Understanding Digify data rooms: pricing, limits & alternatives

Need a secure data room without the premium price?

You're raising a funding round or going through M&A. Investors want access to financials, legal docs, and customer data. You need something more secure than email or basic file sharing.

Traditional virtual data rooms charge $500-2,000+ per month with per-user fees that spiral fast. Digify markets itself as the affordable alternative. But "affordable" is relative when you're bootstrapped or just starting to raise.

This guide breaks down what Digify actually costs, how it works, where it falls short, and whether you're better off with something simpler. No fluff, just the facts you need to decide.

What is Digify data room?

Data rooms explained

A virtual data room is a secure online space for sharing sensitive documents during fundraising, M&A, audits, or legal processes. Think organized folder structure with granular permissions, activity tracking, and security features like NDAs and watermarks.

Traditional data rooms were physical rooms where buyers reviewed documents during acquisitions. Digital versions let you share hundreds of files with dozens of people while controlling exactly who sees what. You track every view, download, and time spent on each document.

Digify data room key features

Digify launched in 2013 as a document security platform focused on tracking and protecting files. The data room feature came later as they moved upmarket from individual document protection to full due diligence workflows.

Their core offering combines secure file sharing with analytics. You upload documents, organize them into folders, invite users by email, and set permissions at the document or folder level. Each user gets a branded portal where they access only what you've granted.

Key features include:

• Document-level permissions and expiry dates
• Page-by-page analytics showing time spent
• Watermarking with recipient email or IP address
• NDA enforcement before document access
• Q&A module for investor questions
• Screen capture blocking (desktop only)
• Bulk upload and folder management

Who uses it:

• Startups raising seed through Series B rounds
• Small companies in acquisition processes
• Legal teams sharing case materials with clients
• Finance teams during audits or investor due diligence
• Real estate firms managing property documentation

Digify positions itself between basic file sharing tools and enterprise VDRs like Intralinks or Datasite. You get more security and control than Dropbox, less complexity and cost than traditional data room providers.

Digify data room vs regular Digify

Digify offers two ways to share documents: standard link sharing and data rooms. Here's how they differ and when each makes sense.

Comparison table

When to use regular Digify

You're sharing one or two documents with someone. Examples: sending your pitch deck to an investor for initial review, sharing an NDA with a contractor, distributing a proposal to a potential client. You want basic protection and tracking but don't need elaborate folder structures.

Setup takes minutes. Upload file, generate link, add password, send. Recipient opens link, enters password, views document. You see basic analytics: who viewed, when, for how long.

When to use Digify data room

You're sharing 20-200 documents with multiple stakeholders who need different access levels. Examples: investor due diligence during fundraising, buyer review during M&A, audit preparation with external accountants, legal discovery with opposing counsel.

You need organization, granular control, and detailed tracking. Some users see everything, others see only specific folders. You update documents and everyone with access sees current versions. You track engagement to prioritize follow-ups.

The key difference

Regular Digify protects individual documents. Data rooms organize and control access to entire document collections. If someone asks for "the data room," they expect the organized folder approach, not scattered individual links.

Setting up a Digify data room

Here's what actually goes into creating a data room from scratch.

Step-by-step process

1. Create the data room Log into Digify, click "Create Data Room," name it (usually company name + round/process). Set branding: logo, colors, custom domain if you have Business plan. Takes 5 minutes.

2. Build folder structure This takes the longest. Standard structure for fundraising:

• Company Overview
• Financials
• Legal
• Product/Technology
• Team
• Customers/Pipeline
• Miscellaneous

You create nested subfolders. Under Financials: Historical Statements, Projections, Cap Table, Board Materials. Under Legal: Incorporation Docs, Contracts, IP, Compliance. Takes 15-30 minutes to organize properly.

3. Upload documents Digify supports bulk upload via drag-and-drop. Upload all PDFs, spreadsheets, presentations. Name files clearly: "2024-Q3-Financial-Statement.pdf" not "FS_final_v3.pdf". If you have 50-100 documents, upload takes 20-60 minutes depending on file sizes and your internet speed.

4. Set permissions Here's where it gets tedious. For each folder or document, you choose:

• Who can access (specific users or groups)
• Can they download or only view
• Expiry date if relevant
• Watermark settings

If you have 5 investor groups with different access needs, you're setting permissions on 20+ folders individually. Takes 30-60 minutes.

5. Invite users Add recipients by email. Assign them to permission groups. Customize welcome message. Require NDA acceptance if needed. Set up two-factor authentication requirements. Takes 10-15 minutes for first batch, faster for subsequent invites.

6. Test access Log out, test the recipient experience. Make sure permissions work correctly, documents open properly, branding looks right. Fix issues. Takes 15-30 minutes.

Total setup time: 2-4 hours for a well-organized data room with 50-100 documents and proper permissions.

Ongoing maintenance

You don't just set it up once. As diligence progresses:

• Upload new documents (board approved updated financials, new customer contracts)
• Answer questions in Q&A module
• Adjust permissions as new investors get access
• Review analytics to see who's engaged
• Remove access for investors who pass

Budget 30-60 minutes per week during active fundraising or M&A.

Digify data room pricing

Data room access isn't available on all Digify plans. Here's what it actually costs.

Plan availability

Digify structures pricing around user seats and document limits, not just data room access.

Which plans include data rooms

Prices as of 2026 for annual billing. Monthly billing costs ~20% more.

Detailed pricing breakdown

Team - $149/month

Your entry point for data rooms. Includes 3 user seats. Fine for small seed rounds where you're talking to 5-10 investors and only a few need simultaneous access.

What you get:

• Unlimited data rooms
• Unlimited documents
• 10GB storage
• Page-by-page analytics
• NDA templates
• Email support
• Basic branding (logo, colors)

Limitations:

• Only 3 team members can manage the data room
• Additional users cost $40/month each
• 10GB fills up fast with financial models and pitch materials
• No custom domain
• No dedicated support

Business - $299/month

Sweet spot for Series A/B companies. 10 user seats means your team (founders, CFO, counsel) can all access and manage without constant seat shuffling.

Additional benefits:

• 50GB storage
• Custom domain (dataroom.yourcompany.com)
• Advanced analytics and reporting
• Priority email support
• Dynamic watermarking
• Fence view (prevents screenshots on Windows)

Better for larger rounds where you're managing 15-30 investors and need room for your advisors to help organize materials.

Enterprise - Custom pricing

For late-stage rounds or complex M&A. Starts around $500-1,000/month based on user count and storage needs.

Adds:

• Unlimited users
• Unlimited storage
• Dedicated account manager
• Custom integrations
• Advanced security features
• Phone support
• SLA guarantees
• Training sessions

Most startups don't need this unless you're in a competitive M&A process with multiple buyers doing parallel diligence.

Hidden costs to consider

Beyond base subscription:

Setup and training: Digify doesn't charge for onboarding, but you'll spend 4-8 hours of founder/team time getting organized. If you hire a consultant to structure your data room professionally, that's $1,000-3,000.

User scaling: Each user beyond your plan limit costs $40/month on Team plan, less on Business. If you're on Team plan (3 users) but need 8 people managing diligence (founders, CFO, counsel, advisor), you're paying $149 + $200 = $349/month. Just upgrade to Business at that point.

Feature add-ons: Most features are bundled, but some advanced integrations or custom development require Enterprise plan.

Storage overages: Team plan includes 10GB. If you exceed, you either upgrade to Business ($299) or potentially pay overage fees. A typical Series A data room with 3 years of financials, legal docs, and product materials easily hits 8-15GB.

Real cost examples

Startup raising Series A (5 users)

Team plan ($149) + 2 extra users ($80) = $229/month for basic data room.

Or just get Business plan at $299/month for 10 users and avoid nickel-and-diming.

For 3-month fundraising process: $687-897 total.

Company in M&A process (15 users)

Business plan ($299) + 5 extra users ($150-200 depending on negotiation) = $450-500/month.

Or Enterprise with negotiated rate around $600-800/month with unlimited users and better support.

For 6-month M&A process: $3,600-4,800 total.

Cost comparison with competitors

Digify sits in the middle. Cheaper than traditional VDRs, more expensive than simple sharing tools, with per-user pricing that adds up.

Use cases for data rooms

Here's when you actually need a data room versus when you're overthinking it.

1. Fundraising - seed to Series B

The scenario: You're raising capital and sharing sensitive financials, customer data, and legal documents with 10-20 potential investors. Each investor asks for slightly different materials. Some need full financial access, others want product roadmap only. Conversations happen in parallel, some move fast while others stall.

Why a data room helps:

• Centralize everything so you're not emailing PDFs constantly
• Grant tiered access based on investor stage (initial interest vs. term sheet stage)
• Track which investors actually review materials vs. just say they did
• Update documents once when numbers change, everyone sees current version
• Look professional and organized, which matters for credibility

What you'd include:

• Pitch deck and executive summary
• Three years of financial statements and 3-year projections
• Cap table showing current ownership and option pool
• Customer contracts (anonymized) and pipeline data
• Product roadmap and technology documentation
• Team bios, organizational chart, compensation structure
• Legal documents: incorporation, IP assignments, material contracts
• Board minutes and investor updates from past rounds

Example workflow: Create data room with clean folder structure. Send initial access to warm leads who've seen your pitch - they get Overview and high-level financials only. As conversations progress and you get to partner meetings, expand access to detailed financials and customer data. After term sheet, open everything for full diligence. Track engagement to identify serious investors vs. tire-kickers.

Digify features that matter:

• User-level permissions so seed investors don't see Series B projections
• Page-by-page analytics to see if they actually read the financial model
• NDA enforcement before granting any access
• Q&A module for investor questions with tracked responses
• Quick updates when board approves new projections mid-raise

2. M&A - sell-side due diligence

The scenario: Your company is being acquired or you're exploring acquisition offers. Buyer's team needs to verify everything: financials, contracts, employees, IP, liabilities. They'll spend weeks combing through documents. Multiple buyers might be involved in parallel if it's competitive.

Why a data room helps:

• One central location for all diligence materials
• Control what each buyer sees if running competitive process
• Track buyer engagement to gauge serious interest
• Maintain clean audit trail of who accessed what
• Revoke access immediately if deal falls through
• Handle sensitive employee or customer info carefully

What you'd include:

• Audited financials for past 3-5 years
• All customer contracts, terms, and revenue data
• Employee agreements, compensation, benefits, option grants
• IP documentation: patents, trademarks, licenses, assignments
• Real estate leases, equipment leases, material vendor contracts
• Insurance policies, legal disputes, regulatory filings
• Technical documentation, codebase access (limited)
• Environmental or compliance reports if applicable

Example workflow: Buyer signs NDA and gets initial access to high-level materials. After LOI, open detailed folders for deep diligence by their team (finance, legal, technical, HR). Create separate sections for management presentations and Q&A responses. Track which documents they review most - flags potential concerns early. Close access if buyer backs out, preserve confidentiality.

Digify features that matter:

• Folder-level permissions for buyer team specialization (their CFO sees financials, CTO sees technical docs)
• Watermarking with buyer company name to prevent leaks
• Screen capture blocking to protect sensitive data
• Detailed audit logs for legal compliance
• Q&A module to address buyer questions formally

3. Board reporting and governance

The scenario: You share quarterly board materials, financial updates, and strategic documents with board members and observers. Some board members want historical access to review past decisions. Observers get limited access compared to voting members.

Why a data room helps:

• Historical archive of all board materials in one place
• Different access for directors vs. observers vs. advisors
• Secure distribution of sensitive compensation or M&A discussions
• Easy to add materials before meetings and share post-meeting
• Board members can reference old materials without emailing you

What you'd include:

• Quarterly board decks and financial packages
• Annual budgets and strategic plans
• Board minutes and resolutions
• Committee materials (audit, compensation)
• Management updates between meetings
• Cap table and option grant documentation

Example workflow: Create ongoing data room with folder per quarter/year. Before each board meeting, upload materials to relevant folder. Give board members full access, observers limited access (no compensation or sensitive M&A folders). After meeting, add approved minutes and resolutions. Board can access historical materials anytime without requesting from you.

Digify features that matter:

• Long-term access without expiry (unlike fundraising data rooms)
• User groups for directors vs. observers vs. advisors
• Document versioning to track updates to projections
• Secure archive that meets governance requirements

4. Legal due diligence and litigation

The scenario: You're in a legal dispute, responding to discovery requests, or undergoing regulatory investigation. Opposing counsel, regulators, or auditors need access to specific documents. You need to produce materials in organized, defensible way.

Why a data room helps:

• Organized production of discovery materials
• Track exactly which documents were provided and when
• Watermark documents to identify source of leaks
• Revoke access after settlement or case closure
• Meet legal requirements for secure document handling

What you'd include:

• Relevant contracts and correspondence
• Financial records related to dispute
• Internal communications (emails, memos)
• Product documentation if IP dispute
• HR records if employment case
• Regulatory filings and compliance documentation

Example workflow: Outside counsel reviews documents, uploads relevant materials to data room with proper organization. Grant opposing counsel access after protective order in place. Track their review activity. Respond to supplemental document requests by adding to appropriate folders. Maintain detailed access logs for court reporting.

Digify features that matter:

• Detailed audit trail for legal compliance
• Watermarking to track document sources
• User access controls meeting court requirements
• Document-level permissions for privilege issues
• Download blocking for sensitive materials

5. Investor reporting and LP communications

The scenario: You're a fund manager reporting to limited partners, or a company providing ongoing updates to existing investors. Regular quarterly or annual reporting with financial updates, portfolio developments, and strategic changes.

Why a data room helps:

• Ongoing investor access to materials without repeated emails
• Different access for different investor classes
• Historical archive of all investor communications
• Professional presentation of portfolio performance
• Secure handling of portfolio company confidential info

What you'd include:

• Quarterly investor letters and reports
• Portfolio company updates and financials
• Fund performance data and valuations
• Annual audited financials
• K-1 tax documents
• Meeting presentations and minutes

Example workflow: Set up data room with folders for each quarter/year. Upload materials after close of each period. Investors log in to access latest reports and historical materials. Different folders for different share classes with appropriate access. Track engagement to see which investors actively monitor vs. passive.

Digify features that matter:

• Long-term persistent access
• Automated notifications when new materials posted
• User groups for different investor types
• Professional branded portal
• Analytics to see investor engagement

6. Partnership and vendor evaluation

The scenario: You're evaluating strategic partnerships, vendor relationships, or distribution agreements that require sharing confidential business information, pricing, technical specs, or customer data.

Why a data room helps:

• Control information flow during negotiation
• Share technical documentation securely
• Track partner interest and engagement
• Revoke access if partnership doesn't proceed
• Maintain confidentiality of pricing and terms

What you'd include:

• Technical specifications and API documentation
• Pricing models and commercial terms
• Customer case studies and testimonials
• Integration requirements and timelines
• Compliance and security certifications
• Product roadmap (limited)

Example workflow: Partner signs NDA, gets initial access to high-level capabilities. As discussions progress, open technical documentation for their engineering team. Share pricing models after initial alignment on approach. Track which materials they review most to understand priorities. Close access if partnership doesn't proceed.

Digify features that matter:

• Time-limited access during negotiation period
• Document-level permissions for sensitive pricing
• Analytics to gauge partner seriousness
• Watermarking for leak prevention

7. Employee onboarding for sensitive roles

The scenario: You're hiring executives, board members, or employees who need access to confidential information during offer evaluation or onboarding before start date.

Why a data room helps:

• Share confidential materials with finalists
• Let them review company state before accepting offer
• Provide onboarding materials securely
• Revoke access if they decline offer
• Track what they review during evaluation

What you'd include:

• Detailed company financials and metrics
• Strategic plans and challenges
• Board materials and governance docs
• Team structure and key personnel
• Product roadmap and technical strategy
• Customer data and pipeline

Example workflow: Final candidates for exec role sign NDA and get limited access to company overview and financials to evaluate opportunity. After offer acceptance, expand access to full onboarding materials and historical context. Track their review to identify areas needing discussion before start date.

Digify features that matter:

• Time-limited access during evaluation
• Quick revocation if offer declined
• Analytics to understand their preparation
• Professional presentation

8. Audit preparation and compliance

The scenario: You're preparing for annual audit, SOC 2 examination, ISO certification, or regulatory compliance review. Auditors need organized access to policies, procedures, evidence, and financial records.

Why a data room helps:

• Organized presentation of audit evidence
• Auditor access without overwhelming email chains
• Track auditor review progress
• Supplement materials as audit progresses
• Meet compliance requirements for secure access

What you'd include:

• Financial statements and supporting schedules
• Internal controls documentation
• Security policies and procedures
• Compliance evidence and testing results
• Vendor contracts and SOC 2 reports
• HR policies and employee verification
• Access logs and security monitoring data

Example workflow: Set up data room organized by audit areas (financial, security, HR, etc.). Auditors get access at kickoff. They review materials, submit document requests via Q&A module. You upload supplemental evidence to appropriate folders. They track their progress, you track their focus areas. Close access after report issuance.

Digify features that matter:

• Organized folder structure meeting audit standards
• Q&A module for auditor requests
• Document versioning for policy updates
• Audit trail for compliance reporting
• Secure access meeting regulatory requirements

Digify data room limitations

Digify works well for straightforward fundraising or M&A, but it's not perfect. Here's where it falls short.

1. Per-user pricing gets expensive fast

Team plan includes 3 users for $149/month. Sounds fine until you realize you need 6-8 people with access: co-founders, CFO, legal counsel, advisor helping with fundraising. Each additional user is $40/month. You're suddenly at $350/month, and Business plan at $299 is cheaper but requires annual commitment.

Per-user pricing doesn't make sense for temporary needs. If you're raising for 3 months and need 8 users during that period, you're stuck paying for user seats you won't use after the round closes.

2. Storage limits are restrictive

Team plan caps at 10GB. Series A data room with 3 years of financials, customer contracts, product docs, and board materials easily hits 12-18GB. You either delete documents (defeats the purpose), upgrade to Business ($299), or pay overages.

10GB sounds like a lot until you have detailed financial models, customer presentations, technical documentation with images, and product demo videos. One high-res product demo video can be 500MB-1GB alone.

3. Analytics are good but not great

Page-by-page tracking is useful. You see which investor spent 45 minutes on your financial model versus 2 minutes skimming the executive summary. But you don't get heat maps showing exactly which sections they focused on or skipped. You can't see if they actually read the footnotes in your projections.

DocSend and Ellty provide more granular slide-by-slide or section-by-section analytics that actually help you understand investor concerns. Digify tells you "they viewed page 12" but not whether they read it carefully or scrolled right past.

4. Mobile experience is weak

Investors increasingly review materials on phones and tablets. Digify's mobile web experience works but isn't optimized. No native mobile app. Documents render okay but navigation through folder structures on small screens is clunky.

If an investor is traveling and wants to review your data room on their phone, they'll be frustrated. Competitors like Carta and Capshare have better mobile experiences for investor access.

5. Limited customization on lower tiers

Team plan lets you add logo and colors. That's it. No custom domain, no white-labeling, basic branding only. If you want dataroom.yourcompany.com instead of yourcompany.digify.com, you need Business plan.

For Series A and later, custom domains matter for professionalism. Sending investors to a generic Digify URL looks less credible than your own branded domain.

6. No built-in e-signature

Digify doesn't include e-signature capabilities. If you need investors to sign NDAs or side letters, you're using DocuSign or HelloSign separately. Then you're paying for two tools and managing separate workflows.

DocSend integrates with native e-signature. You can require NDA signature before data room access in one flow. With Digify, you're emailing NDAs separately, then granting access manually after signature.

7. Collaboration features are basic

Q&A module lets investors ask questions and you respond. That's it. No threaded discussions, no tagging team members, no workflow for routing questions to the right person. If your CFO should answer financial questions and CTO should handle technical questions, you're manually coordinating offline.

Larger data room providers include task management, workflow routing, and proper collaboration tools. Digify assumes small teams that communicate externally.

8. Security features are mid-tier

Digify has password protection, watermarking, NDA requirements, and fence view (screen capture blocking on Windows only). That's solid for most fundraising.

But no device-level encryption, no DRM, fence view doesn't work on Mac or mobile, watermarking can be defeated by photographing screen. If you're in healthcare, defense, or other highly regulated industries, Digify's security won't meet compliance requirements.

True enterprise VDRs offer forensic watermarking, granular access policies, device fingerprinting, and stronger DRM. Digify is "pretty secure" not "maximum security."

9. Support is email-only on lower plans

Team plan gets email support. No phone, no live chat, no dedicated account manager. If you're in the middle of closing a funding round and the data room breaks, you're waiting hours or a day for email response.

Business plan gets priority email support (faster response, not necessarily better). Enterprise gets phone support and account manager. For mission-critical M&A or late-stage fundraising, email-only support is a risk.

10. Migration and export are manual

When your fundraising round closes, you want to export everything for your records. Digify lets you download files, but you're manually recreating folder structure and permissions documentation.

No automated export to Google Drive, Dropbox, or Box. No export of analytics data for your CRM. You're manually downloading folders and organizing locally.

11. Integration ecosystem is limited

Digify integrates with basic tools like Gmail and Outlook for notifications. No Salesforce integration, no CRM sync, no single sign-on with common providers (Google Workspace, Microsoft 365, Okta) on lower tiers.

If you want investor activity in Digify to automatically create tasks in your CRM or sync with your investor pipeline, you're building custom integrations or doing manual data entry.

12. Overkill for simple needs

If you're just sharing pitch deck with 10 investors for initial interest, Digify data room is overcomplicated. You don't need folder hierarchies and granular permissions. You need simple link sharing with view tracking.

Digify's regular document sharing feature or tools like DocSend, Docsend, or Ellty make more sense for early-stage, pre-diligence document sharing. Data rooms are for when you have 50+ documents and complex permission needs.

The honest assessment: Digify works well for Series A/B fundraising or small M&A with straightforward needs. It struggles with very large document sets, complex permissions, high security requirements, or situations needing deep integrations. Per-user pricing model penalizes companies with larger teams or temporary access needs.

Alternatives to Digify data room

Digify isn't your only option. Here are legitimate alternatives depending on your needs.

Ellty - secure document sharing without per-user fees

What it offers: Ellty started as a pitch deck sharing and analytics platform, then added security features like screenshot protection for founders raising capital. Focus is simplicity and affordable flat-rate pricing instead of per-user fees.

Key features:

• Unlimited users on all paid plans (no per-seat charges)
• Upload pitch decks and supporting documents
• Create secure pitch decks with folder organization
• Page-by-page analytics showing view time and engagement
• Real-time notifications when investors view materials
• Password protection and email verification
• Custom branding with your logo and colors
• NDA requirements before access
• Track individual viewer behavior
• Fast setup in 30 minutes vs hours

Pricing:

• Free: Basic link sharing, limited analytics, 5 documents
• Starter: $29/month - unlimited documents, basic analytics
• Professional: $79/month - advanced analytics, unlimited decks, priority support
• Business: $149/month - custom branding, API access, dedicated support

All paid plans include unlimited team members and investor access. No hidden per-user fees.

Best for:

• Seed to Series A fundraising
• Founders who need pitch analytics alongside confidential sharing
• Teams wanting simple setup without IT involvement
• Companies avoiding per-user pricing models
• Straightforward due diligence without complex workflows

Compared to Digify:

When to choose Ellty:

• You're raising seed or Series A and need affordable solution quickly
• Per-user pricing doesn't work for your team size
• You want pitch deck analytics alongside confidential document sharing
• Simple fundraising process without complex compliance needs
• Prefer straightforward tools over feature-rich complexity
• Want to set up and launch in one afternoon

When Digify makes more sense:

• You need advanced security features like fence view
• Complex M&A process with detailed audit requirements
• Established company with IT team managing data room
• Multiple parallel processes requiring separate instances
• Regulatory compliance needs requiring specific certifications

DocSend - document sharing with basic data rooms

What it offers: DocSend started as secure document sharing with detailed analytics. Added basic data room functionality as customers asked for organized multi-document sharing. Now owned by Dropbox.

Key features:

• Link-based document sharing with granular analytics
• Spaces (their term for data rooms) with folder organization
• One-page email capture before viewing
• Document version control
• Built-in NDA signing via DocuSign integration
• Detailed engagement analytics per viewer
• Downloadable analytics reports

Pricing:

• Personal: $50/month (1 user) - 100 documents, basic analytics
• Standard: $165/month (3 users) - unlimited documents, spaces, advanced analytics
• Advanced: $300/month (unlimited users) - custom branding, advanced features

Best for: Individual fundraising where one person manages investor pipeline, early-stage document sharing transitioning to organized data rooms, teams already using Dropbox wanting integration.

Limitations: Pricey for basic features. Standard plan at $165/month for 3 users costs more than Digify Team plan. Analytics are excellent for pitch decks but spaces feature feels bolted-on. Limited folder depth compared to true data rooms.

Carta - equity management with data rooms

What it offers: Carta is primarily cap table and equity management software. Added data room features for fundraising since they already manage your equity data. Tight integration with cap table makes it powerful for fundraising.

Key features:

• Data room automatically populated with cap table data
• Investor access directly from Carta platform
• Electronic signature for investment documents
• Waterfall analysis sharing
• Automatic updates when cap table changes
• SAFEs and equity rounds managed in same platform

Pricing: Starts around $2,000-3,000/year for basic cap table management, data room included at higher tiers or as add-on.

Best for: Companies already using Carta for cap table who want integrated data room, late-stage companies with complex equity structures, situations where cap table is central to diligence.

Limitations: Expensive if you're only using it for data room. Cap table management is the primary product, data room is secondary feature. Overkill for early-stage companies with simple cap tables.

Firmex - mid-market virtual data room

What it offers: Traditional virtual data room provider focused on M&A and complex transactions. More robust than Digify, less expensive than enterprise solutions like Intralinks.

Key features:

• Flat-rate pricing (not per-user)
• Unlimited users and documents
• Advanced security with DRM
• Dedicated project manager
• 24/7 support
• Customizable workflows
• Detailed audit trails

Pricing: Starts around $500-1,000/month for basic projects, scales to $2,000-5,000/month for large transactions.

Best for: M&A transactions requiring robust security, complex due diligence with many stakeholders, regulated industries with compliance requirements, situations where 24/7 support matters.

Limitations: Expensive for straightforward fundraising. Complexity that most startups don't need. Setup requires more time and often vendor assistance.

Dropbox Business - simple folder sharing

What it offers: Not a purpose-built data room but many companies use Dropbox Business folders as makeshift data rooms. Familiar interface, good collaboration, basic security.

Key features:

• Shared folders with permissions
• File commenting and collaboration
• Version history
• Basic analytics on file views
• Familiar to most users
• Integrates with tools you already use

Pricing: Business: $15/user/month for 5TB shared storage and advanced features.

Best for: Very early-stage companies, informal due diligence processes, teams already heavily using Dropbox, situations where simple folder access is sufficient.

Limitations: No real data room features. Limited analytics, no NDAs, no watermarking, no granular permissions. Anyone with folder access can download everything. Not suitable for sensitive due diligence or M&A. Investors expect more professional presentation.

Google Drive - free option with limitations

What it offers: Basic shared folder approach. Free or cheap, everyone has Google account, simple permissions.

Key features:

• Shared folders and files
• Basic permissions (view, comment, edit)
• Version history
• Familiar interface
• Already included with Google Workspace

Pricing: Free for personal use (15GB), Google Workspace starts at $6/user/month.

Best for: Very early bootstrapped startups, friends and family rounds, situations where you literally have zero budget, internal document organization before formal data room.

Limitations: No analytics. No NDA enforcement. No watermarking. Unprofessional for serious fundraising. Investors can download and share freely. No audit trail. If investor forwards link to someone else, you have no control.

Quick comparison table

Choosing the right alternative

Go with Ellty if: Per-user pricing bothers you and your team size fluctuates. You want pitch deck analytics integrated with security features. You need simple setup fast. Budget is $25-100/month range. Seed to Series A stage.

Go with DocSend if: You're primarily sharing individual documents (pitch deck, executive summary) and occasionally need organized spaces. You want best-in-class analytics. DocuSign integration matters for NDAs.

Go with Carta if: You already pay for Carta cap table management. Your fundraising is tightly integrated with equity management. You want automated cap table data in due diligence.

Go with Firmex if: You're in M&A process requiring enterprise security. Budget is $500-2,000/month. You need dedicated support and project management. Compliance requirements are strict.

Go with Dropbox/Google if: You're pre-seed or friends and family stage. Budget is severely constrained. Investors are friendly and informal process is acceptable. You're organizing documents before formal data room.

Stick with Digify if: You need more than simple sharing but less than enterprise VDR. Series A/B fundraising with standard requirements. Team size is 3-10 users. Budget is $150-500/month. You want established provider with decent feature set.

The honest take: Most seed-stage founders overthink data rooms. Simple pitch deck sharing and tracking with analytics (Ellty, DocSend) works fine until you're actually in diligence with term sheet. Series A and beyond benefit from real data rooms. Choose based on your actual transaction complexity and budget, not what you think you're "supposed" to use.

Is Digify data room right for you?

Data rooms aren't one-size-fits-all. Here's how to decide if Digify makes sense.

Choose Digify data room if:

• You're raising Series A or B with 10-30 investors in pipeline
• You have 50-200 documents that need organized presentation
• Your team is 3-10 people who need data room management access
• You want more than basic file sharing but less than enterprise VDR
• Budget is $150-500/month for 3-6 month fundraising process
• You need standard security (watermarks, NDAs, permissions) but not maximum security
• You're comfortable with 2-4 hour setup time
• Email support is acceptable during diligence process
• You're in straightforward industry without complex compliance requirements
• You want established provider with track record

Look at alternatives if:

• You're seed stage sharing pitch deck with early investors (try Ellty or DocSend instead)
• Per-user pricing doesn't work because your team size fluctuates or is large
• You need setup in 30 minutes, not hours (Ellty is faster)
• Budget is under $100/month (Ellty Professional is cheaper)
• You're in complex M&A requiring 24/7 support and dedicated project manager (try Firmex)
• You need deep integration with cap table or CRM systems
• Mobile access for investors is critical
• You want sophisticated analytics showing exactly which sections investors focus on
• You already pay for Carta and want integrated data room
• You need e-signature built into workflow
• Security requirements demand DRM and forensic watermarking
• You have hundreds of stakeholders and need enterprise-grade infrastructure

Decision framework

Ask yourself:

About your use case:

• How many documents am I sharing? (Under 20 = simple sharing tools, 20-200 = data room, 200+ = enterprise VDR)
• How many people need access to manage? (1-3 = most tools work, 4-10 = watch per-user costs, 10+ = flat-rate makes sense)
• How long will this process run? (1-2 months = consider cheaper options, 3-6 months = justify better tooling, 6+ months = need robust solution)
• How sensitive is the data? (Pitch materials = basic security, financial/legal = strong security, regulated industry = maximum security)

About your team:

• Do we have time for 4-hour setup? (Yes = fine, No = choose simpler tool)
• Will team size change during process? (Stable = per-user okay, fluctuates = flat-rate better)
• Do we need mobile access? (Not critical = any tool works, essential = check mobile experience)
• Can we handle email-only support? (Yes = save money, No = pay for better support)

About your budget:

• What's total budget for this process? (Under $500 total = simple tools, $500-2,000 = mid-tier like Digify, $2,000+ = consider enterprise)
• Are we paying monthly or annual? (Monthly = flexibility but higher cost, annual = savings but commitment)
• Do we need this after current process? (One-time = minimize cost, ongoing = invest properly)

About timing:

• When do we need it live? (This week = choose fastest setup, next month = can take time to set up properly)
• What happens if it breaks mid-process? (Disaster = pay for support, manageable = email support fine)

Honest recommendation

For typical Series A fundraising with 10-20 investors, 50-100 documents, 3-6 month timeline, and $200-400/month budget, Digify works well. It's not the cheapest, not the fanciest, but it gets the job done without major gaps.

If budget is tight or team is small, Ellty at $79/month gives you 90% of what you need for seed through Series A with simpler setup and no per-user fees. If you're in complex M&A or have security requirements, jump to Firmex or enterprise solutions. If you're just sharing pitch deck with early investors, don't overthink it - DocSend or even Dropbox is fine.

The biggest mistake is picking tools based on what "serious companies use" instead of your actual needs. A $29/month tool that you set up in 30 minutes often beats a $500/month tool that takes 8 hours to configure when you're raising a seed round. Choose based on transaction complexity and your team's capacity, not prestige.

Frequently asked questions

Does Digify work for seed-stage fundraising?

Yes, but it's probably overkill. Seed rounds typically involve 5-15 investors and limited due diligence. You're mostly sharing pitch deck, basic financials, and maybe cap table. Digify's Team plan at $149/month works but you're paying for features you won't use.

Consider simpler tools like Ellty ($29-79/month) or DocSend for seed stage. Save Digify for Series A when you have 50+ documents and complex permission needs. If investors specifically ask for "data room access," then set one up. Otherwise, secure link sharing with analytics is sufficient for seed.

Can I use Digify for M&A transactions?

Yes, for small to mid-sized M&A. Companies under $50M valuation or straightforward acquisitions work fine. Digify handles document organization, permissions, tracking, and Q&A adequately.

For larger or complex M&A (multiple buyers, regulated industries, cross-border deals), consider enterprise VDRs like Firmex, Intralinks, or Merrill DatasiteOne. They offer 24/7 support, dedicated project managers, advanced security, and robust audit trails that M&A processes demand. Digify's email-only support and mid-tier security features become limitations in complex transactions.

How long does it take to set up a Digify data room?

2-4 hours for functional data room with 50-100 documents. Breakdown: 30 minutes creating structure and uploading documents, 1-2 hours organizing and setting permissions, 30 minutes inviting users and testing.

If you're meticulous about organization or have complex permission requirements, add another 1-2 hours. First-time users take longer than experienced ones. Having documents pre-organized in local folders before upload saves significant time.

Ongoing maintenance during fundraising or M&A is 30-60 minutes per week updating documents and responding to questions.

What's included in Digify Team plan vs Business plan?

Team plan ($149/month):

• 3 user seats (additional users $40/month each)
• Unlimited data rooms and documents
• 10GB storage
• Standard security features
• Email support
• Basic branding (logo, colors)

Business plan ($299/month):

• 10 user seats (additional users negotiable)
• Unlimited data rooms and documents
• 50GB storage
• All Team features plus:
• Custom domain (dataroom.yourcompany.com)
• Advanced analytics and reporting
• Priority email support
• Dynamic watermarking
• Fence view (screenshot blocking on Windows)

Main differences: user seats, storage, custom domain, and priority support. If you need more than 4 users, Business plan is better value than paying per-user on Team plan.

Does Digify have a free trial?

Yes, 7-day free trial on all paid plans. No credit card required to start trial. Full access to features during trial period so you can test with real documents.

Trial is long enough to set up data room, invite test users, and evaluate if it meets your needs. Be aware 7 days is short if you're trying to get investor feedback during trial - they won't review materials that quickly.

Can investors download documents from Digify?

Depends on permissions you set. For each document or folder, you control:

• View only (can't download)
• View and download

Most fundraising data rooms allow viewing but restrict downloads on sensitive materials like customer contracts or detailed financials. Investors can view in browser but can't save local copies. This prevents broad sharing of confidential materials.

For less sensitive documents like pitch deck or executive summary, downloads are typically allowed. You track who downloaded what and when.

Note: View-only doesn't prevent someone photographing their screen or using screen capture tools (fence view blocks screenshots on Windows only, doesn't work on Mac or mobile).

How secure is Digify for sensitive documents?

Reasonably secure for most fundraising and business transactions. Features include:

• 256-bit SSL encryption in transit
• Password protection
• Email verification for access
• Watermarking with recipient info
• NDA requirements
• Access expiry dates
• Fence view blocking screenshots (Windows only)
• Detailed audit logs

Not suitable for:

• Highly regulated industries (healthcare PHI, defense classified materials)
• Maximum security requirements
• Situations needing forensic-level watermarking
• Device-level encryption requirements

If you're in healthcare, finance, defense, or similar regulated industries, ask your legal counsel if Digify meets compliance requirements. You might need enterprise VDRs with SOC 2 Type II, ISO 27001, and industry-specific certifications.

Can I track which investors actually review materials?

Yes, this is Digify's strength. Analytics show:

• Who accessed the data room and when
• Which documents each person viewed
• How long they spent on each document
• Which pages they viewed (page-by-page tracking)
• Whether they downloaded documents
• Login frequency and access patterns

You can't see exact reading behavior (did they actually read or just scroll quickly), but time-on-page is decent proxy for engagement.

Use this to prioritize follow-ups. Investor who spent 45 minutes reviewing financials is more serious than one who viewed exec summary for 90 seconds.

What happens to the data room after fundraising closes?

Data room remains accessible as long as you maintain subscription. When fundraising closes, you have several options:

1. Keep it active for ongoing investor reporting (convert to investor portal)
2. Revoke all investor access and use as internal archive
3. Download all documents and analytics for your records
4. Cancel subscription (data is deleted after account closure)

Most companies revoke investor access after deal closes but keep data room as organized archive of what was shared during diligence. Useful for future reference or audits.

If canceling subscription, download everything first. Digify doesn't provide permanent archive after cancellation.

Does Digify integrate with CRM or other tools?

Limited integrations compared to enterprise platforms. Available:

• Email platforms (Gmail, Outlook) for notifications
• Google Drive and Dropbox for document import
• Zapier for basic workflow automation
• Single sign-on (SSO) on Enterprise plan only

No native integrations with:

• Salesforce or CRM systems
• DocuSign or e-signature platforms
• Cap table management (Carta, Pulley)
• Project management tools
• Analytics platforms

If integrations are critical, consider alternatives with better ecosystems or be prepared to build custom integrations via API (Enterprise plan required for API access).

Can I customize the data room branding?

Depends on plan:

Team plan: Basic branding only - upload logo, choose colors. URL is yourcompany.digify.com.

Business plan: Everything in Team plus custom domain (dataroom.yourcompany.com). Still shows Digify branding in some places.

Enterprise plan: Full white-labeling available. Remove all Digify branding, use completely custom domain and styling.

For professional fundraising, custom domain matters. Investors take dataroom.yourcompany.com more seriously than yourcompany.digify.com. Budget for Business plan if branding is important.

How does Digify compare to DocSend?

Both are document sharing with data room features but different approaches:

Pricing: DocSend starts at $50/month (1 user), $165/month for Standard (3 users) Digify starts at $149/month for Team plan (3 users) Digify is cheaper for 3+ users

Analytics: DocSend has better detailed analytics with visual engagement reports Digify has solid page-tracking but less granular insights

E-signature: DocSend integrates with DocuSign natively Digify requires separate e-signature tool

Data room depth: Digify has more robust folder structures and permissions DocSend's Spaces feature feels simpler/lighter

Best for: DocSend - individual document sharing, pitch decks, proposals Digify - organized multi-document data rooms, fundraising, due diligence

If you're primarily sharing pitch decks and want tracking, choose DocSend. If you're organizing 50+ documents for due diligence, choose Digify.

Best practices for Digify data rooms

Document preparation

Before uploading:

• Remove metadata from files
• Use clear naming conventions
• Organize in logical folders
• Create an index document
• Redact sensitive information not needed for the deal

User management

• Create user groups (buyers, lawyers, advisors)
• Set different permissions per group
• Use meaningful user names
• Regularly review access logs
• Remove users when deal stages complete

Q&A management

Digify includes Q&A functionality:

• Assign questions to subject matter experts
• Track response times
• Maintain question logs
• Export Q&A for records

Tips for success

Start early - Set up your room before you need it. Adding documents under pressure leads to mistakes.

Test permissions - Create a test user account to verify settings work as intended.

Communicate clearly - Send users instructions on how to access and navigate the room.

Monitor actively - Check activity daily during active deals. Respond to questions quickly.

Archive properly - Download activity reports before closing the room.

Digify data rooms work well for standard due diligence and document sharing scenarios. The platform balances security features with usability, though it lacks some advanced features of enterprise VDR providers.

For most M&A deals under $50M and typical fundraising rounds, Digify provides sufficient functionality. Larger or more complex deals might require platforms with more sophisticated features.