Best Data Room Apps of 2025
You're searching with intent. You want the room that actually moves a round—not the prettiest feature grid. Let's talk to that part of you: the operator who ships, tracks, and closes. Here's a founder-ops take that cuts fluff, compares the real options, and makes it easy to pick the right platform today.
Related: Learn more about how data rooms give startups a competitive edge in fundraising and the importance of branded data rooms in fundraising.
What you’re really buying
You’re buying faster investor conviction with predictable cost. The rooms that win in 2025 are the ones that:
- get you live in minutes (not a weekend),
- show obvious deterrence on first click (per-viewer watermarks, MFA, screenshot protection),
- surface who actually read your docs (page-level analytics),
- and publish clear pricing so procurement doesn't stall the week.
Deep dive: Read our complete guide on document analytics and dynamic watermarking to understand these security features better.
Independent roundups and vendor comparisons all orbit these same themes.
External resources: For additional research, check out G2's Virtual Data Room category and Capterra's data room software reviews for user feedback and ratings.
TL;DR
Best overall for startups: Peony — $40/user/month with unlimited rooms & storage, full security (dynamic watermarks, 2FA/MFA, screenshot deterrence), and page-level analytics. It's built for fundraising, LP updates, and BD rooms—without per-project gotchas.
The Founder-Ops Rubric
- Speed to Investor – branded, organized room in minutes; mobile-clean; no plugins.
- Leak Deterrence – per-viewer watermarking, 2FA/MFA, screenshot deterrence, link expiry, audit logs.
- Follow-up IQ – page analytics + exports so you call the warmest partner first.
- Runway-Safe Pricing – public price, unlimited rooms or truly transparent scale.
Learn more: Check out our guides on startup data room setup and how to choose the best data room for investors.
These are the exact levers highlighted in startup guides and comparison pieces, and they're what investors react to in the first five minutes.
Top 10 Data Rooms for Startups (2025)
1) Peony — Best Overall (speed, deterrence, cost clarity)
- Pricing: $40/user/month, unlimited rooms, docs, storage, all core security & analytics included. Public, simple.
- Why founders pick it: AI-assisted organization → investor-ready room in minutes; dynamic per-viewer watermarks, 2FA, screenshot deterrence, link expiry, audit logs; page-level analytics to prioritize follow-ups; custom branding/domains.
- Bottom line: Looks institutional, feels modern, and doesn't punish you for running multiple rooms (fundraise + BD + board).
2) DocSend (Dropbox) — Best for lightweight investor updates
- Pricing: Advanced Data Rooms $300/month (includes 3 users).
- Great for: teaser packs, simple data rooms.
- Watch-outs: deeper diligence features live on higher tiers, and costs ramp as you scale room count or controls—something third-party breakdowns echo.
Alternative: If DocSend's pricing doesn't fit your budget, check out our best DocSend alternatives for more cost-effective options.
3) SecureDocs (Onit) — Best flat-fee for a single heavy project
- Pricing: from $250/month, unlimited users and storage; free trial.
- Great for: one major deal where predictability matters more than analytics depth.
- Watch-outs: lighter engagement analytics vs. newer, investor-focused tools. (Aggregators report similar tiers.)
4) Digify — Best budget starter
- Pricing: Pro $480/month (1 user, 3 rooms); Team $480/month (3 users, 10 rooms).
- Great for: early-stage teams testing the waters.
- Watch-outs: room/user caps create upgrade pressure as the round heats up.
For startups: If you're just getting started, our best data rooms for startups guide has more budget-friendly options.
5) CapLinked — SMB-friendly, published plan
- Pricing: public Team plan around $399/month; trial available.
- Great for: teams that want a listed, mid-market plan without a quote.
- Watch-outs: higher absolute cost vs. startup-centric per-user platforms. (Pricing references visible on provider/aggregator pages.)
6) Ansarada — Usage-based; unlimited guests
- Pricing posture: pay by storage/usage (examples like $399 for 250MB referenced publicly); invite-based billing model.
- Great for: lots of external viewers where seat limits are a pain.
- Watch-outs: storage-based quotes can climb fast if you upload video or large diligence packs.
7) iDeals — Enterprise workflows & classic Q&A
- Pricing: sales-quoted; free trial exists.
- Great for: multi-party, global diligence where archives/Q&A are essential.
- Watch-outs: tier gates + learning curve noted in category write-ups.
8) Firmex — Bank-friendly with 24/7 support
- Pricing: subscription/quote; emphasizes unlimited projects/users on subs.
- Great for: regulated deals (banking, energy, healthcare).
- Watch-outs: heavier admin + opaque pricing for lean startup use.
9) DealRoom — M&A suite (VDR + workflows)
- Pricing posture: flat-rate per deal volume; unlimited users; diligence tiers commonly cited around $1,000+/month.
- Great for: banker-style processes, requests lists, PMI.
- Watch-outs: overkill for standard startup fundraising.
10) Datasite — Premium M&A
- Pricing: custom/enterprise.
- Great for: top-tier transactions with white-glove support.
- Watch-outs: not runway-friendly for most startups; reviewers frequently flag cost. (G2 category pages capture this sentiment.)
Enterprise focus: For M&A and enterprise deals, check out our M&A data room guide and enterprise data room software comparison.
Comparison at a glance (startup lens)
| Provider | Public 2025 price signal | Rooms / Users | Speed levers | Best fit |
|---|---|---|---|---|
| Peony | $40/user/mo | Unlimited rooms & storage | Branded links, AI setup, per-viewer watermarks, 2FA, screenshot deterrence, page analytics | Startups running multiple rooms (fundraise, LP, BD). |
| DocSend | $300/mo | Per plan | Friendly sharing, auto indexing | Lightweight investor updates. |
| SecureDocs | from $250/mo | Unlimited users/docs | Predictable flat fee | One big project; OK with lighter analytics. |
| Digify | $480/mo | 3–10 rooms | Watermarking, revocation | Budget start; scale later. |
| Firmex | Quote/subscription | Unlimited (subs) | Bank-grade workflows, support | Regulated deals. |
| iDeals | Quote | Tiered | Granular perms, Q&A, archives | Enterprise diligence. |
| DealRoom | ~$1,000+/mo (diligence) | Unlimited users | VDR + project management | Banker-style M&A. |
| Datasite | Custom | Custom | Concierge M&A | Premium/late-stage. |
Want crowd sentiment too? G2's VDR pages summarize user-reported pros/cons (common flags: price and slow performance on some legacy tools). Useful sanity check.
Industry insights: For more context on data room trends, read TechCrunch's coverage of virtual data rooms and Forbes' analysis of startup fundraising tools.
24-Hour Startup Play (copy/paste this)
- Hour 1 — Spine: drag-drop your folders → auto-index; toggle NDA gate, 2FA, downloads off for first pass. (Peony docs show this exact flow.)
- Hour 2 — Deterrence: enable dynamic watermarks + screenshot deterrence; set link expiry; brand the room/domain.
- Hour 3 — Follow-up IQ: check page-level analytics; prioritize callbacks by time-on-page and repeat visits. (Category guides highlight analytics as a key differentiator.)
Quick setup: Follow our data room folder structure guide for optimal organization and due diligence checklist to ensure nothing is missed.
Why Peony is the clear winner for startups
- Runway-safe TCO: $40/user/month with unlimited rooms and all security/analytics included—no per-project upsells, no storage surprises.
- Investor-proof on first click: per-viewer watermarks, 2FA, screenshot deterrence, expiry, audit logs—deterrence your counsel can see.
- Founder-calibrated UX: branded links, AI-assisted structure, page analytics that turn curiosity into action; built for fundraising and LP updates, not just storage.
Bottom line
If you’re searching for best startup data room 2025, you’re really asking: what gets me to “yes” faster without nuking runway? That’s Peony. Turn it on, share one branded link, watch who actually reads, and close the next meeting with certainty. You’re doing great—this choice keeps you moving.