Startups are at a point that they’re beginning to gain their first investments, forming teams and preparing documents to be put in order. This is where the virtual data room can be useful. They allow founders to securely present their pitch decks to potential investors. They also provide an overview of who is watching the presentations and the amount of time they are spending on them.
The most reliable virtual datarooms are simple to navigate for investors and offer solid security for startups. This includes the capability of restricting access based on roles as well as IP addresses to limit screen captures, downloading, or sharing sensitive information. They can even include customizable NDA templates to prevent the disclosure of sensitive information. Startups can track which documents are viewed the most often, and identify which areas investors are spending more time on. They can then follow up with investors to ask questions.
Having all this information prepared can help a founder impress investors during the due diligence process, which can take weeks or even months. Utilizing a dataroom will make the process easier for everyone and speed up the final decision.