24 Oct Using a Virtual Data Room for Startup Fundraising
Startups are at a point where they’re gaining initial investments as well as forming teams and creating documents that need to be arranged. This is where the virtual data room can be useful. They let founders securely present their pitch decks to potential investors. They also provide a list of who is watching the presentations and the time they spend on them.
The best virtual data rooms are simple for investors to navigate, and also offer strong security https://worldvdr.com/why-does-your-startup-need-a-data-room-for-investors/ features for startups. This includes the ability to limit access based on roles, IP addresses and locations to prevent screen capture downloads, sharing or downloading of sensitive information. They can even include a customized NDA template to avoid disclosure confidential information. Startups can keep track of which documents were viewed most, to determine what areas investors are spending the most time on. They can then follow up with their questions.
A complete set of information can help a founder impress investors during the due diligence process, which can take weeks or even months. Using a dataroom can simplify the process for everyone and speed up final decisions.