Virtual Data Room for Startups
All startups operate with the intent to either generate enough revenue to be self-sufficient or find an investor willing to invest in your ambition and vision. However, investors don’t just fork over the cash to whomever makes an appealing presentation. They also need to look at a lot of details. While some startups might get lucky with the first investor, they also don’t want to risk exposing their proprietary products/services to just anyone. For this, you need a virtual data room for startups.
Up and coming businesses cannot afford to invest in expensive solutions to accomplish what Folderit can at a much lower price point. When early stage funding rounds begin, you will need Virtual Data Room for Startups to protect both yourself and your investors’ interest and you will need to share your files with them. Ask yourself…
Are these files important?
If you are dealing with confidential documents that represent significant work, or intellectual property, you will need a way to exercise some kind of control on these files. Sharing files via email puts you at the recipient’s discretion. Folderit’s Virtual Data Room for Startups is designed to keep your important files in your control.
Folderit is secured by triple backed-up, 256-bit bank level encryption and only transfers using SSL encryption. It also features support for your organization’s password implementation policy. This keeps unauthorized access away from your content.
Folderit also allows you to manage which users get how much access while keeping an audit-trail to keep track of file access, this way, there are no surprises. You can configure your Virtual Data Room for Startups to give certain users preview-only access to avoid any risk of unauthorized duplication, copying or modification. Additionally, you can configure your files such that only a single user may work on it at a time, locking out others to prevent any conflicts. Access expiration can be automated so the system cuts out their access to data when you set it.
Folderit also maintains a versioning system that keeps track of all the changes a document goes through (such as contracts). This way you can revert to an older file version anytime you want and update as frequently as you need without losing content.
Are we handling a lot of files?
In a typical process involving due diligence, you might be working on tens, maybe hundreds, even thousands of files and folders. Folderit’s VDR for Startups lets you deal with as complex a file/folder structure as you need.
Even if your files aren’t sensitive, managing a few hundred files can be cumbersome to handle and track over multiple disconnected platforms. With Folderit you can store your documents in any folder structure as it is always accessible (to authorized users). Using Folderit’s advanced search capabilities, you can sift through huge volumes of content. Folderit lets you add metadata to your documents, you can even add custom metadata for further classification. Folderit can also search through read-only content such as images, scans, PDFs, etc. using OCR for complete access. This way, you avoid frustrations for both yourself and any investors or partners by keeping the platform ubiquitous for all imaginable use-cases.
Do I need VDR for Startups to handle multiple stakeholders?
One could theoretically manage multiple stakeholders through a series of emails, ancillary tools for file management and integrate each stakeholder’s feedback/input separately, but that’s a disaster waiting to happen. Even the cheapest solutions that integrates all these eventualities in one VDR will cost around $500/month while the average market price is nearly $2000. That is a fortune in overhead costs, especially for early stage startups! With Folderit you can have everything you need for due diligence, and VDR for Startups in a neatly tied, affordable package.
Folderit elevates a complicated email, cloud, manual tracking-based mechanism, which is a stopgap solution at best, to grant you access to:
- User-level/user group permissions with automated access expiration
- Approvals workflow (in serial or parallel)
- Roles and Sub-Accounts for unlimited hierarchy
- Automatic retention
- Notifications and audit trails
- Accessible anywhere with web-access
Folderit’s virtual data room solution allows you to access, organize, search, and catalog your documents in a structure that best suits your startup’s needs. This creates an easy-to-access environment for clients, investors and stakeholders while granting you complete control over your documents.
You can try Folderit VDR for your startup completely free! Register here.