Virtual Data Room (VDR)

A virtual data room (VDR) is a secure online platform for sharing confidential documents in a structured, audit-controlled environment. VDRs are used in mergers and acquisitions, fundraising, due diligence, IPO preparation, real estate transactions, and other workflows where multiple parties need controlled access to sensitive documents.

Modern VDRs combine granular per-bidder permissions, dynamic watermarking, structured Q&A workflows, and tamper-evident audit logs. European VDRs additionally satisfy GDPR (typically through EU data hosting and a written Article 28 data processing agreement).

See What is a Virtual Data Room? and the provider list.

Last updated: May 2026.