Data rooms are a vital what are the different ways to fund your startup tool for ensuring that M&As and other deal-making processes are conducted efficiently. They enable teams to securely store large files and access them from a variety of devices. They let teams collaborate without having to worry about losing data in email inboxes or juggling multiple platforms. They secure sensitive data by using 256-bit AES, a firewall and cloud backups.

Examine the features each provider has to offer to figure the data room that is best for you. Some have advanced features like redaction, which blacks out specific areas of a file so personally-identifiable information stays private, and fence view, which covers the screen with a digital view that prevents screenshotting. Others offer security certifications such as ISO 27001, SOC 1/2/3 GDPR, HIPAA. Other features to consider include multi-factor authentication, audit trails and a customized NDA.

A good alternative to a data room is one that offers an extensive collection of collaboration tools, such as presentations, word processors, software and spreadsheet software. It should have a large storage capacity, and accommodate a variety of file formats. It should also allow users to set up groups with different access rights and also have a custom watermark.

Another option that is worth considering is Clinked that offers a comprehensive virtual data room solution. It provides the usual VDR features, like drag-and-drop, bulk uploads and workflow management. However, it also includes social media integration, knowledge management, and document management. It gives a free 15GB trial with basic sharing and storage capabilities.