A virtual data room or VDR is a web-based solution particularly created for the storing and sharing of confidential data. VDRs provide specific sets of options like advanced permissions, tracking features, Q&A tool, as well as multiple-factor authentication and watermarking.
Though virtual data rooms are historically utilized for financial transactions, IPOs, and fundraising, their use cases are increasing. Any business involved with the secure and specialized management of its data can opt for VDRs.
Today, data room providers are progressively building machine learning technology into their software system, thereby enlarging their supply to incorporate tools to use their data room platform for file-synchronization, internal repositories, or secure communication with investors.