Dynamic watermarks burn viewer identity (email, IP, timestamp) into every rendered page of a document. When a viewer opens a protected link, Peony overlays their identity on each page at view time. Because it's rendered server-side — not layered with JavaScript — it can't be removed with browser devtools.

What Dynamic Watermarks Do

Every viewer sees a different watermark tied to their identity. Because Peony renders it, the watermark:

Can't be hidden with disabled JavaScript
Can't be removed via devtools
Can't be cropped out of a screenshot without cropping the content too
Appears on every page, not just the first

Unlike static watermarks (which sit in the file and can be cropped or edited out), dynamic watermarks tie a specific view to a specific viewer.

When Watermarks Help

Use them when accountability matters more than prevention:

Fundraising. Sending a deck to 30 investors — a per-investor watermark makes any leak traceable.
M&A diligence. Financial statements, customer lists, and cap tables going to multiple bidders. Attribution on every page.
Board materials. Pre-read decks with sensitive numbers going to board members and advisors.
Any multi-party share where you need to know who had access.

For fundraising, use one link per investor so each viewer gets a uniquely watermarked view. See Quick Start.

When Watermarks DON'T Help

Screenshots still capture the watermark. That's the point. Dynamic watermarks are an attribution layer, not a capture-prevention layer. Combine with Screenshot Protection on desktop browsers to block the capture itself.

A hostile viewer can still retype or photograph content. Watermarks are legal evidence and deterrent, not prevention. For truly sensitive materials, combine watermarks with disabled downloads, screenshot protection, and an NDA gate.

Customization Options

Watermarks are configured in a Preview and customize dialog with three groups of controls: Data (what text appears), Appearance (how it looks), and — for supported links — a Footer line.

Data (what appears):

The watermark text field accepts free-typed text plus clickable tokens. Add any combination:

Name — the viewer's name (requires viewer info or approved-email access)
Email — the viewer's email (requires viewer info or approved-email access)
Date
Time
IP address

Each token sits on its own line by default, so the rendered watermark is naturally multi-line. To split text across lines, put each piece on its own line in the field — see the multi-line note in Common Questions.

Appearance (how it looks): all of these are independent controls, not positions.

Tiled — a checkbox. When on, the watermark repeats in a grid across the whole page (hardest to crop out) and the Position control is disabled. Turning Tiled on sets Rotation to 45 deg if rotation was still None (any rotation you already chose is kept); turning it off resets rotation to None.
Position — where a single (non-tiled) watermark sits: Top (default), Left, Right, Bottom, or Center. Disabled while Tiled is on.
Rotation — None, 45 deg, 90 deg, 180 deg, or Custom (type any degree value).
Text size — Small, Medium, Large, or Custom (px).
Text color — pick from the preset palette.
Opacity — 25%, 50%, 75%, 100%, or Custom.

Tiled with moderate opacity is the strongest setup for most fundraising and M&A shares.

Setup Steps

In a data room

Open the data room, go to the Permissions tab, and open the group you want to protect.
In the group's Security control section, click the Dynamic watermark card.

The Watermark dialog opens. Under Data, click a token chip to insert it — the chips read {{name}}, {{email}}, {{date}}, {{time}}, and {{ip-address}} — or type any custom text.
Click Preview and customize to open the Customize watermark dialog, which exposes the full Data and Appearance controls.
Under Appearance, set Tiled, Position, Rotation, Text size, Text color, and Opacity, then click Save to return to the Watermark dialog.

Click Save.

On a standard (non-room) link

Open the link's settings and turn on the Dynamic watermark row.
Click Preview and customize to open the same Data / Appearance controls.
Adjust the watermark and save.

Test by opening the link in an incognito window with a different email — you should see that identity burned into every page.

Layering with Other Controls

Watermarks alone — attribution. Use for low-risk shares.
Watermarks + disabled downloads — strongest protection for viewers using standard tools.
Watermarks + screenshot protection — blocks desktop capture; any capture that gets through still carries identity.
Watermarks + NDA gate — adds a signed legal layer on top of technical attribution.

For a fundraising deck: email verification on, watermark on, downloads off. For live M&A: add NDA gate and screenshot protection.

Pricing

Dynamic watermarks require the Data Room plan ($52/admin/month) or above. The Free and Business plans do not include any dynamic-watermark support — the Dynamic watermark card and link row show an upgrade badge on those plans.

Free — no dynamic watermark
Business ($30/admin/month) — no dynamic watermark
Data Room ($52/admin/month) — full dynamic watermarking: all Data tokens, tiling, position, rotation, size, color, and opacity
Deal Team ($64/admin/month, min 4 admins) and Enterprise — includes everything in Data Room

A 7-day Data Room trial lets you test watermarking before you buy.

Common Questions

Can I put the watermark on two lines — for example, email on one line and the date on the next?

Yes. In the watermark Data field, put each piece on its own line — the rendered watermark can be several lines (four or more is common). Note that the field commits line breaks you enter directly; a literal \n typed as text will not create a new line.

Do I need a separate copy of the document for each reviewer?

No. A dynamic watermark adapts to each viewer automatically — the same document and link stamp each reviewer's own info (and IP) on their view. One link watermarks per-viewer.

I picked a position but the watermark stays centered. Why?

Position control works on PDFs, videos, and images, but not on Word .docx files. Peony renders .docx through Microsoft's viewer, which forces a centered watermark. Convert the file to PDF and the position you choose will apply.

Do watermarks stop screenshots?

No — a screenshot still captures the watermark, which is the point. Watermarks are an attribution and deterrent layer, not capture prevention. On desktop, pair them with Screenshot Protection. Mobile capture has inherent limits (someone can always photograph a screen with a second device), so a dynamic watermark is the strongest deterrent there. For the highest bar, combine a watermark with an NDA gate.

On the Roadmap

A unique per-document content ID (an 8-digit code for leak tracing) is available to accounts with three or more seats on an annual plan — contact Peony if you need it.

Dynamic Watermarks: Setup and Limits