About this site

What the site covers

The site looks at one job: opening a virtual data room for a raise and running it until the money is in. That job looks different for a Series A, a first-time venture fund, a multifamily syndication and a refinancing, so the pages are organized by raise type.

• Rankings and reviews. Sixteen data rooms scored on five criteria that matter in a raise: investor tracking, permission control, raise workflow, investor onboarding and the cost of a raise. The criteria and formulas are on the scoring approach page.
• Use cases. Pages for each kind of raise, from a pre-seed round to a continuation fund or a project finance deal, with a suggested folder index, the features that matter and the steps to set up.
• Tools. A raise checklist by raise type, calculators for dilution, fund fees, carry, IRR, DSCR and timelines, a pricing calculator and a glossary.
• Guides. Long articles on the documents and stages of a raise.

Who writes it

The pages are written and checked by the Fundraising Data Rooms editors. We write from vendor documentation, published prices, security attestations listed by vendors and our research file on each product. We do not claim hands-on tests we have not run; where a check is worth doing, we give it to you as a trial checklist.

How pages stay current

Provider facts are rechecked on a monthly cycle and when a vendor changes its pricing or features. Legal figures, such as Regulation Crowdfunding or Regulation A limits, are labelled with the year they apply to; check the current figure before you rely on it. If you see something out of date, write to the editors.

How the site is funded

Some links on the site earn us a commission. The affiliate relationships page explains how that works and what it does not change. The scoring code runs the same way for every provider.

What the site is not

This is not legal, tax or investment advice. Securities law decides who you may offer to and how; talk to counsel before you open a room to investors.