Before the advent of virtual datarooms, when a company was sold or capital raised, the enterprise which acquired the company would ask the seller for historical and financial documents. This information was kept in a secure place where stakeholders could examine the documentation. Today, these information rooms have been replaced by virtual data rooms that make it much easier to share and examine documents.
When you’re preparing to open your data room, it’s important to consider what you need to include and who you will be sharing access with. Based on the stage your startup is, certain documents are more important than others. Investors may be more interested in specific cost and revenue projections when your startup has a proven experience.
Once you’ve decided on what to include in the file arrange it and upload it. Create a folder system that is suitable for your company and use consistent naming practices to make it easy to find documents. You can also add metadata to give the files more context. Separate related files into subfolders to make it easier for users to find the information they’re looking for.
If you’re using the Pro version you can assign access to users after having uploaded all documents. You can choose individual documents and select appropriate access groups, or click’Add another group(s)’ to add a new group.