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Virtual Data Room (VDR) Software

Virtual Data Room

What is Virtual Data Room Software?

Virtual Data Room (VDR) is an online space for storing and distributing sensitive documents. VDRs will offer robust security and redaction tools, as well as the ability to collaborate. Virtual Data Rooms are most often used during mergers and acquisitions as a secure place to review sensitive corporate information.

Common Features

  • File Rooms
  • Q&A Management
  • Reporting and Analytics
  • File Sharing Collaboration
  • Data Encryption
  • Permissions and Access Right Management
  • Redaction
  • Artificial Intelligence Categorization and Indexing
  • Drag and Drop User Interface
  • Optical Character Recognition
  • Digital Rights Management

Top Virtual Data Room (VDR) Software

2024 Data Quadrant Awards

2024 Emotional Footprint Awards

At SoftwareReviews, we take pride in recognizing excellence. Each year, we present the Data Quadrant Awards to top-performing software products based solely on authentic user reviews, without any paid placements or analyst opinions. These awards highlight software products that excel in terms of features, vendor capabilities, and customer relationships, earning them the highest overall rankings.

At SoftwareReviews, we take pride in recognizing excellence. Each year, we present the Emotional Footprint Awards to top-performing software products based solely on authentic user reviews, without any paid placements or analyst opinions. These awards shine a spotlight on software vendors who excel in crafting and nurturing strong customer relationships.

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Products: 5
Next Award: Jul 2025

Top Virtual Data Room Software 2024

Product scores listed below represent current data. This may be different from data contained in reports and awards, which express data as of their publication date.

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Composite Score
8.1 /10
CX Score
7.9 /10

Leading Data Room for M&A Due Diligence Dealmakers require tools with features and capabilities that anticipate any roadblock they may face. With Datasite Diligence, you can set up a virtual data room (VDR) faster than ever before while gaining access to a set of leading features and expert support designed to keep your deal moving forward no matter the situation.

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Pros

  • Saves Time
  • Caring
  • Respectful
  • Client Friendly Policies
Badge Winner
iDeals Solutions Group

iDeals

Composite Score
8.1 /10
CX Score
7.8 /10

The iDeals Virtual Board Room which is powered by iDeals Virtual Data Room which is a cloud-based secure platform that provides a highly secure yet easy-to-use environment to manage boardroom communications. Moving from a paper-based system to an online boardroom portal can deliver numerous benefits to an organization.

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Pros

  • Respectful
  • Performance Enhancing
  • Client Friendly Policies
  • Fair
Badge Winner
Badge Winner
DealRoom

FirmRoom

Composite Score
8.0 /10
CX Score
8.1 /10

FirmRoom features a full suite of state of the art built in tools and features. FirmRoom is a highly adaptive platform that can be integrated into the IT solutions of almost any company. Although our product is designed with the specific needs of the financial sector—especially M&A due diligence—in mind, companies in a wide variety of industries are discovering the many potential uses for VDR tech in their fields. Industries currently using virtual data rooms to protect their data include: legal services, pharmaceutical and clinical research, mining and energy production and real estate management. ‍

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Pros

  • Continually Improving Product
  • Trustworthy
  • Effective Service
  • Fair
Badge Winner
Badge Winner
Composite Score
7.6 /10
CX Score
7.8 /10

Firmex is a global provider of virtual data rooms where more deals, diligence and compliance get done. As one of the world’s most widely used virtual data rooms, Firmex supports complex processes for organizations of all sizes, including diligence, compliance, and litigation.

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Pros

  • Enables Productivity
  • Effective Service
  • Caring
  • Fair
Badge Winner
Badge Winner
Donnelley Financial Solutions Inc

DFIN Venue

Composite Score
7.0 /10
CX Score
6.7 /10

A VDR platform that leverages AI technology and machine learning to accelerate deal closing. Continually optimized for security, productivity and usability, our VDRs are reinforced by our regional experts--an extension of your deal team. DFIN Venue virtual deal room lets you quickly self-launch one or multiple deals, complete bulk uploads and get clear pricing with an instant file-level page count and more.

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Pros

  • Caring
  • Effective Service
  • Reliable
  • Security Protects

Cons

  • Inhibits Innovation
  • Slower Product Innovation
  • Commodity Features
Ansarada

Ansarada

Composite Score
6.1 /10
CX Score
5.4 /10

Ansarada data room software is designed to help you realize and raise the potential of your business - every step of the way. This event preparation tools allow you to seamlessly sync information siloed across your business into a single source of truth containing your most accurate and up-to-date information.

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Pros

  • Respectful
  • Fair
  • Client Friendly Policies
  • Altruistic

Cons

  • Less Inspiring
  • Leverages Incumbent Status
  • Less Effective Service

Products below are ineligible for awards due to insufficient recent reviews

Composite Score
8.7 /10
CX Score
8.5 /10

Digify allows companies to protect and keep control of confidential documents. It is a cloud-based document security service with built-in encryption, digital rights management, file tracking and virtual data room capabilities. Integrating encryption, content protection, rights management, file tracking, watermarking and virtual data rooms in a single solution.

Pros

  • Helps Innovate
  • Continually Improving Product
  • Reliable
  • Performance Enhancing
Composite Score
8.6 /10
CX Score
9.2 /10

Share information with the right people, with the right permissions. Chat, discuss, answer. Archive your deal, safe and simple. That is why the Vault, our secure data room, is the right solution for users everywhere.

Composite Score
8.3 /10
CX Score
8.6 /10

Businesses can use virtual data rooms to safely send and store sensitive client information such as contracts, deal negotiations, and bidding information. Onehub virtual data room allows users to set robust user permissions and keep track of all activity with a cost-effective solution. That's why Onehub virtual data rooms include all of the essential features you need to get deals done faster.

Pros

  • Helps Innovate
  • Continually Improving Product
  • Reliable
  • Performance Enhancing

Cons

  • Less Transparent
  • Charges for Enhancements
Sterling Technology

Sterling VDR

Composite Score
7.4 /10
CX Score
8.9 /10

Sterling provides an integrated suite of Virtual Data Room deal-enablement services that eliminates unnecessary workloads and costs. Their services are driven by the in-depth knowledge of tech experts and bolstered by a dedicated support team that is assigned from the start of every deal until its completion.

Pros

  • Helps Innovate
  • Continually Improving Product
  • Reliable
  • Performance Enhancing
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