Startups are at a point where they’re gaining their first capital, forming teams and preparing documents that must be organised. A virtual data room could be very useful in this instance. They allow founders to securely share their pitch decks with potential investors. They also provide an overview of who is watching the presentations and how long they are spending on them.
The best virtual data rooms are easy for investors to navigate and have robust security features to startups. This includes the ability of limiting access to users based on roles, IP addresses, and places to prevent screen capture, downloading or sharing of sensitive information. They can include customizable NDA template to prevent the disclosure of confidential information. Startups can track which documents are viewed most, to determine what areas investors spend more time on. They can then respond to their inquiries.
Having all this information prepared can help a startup impress investors during the due diligence process, which could take a few weeks or even months. A data room can make the process easier for everyone involved and helps make it easier to make a decision.