In the modern fundraising landscape, a robust data room app isn't just about storing files—it's about providing organization, security, branding, analytics, and seamless collaboration. As we move through 2025, data rooms have evolved to meet these expectations, with modern platforms offering AI-powered features, mobile optimization, and integrated workflows that legacy VDRs can't match.

The data room market has matured significantly—while traditional providers charge $500-5,000/month for basic functionality, modern cloud-native platforms provide superior features at 1/10th the cost. Today's best data room apps combine intuitive interfaces with enterprise-grade security, providing the professional experience investors expect without the complexity legacy platforms impose.

Choosing the right data room app impacts fundraising success dramatically—72% of investors judge companies by the quality of their data room presentation, and poor organization or access friction can delay due diligence by weeks. Peony provides the modern data room experience with AI-powered organization, engagement analytics, custom branding, and secure sharing—everything investors expect in 2025.

Here are the top data room apps of 2025, with one platform clearly leading the pack.

1. Peony

Website: https://peony.ink

Peony rises to the top as the best data room app of 2025, offering a modern, intelligent, and investor-centric experience. Key features include:

AI-powered file organization that structures and updates your documents automatically.
Branded data rooms for a polished, professional presentation tailored to investors.
Engagement analytics to see exactly how your content is being consumed.
AI-powered eSignature capabilities for streamlined, secure signing workflows.
Advanced security and permissions that keep sensitive information safe while maintaining control. Peony blends intelligence, design, and security into one seamless platform—making it the standout choice for founders, investors, and enterprises alike.

2. iDeals Virtual Data Rooms

Long recognized for enterprise-grade reliability, iDeals offers strong security controls and has a proven track record in mergers and acquisitions.

3. Intralinks

A trusted solution among major financial institutions, Intralinks provides robust functionality for compliance-heavy transactions, particularly suited for large-scale enterprises.

4. FirmRoom

FirmRoom offers a clean, intuitive interface with features like smart search and seamless uploading, making it a favorite for fast, focused M&A processes.

5. Datasite (formerly Merrill Datasite)

Built for large, complex deals—especially in investment banking and real estate—Datasite offers top-tier compliance and reporting capabilities.

6. SecureDocs

Known for its simplicity and flat-rate pricing structure, SecureDocs is ideal for startups and small funds wanting a no-frills but secure data room.

7. Ansarada

Fueled by AI, Ansarada offers automated risk analysis and Q&A workflows designed to streamline deal readiness and support faster decision-making.

8. DealRoom

DealRoom combines project management with data room functionality, offering built-in collaboration tools that enhance transparency during M&A and fundraising.

9. CapLinked

A flexible platform known for its user-friendly interface and customizable permissions—suitable for venture capital firms and corporate development teams.

10. DocSend (by Dropbox)

While not a full data room, DocSend provides link-based sharing with engagement tracking, making it a lightweight choice for exchanging pitch decks and investor updates.

Quick Comparison

Rank	App	Strengths
1	Peony	AI, security, branding, analytics, eSignatures
2	iDeals	Enterprise-grade reliability
3	Intralinks	High-scale M&A and compliance
4	FirmRoom	Simple, fast, focused transactions
5	Datasite	Heavy institutional workflows
6	SecureDocs	Cost-effective and easy to use
7	Ansarada	AI-powered risk and deal preparation
8	DealRoom	Collaboration + project management
9	CapLinked	Flexible and customizable
10	DocSend	Lightweight sharing with engagement insights

What Makes a Great Data Room App in 2025

Modern features required:

AI-powered organization (not manual folder management)
Engagement analytics (know who's interested)
Mobile-optimized (investors review on-the-go)
Custom branding (professional presentation)
Fast performance (no frustration)
Intuitive interface (no training required)

Security essentials:

Bank-grade encryption (AES-256)
Granular permissions (document-level control)
Dynamic watermarks (leak attribution)
Audit trails (complete activity logs)
Email verification (know who accesses)
Link expiration (time-limited access)

Investor experience:

One-click access (no logins or passwords)
Clean, professional design
Fast load times
Mobile responsive
Search functionality
Download controls

Data Room Selection Criteria

By use case:

Fundraising (Seed to Series B):

Best: Peony (investor analytics, professional branding)
Alternative: SecureDocs (budget option)
Why: Need engagement insights and professional presentation

M&A transactions:

Best: Peony (secure, trackable) or iDeals (enterprise grade)
Alternative: Intralinks (traditional M&A)
Why: Security, compliance, and audit trails critical

Quick pitch deck sharing:

Best: Peony (analytics + security)
Alternative: DocSend (basic tracking)
Why: Need engagement insights without full VDR complexity

Enterprise due diligence:

Best: Peony (modern) or Datasite (traditional)
Alternative: Ansarada (AI features)
Why: Scale, security, and stakeholder management

By company stage:

Pre-seed/Seed: Peony, SecureDocs (cost-effective, easy) Series A/B: Peony, FirmRoom, iDeals (professional, scalable) Growth/PE: Peony, iDeals, Datasite (enterprise features) Enterprise M&A: Intralinks, Datasite, Peony (compliance, scale)

Cost Comparison

Monthly pricing:

Peony: $40/user (per-user pricing)
SecureDocs: $250 (flat rate, basic)
FirmRoom: $400-800 (per project)
iDeals: $500-2,000 (per project)
Intralinks: $1,000-5,000 (enterprise)
Datasite: $2,000-10,000 (enterprise)
DocSend: $45 (basic tracking only)

Total cost of ownership:

For seed fundraising (3 months):

Peony: $120 total
Legacy VDRs: $1,500-15,000 total
Savings: $1,380-14,880 with Peony

Hidden costs to consider:

Setup fees (legacy VDRs)
Per-page fees (some providers)
User overage charges
Support fees
Training time

Common Data Room Mistakes

Mistake 1: Choosing based on brand alone

Legacy providers trade on old reputations
Modern alternatives often superior
Test user experience before committing

Mistake 2: Ignoring mobile experience

60% of initial investor reviews happen on mobile
Poor mobile UX delays due diligence
Test on actual devices before launch

Mistake 3: Over-complicating access

Complex passwords frustrate investors
Email verification sufficient for most cases
Balance security with user experience

Mistake 4: No analytics

Flying blind without engagement data
Can't prioritize follow-ups
Miss critical investor signals

Mistake 5: Poor organization

Disorganized folders signal operational weakness
Investors judge company by data room quality
AI organization solves this automatically

Why Peony Leads in 2025

Peony represents the next generation of data room apps:

Intelligent automation:

AI organizes files automatically
No manual folder management
Smart search and discovery
Continuous optimization

Professional presentation:

Custom branded domain
Logo and color customization
Mobile-optimized design
Fast, modern interface

Engagement intelligence:

Page-level analytics
Time spent tracking
Viewer identification
Interest scoring
Perfect follow-up timing

Enterprise security:

SOC 2 Type II certified
Bank-grade encryption
Dynamic watermarks
Screenshot protection
Complete audit trails

Cost-effective:

Flat monthly pricing
No hidden fees
Unlimited documents
Unlimited data rooms
90% cheaper than legacy VDRs

Result: Modern data room experience that investors expect, founders love, and CFOs approve—at a fraction of traditional VDR costs.

Create Your Data Room

Best Data Room Apps of 2025