State of M&A Data Rooms — Q3 2026 Read the report →

Q&A

Private bidder Q&A (question teams) in Peony's virtual data room

Question teams have been in Peony's virtual data room since September 10, 2026, on the Data Room plan and above: each investor or bidder gets its own team, so no team sees another team's questions. Answers to process-wide questions can be published to every team at once.

Plans
Data Room, Deal Team and Enterprise
For
M&A advisors, Investment banks, Private equity

What does it do?

The question team is the privacy boundary in visitor Q&A.

  • Same question team: members see each other's questions, so a buyer's deal lead, lawyers and accountants work from one list.
  • Different question teams: no visibility across teams. Investor A never learns what Investor B asked.

Who is it for?

Sell-side advisors running competitive processes with several bidders in one data room.

How does it work?

  1. In Configure Q&A, open the Users step.
  2. Click Add question team for each investor or bidder and assign members, such as the visitor groups set up under Permissions.
  3. Assign the answer side: coordinators, experts and approvers.

The answer side sees every question with its question team and can filter by team. Answers can be published to every team at once without revealing which team asked.

Which plans include it?

Visitor Q&A is on Data Room and above; the advanced workflow is on Deal Team and Enterprise. See pricing.

How does it compare?

Keeping bidders' questions separate is a requirement in competitive M&A processes and a standard feature of M&A data rooms. Peony also lets the deal team publish a shared answer once.

Where can I learn more?

Common questions

Can one bidder see another bidder's questions in Peony?

No, if they are in different question teams. Members of one question team see only that team's questions; the deal team sees every question with the team it came from.

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