The Ultimate Guide to Data Rooms: A Comprehensive Review of the Best Data Room Providers

Choosing the perfect virtual data room requires careful consideration of your unique requirements, goals, and budget. Moreover, it’s crucial to extensively investigate providers and assess how they can enhance your business.

Therefore, we have created a list of the top-rated data room services to assist you. This list includes a brief overview, features, and ratings from verified users on reputable review platforms. By carefully reviewing and comparing the products with your specific needs, you can make a decision faster and easier.

Top 7 virtual dataroom providers 

The following tried and tested data room vendors have won the trust of business teams across the globe, making them the go-to choice for countless organizations.

Helpful tip: Сheck more reviews on Capterra, G2, and GetApp to get first-hand information from users.

1. iDeals

iDeals is a virtual data room software widely recognized across industries thanks to its robust security features. Also, iDeals has one of the most user-friendly interfaces, making it easy for users to navigate. It is used in mergers and acquisitions, due diligence, investment banking, fundraising, real estate management, board communications, and other deals.

Capterra score: 4.8


  • Watermarking
  • Fence view
  • Remote shred
  • Time and IP restriction
  • Multi-layered data encryption
  • SOC 1, SOC 2, GDPR, HIPAA compliance

2. Merrill Datasite

Merrill Corporation software solution provides ample support for large-scale transactions in M&A, due diligence, and post-transactional integrations. This electronic data room is widely acknowledged as one of the most suitable solutions for confidential data management at an enterprise level.

Capterra score: 4.5


  • Document version control
  • Granular document permissions
  • 256-Bit SSL/TLS encryption
  • Full-text search
  • Real-time audit trail

3. Firmex

Firmex is ideal for secure collaboration and file-sharing with potential investors or other interested parties. They offer a demo version and a two-week free trial for interested clients to test their VDR software before subscribing.

Capterra score: 4.8


  • Advanced digital rights management
  • Customizable document permissions
  • Advanced password control
  • Data backups

4. Onehub

OneHub online data room software prioritizes essential values that a provider should offer, including the ability to maintain total control over the security of your intellectual property and other deal-related documents within online file storage.

Capterra score: 4.5


  • Two-factor authentication
  • Role-based permissions
  • Automatic file destruction
  • Comprehensive tracking system

5. Citrix Sharefile

Streamlining complex processes like M&A, due diligence, restructuring and IPO is made easy with Citrix ShareFile data room. It is designed to be flexible and can support small, medium, and large projects, providing the most value to the finance, accounting, healthcare, and legal industries.

Capterra score: 4.5


6. Venue

Users of Venue, which caters to private equity firms, government agencies, investment funds, and startups, can enjoy a range of advantages from their data rooms. These benefits include cutting-edge AI-powered auto-redaction, strategic optimization, enhanced information security, and increased transparency.

Capterra score: 5.0


  • Symantec virus scanning
  • Secure file transfer via the Teridions Cloud WAN service
  • ISO/IEC 27001:2013 compliance
  • AI-driven auto-redaction

7. Ansarada

Ansarada supports portfolio management, tenders, assets, compliance monitoring, risks, and transactions. With Ansarada, business leaders can securely collaborate and exchange confidential documents without concerns about privacy breaches.

Capterra score: 4.7


  • 256-bit encryption
  • Multi-factor authentication
  • Single sign-on
  • Market engagement analyzer

Simple tips on choosing the best data room software

To ensure you select the best provider, do the following:

  1. First, define your specific needs and abilities to narrow your options and find a provider offering the required features.
  2. Once you have a list of desired features, it’s time to consider your budget and compare virtual data rooms that fit within your price range.
  3. Next, be sure to read reviews to gain insight into the strengths and weaknesses of virtual data room providers. You can also check out the provider’s website and talk to their support team to understand their services better.
  4. Finally, test out the software with a free trial. It will allow you to experience the VDR firsthand and determine if it meets your needs and expectations.

By using our data room review and following the steps above, you can confidently select a provider that will meet your specific requirements.

Securing and sharing documents online has become increasingly prevalent and is projected to continue its growth trajectory in the years ahead. In light of this, consider implementing a solution to streamline business collaboration, boost operational efficiency, and eliminate security risks. This way, businesses position themselves for success by leveraging the best data rooms to optimize workflows and deals.