Peony is a virtual data room. You upload sensitive documents, set access rules, and share a secure link. Viewers read files in-browser under whatever protections you configure — NDA gate, watermark, screenshot protection, email verification. You see exactly who opened what, for how long, on which page.

If you have used Dropbox or Google Drive for sharing, Peony solves the problems those tools were never built for: per-viewer tracking, legal gates, watermarking, access revocation, and AI search across hundreds of documents.

What a Data Room Is

A controlled place for the documents a counterparty needs to review — a pitch deck, financials, diligence files, client deliverables. Instead of emailing attachments (you cannot revoke, track, or protect), you share a link. The room enforces whatever rules you set.

The same room can be shared with multiple counterparties through different links. Each link has its own rules, watermark, expiry, and analytics.

Who Peony Is For

Deal teams in the $1M–$500M range: founders raising a round, M&A advisors running a sell-side deal, independent sponsors, CRE brokers, consultants, PE and VC firms hosting investor updates.

Not a fit for: deals that mandate SOC 2 Type II today (Peony is SOC 2-ready, with the audit underway) and air-gapped enterprise deployments.

The Five Words to Know

Workspace
Data room
Link
Visitor

Term	What it is
Workspace	Your account. Holds data rooms, team, billing, branding. One company, one workspace.
Data room	A container for one deal or project. One workspace, many rooms.
Link	A shareable URL pointing to a data room, with its own permissions. One link per counterparty = per-viewer analytics.
Visitor (viewer)	The counterparty who opens your link. Free and unlimited on every plan. No Peony account required.
Admin	Someone on your team who manages data rooms. Counts toward admin pricing. See Admins vs Viewers.

See Workspaces, Data Rooms, Links, and Visitors for more.

What Peony Does

AI auto-indexingIndexes your documents in the background so the whole room is searchable.
AI Q&A with citationsNatural-language questions with page-number citations.
Dynamic watermarksEvery page overlaid with viewer email and IP at view time. A screenshot carries the viewer's identity.
Screenshot protectionBlocks desktop captures, with honest limits on mobile.
NDA gatesViewer agrees to or signs your NDA before any files load.
Page-level analyticsWhich pages each viewer read, in what order, for how long.
Custom brandingYour logo, cover image, brand card and theme, so counterparties see your identity, not Peony's.
Custom domainsHost at docs.yourcompany.com Data Room+
E-signaturesBuilt-in, with AI field detection. Signed copies live in the Signatures view.

What Peony Is Not

Not a file storage tool. Use Dropbox or Google Drive for sync-and-share.
Not for $2B cross-border M&A. That needs Datasite or Intralinks. Peony covers 90% of what most deal teams actually use, at a fraction of the cost.

Files Stay on Peony's Servers

When you "share" a data room, files are never sent to the recipient. They stay on Peony's US-hosted storage. Viewers read documents in an in-browser viewer. Unless you allow downloads, nothing leaves Peony's infrastructure.

See How File Storage Works for details.

Next Steps

Quick Startcreate a room, upload files and share a secure link in five minutes
Workspaces, Data Rooms, Links, and Visitorsthe four core objects and how they relate
Admins vs Viewerswho pays and who doesn't
Access Control Layersthe protections you can stack on a link, and their limits