses in Hong Kong.
Choosing a virtual data room can be a daunting task. There are so many companies out there offering their clients the world just to get them signed up. However, as soon as you log into the virtual data room, you notice that it is quite empty and lacks many features you need to conduct business.
Instead of going from one virtual data room to another and trying each of them out, you can take advantage of our detailed virtual data room reviews, which compare and contrast the various virtual data room providers and give you the pros and cons of each.
When selecting a virtual data room, there are many things that you should take into account. First of all, consider the purpose of using the data room and your business objectives, i.e., whether you will be conducting an M&A transaction, online due diligence, or you simply need a safe and secure online storage system to keep all of your files.
Now, think about what features you will need and which would be absolute deal breakers if missing. If the price of the data room will be a primary factor, be sure to research to ensure that the features you need are included in the pricing tier you plan to use.
When choosing a reliable virtual data room provider, pay attention to such features:
Selecting a data room provider is a critical decision because you will be trusting the provider with sensitive documents, communications, and other materials. If this information were to leak, the damage to your business and any other parties involved could be severe.
Therefore, be sure to do your homework and find out as much as you can about each of the service providers that you are considering. At the very least, you should read some product reviews, which give you the pros and cons of each data room, and find out what customers are saying about them.
While most, if not all, virtual data room reviews are biased towards a particular product, our review is completely impartial and presents just the facts about the services and features that each data room offers. While it would be a good use of your time to do research on each individual data room, we have done all of the work for you so you can spend less time shopping around and more time getting work done.
The demand for secure, easy-to-use virtual data rooms continues to grow in 2025. Top virtual data room providers stand out for their security, user-friendly design, and advanced features such as AI-driven document organization and real-time tracking.
iDeals, Firmex, Datasite, and Ansarada are among the top virtual data room providers. These are strong data room choices for companies that value reliability, data protection, and seamless collaboration. Some of their most-valued features include robust security controls, clear permission settings, and smart tools that speed up due diligence and other workflows. But who truly comes out on top?
Here’s your go-to list of top data room providers with ratings, based on the latest user reviews, industry reports, and review platforms including G2, Captera, and SoftwareAdvice. Compare virtual data rooms based on user feedback:
Top-rated for implementation and support.
View reviewPreferred by banks and legal teams for robustness.
View reviewAI-powered insights make due diligence faster.
View reviewPopular with SMEs, praised for simplicity.
View reviewThe ratings reflect a mix of security, usability, features, and overall value from 2025 virtual data room reviews, including G2, Captera, and SoftwareAdvice review platforms.
The virtual data room market continues to grow in 2025 as companies need faster, more secure document sharing across industries. VDRs are no longer chosen based on basic storage features — it’s about advanced security, AI tools, and a seamless user experience.
Market leaders like iDeals, Intralinks, Datasite, and Ansarada are still on top. These digital data room providers offer trusted platforms for high-stakes transactions, including M&A, fundraising, and IPOs. They’ve kept up with user demand and have introduced advanced features like smarter automation, mobile access, and better permission controls. Here are the data room market trends that will make the deal-making process even smoother:
AI is becoming a standard feature in top VDRs. Tools like smart document indexing, AI-powered search, automated redaction, contract analysis, and risk alerts now handle tasks that used to take hours. These features speed up due diligence, help teams quickly find critical information, and automatically flag inconsistencies or potential risks. This saves time and reduces human error, especially in complex transactions.
With global data privacy laws becoming stricter, companies are looking for data rooms that meet high security standards. Features like multi-factor authentication (MFA), end-to-end encryption, and detailed audit logs are now non-negotiable requirements for most. Indeed, one of the main VDR growth drivers is the rising need for data security in finance, healthcare, and legal sectors.
While M&A is still a big use case, more companies are now using VDRs for everyday secure document sharing, real estate deals, fundraising, and board communications. This reflects a broader recognition of data rooms as business tools, not just deal-specific platforms. According to Deloitte’s 2024 Global Deal Trends report, over 40% of companies now use VDRs for ongoing operations, not just one-off transactions. That’s a clear expansion of data rooms in daily business workflows.
Here are the top benefits of a VDR, according to user reviews:
By the early 2000s, businesses used physical data rooms to store sensitive documents. But physical data rooms were costly, time-consuming, and often inconvenient for teams that operated in different places and time zones.
Now, physical data rooms are rarely used, having been replaced by virtual data rooms (VDRs) that offer a fast, secure, and flexible way to share documents online. Today, VDRs are essential for industries such as finance, legal, real estate, and technology, where confidentiality and easy access to information matter most.
Modern virtual data rooms include powerful tools that help businesses manage documents safely and efficiently. The best virtual data rooms offer the following features:
Security
Permissions
Document
management
Collaboration and
Q&A Module
Analytics
Extras
Virtual data rooms support a wide range of business processes that require secure, structured document sharing. The key use cases include:
Mergers & Acquisitions
Both processes involve many formalities, research, and document review. To simplify access, companies involved in mergers and acquisitions can use VDRs to participate in negotiations and safely view confidential and valuable information.
Initial Public Offerings (IPOs)
This transaction requires a high degree of transparency for the public and prospective shareholders. Meticulous document storage and management in an online data room is the optimal approach, enabling teams to complete the necessary steps to launch a successful IPO.
Fundraising
Whether you run a large company or a startup, participating in fundraising rounds can be key to business growth. However, convincing investors to commit capital is difficult. In this context, a virtual data room for due diligence can be an effective option for secure document sharing. It can facilitate sensitive information exchange and improve control over the process.
Strategic partnership
Even when companies are not merging or acquiring, partnerships can be important, as they are a beneficial option for specific services and new ventures. Data rooms offer a secure, controlled environment for sharing data like market research, product details, and legal agreements. With activity tracking and Q&A tools, both sides can collaborate while protecting sensitive business information. Establishing a secure method for sharing valuable information is a key step in building a high-quality, long-lasting partnership.
Secure document sharing
Beyond deals and partnerships, data rooms are used for secure, day-to-day document sharing. Real estate companies, for example, use VDRs to organize property records, contracts, and legal documents. This accelerates transactions and keeps information accessible only to authorized parties. Similarly, industries like law, finance, and consulting require strict access controls for sensitive files.
Data rooms have become vital tools for fundraising, joint ventures, mergers and acquisitions, and IPOs. With VDRs, your strategic transactions are more efficient, secure, and successful.
The energy sector is one of the world’s most globalized industries. Companies, investors, and governments worldwide collaborate on major projects across oil, gas, renewables, and utilities. Virtual data rooms (VDRs) are essential for securing and streamlining this international cooperation. They are particularly critical for:
Secure data rooms improve the way of interaction with counterparts and advisors, allowing sharing sensitive information with a number of parties and working on big-scale confidential projects. Using them for financial services is easy, cost-effective and secure. That’s why banks, private equity firms, and asset managers use virtual data rooms to:
Life science companies use VDRs for M&A, clinical trials, management, and regulatory communications. This saves funds and time and provides full data security during any IPO process in the biotech industry. Most commonly VDRs are used for:
Law firms and corporate legal teams deal with massive amounts of sensitive information. They need a secure space to store this data and share it with multiple parties, including courts, regulators, and external advisors. In this context, virtual data rooms are a must-have during:
Governments are usually trying to invest in new infrastructure. VDRs help to smooth challenging utility deals and close them successfully. This functionality enables teams to present asset cash flows clearly, derive actionable insights, maintain workflow control, and facilitate secure, smart deal-making.