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Funding Guides Published: 
Feb 17, 2021
Updated: Oct 03, 2022
2 min read

Deal Data Room: Securely share documents with investors

When you do a funding round, as well as sharing the Term Sheet, Shareholders Agreement and new company Articles with investors, you’ll need to be ready for investor due diligence.

With Deal Data Room, you can securely share your confidential documents with investors, all on the same platform with your legal documents for the investment.

Due diligence is an essential and unavoidable part of fundraising. The only time due diligence might not happen is if the investors are your friends and family, for example if you do a Bootstrap Round. People close to you might decide to skip due diligence because they know you and your business so well already.

Get ready for investor due diligence

Before your investors sign any agreement with you or part with their cash, they’ll need to do their due diligence on your company.

VC investors will have an extensive checklist for their due diligence covering many aspects of your business from tax, finance and legal to your IT, sales and marketing systems and statistics.

The documents investors will ask to see include:

Sure, you could upload them all to a Google Drive and share with the investors there, but it’s a pain, they need to have their own separate Google logins, nobody remembers where to find the documents later, you can’t remember who you shared which documents with, and so on.
There must be a better way…

 

The SeedLegals solution: Deal Data Room

Founders and investors told us they want to see and keep everything in one place, not just for one funding round, but for future rounds. And investors, to keep the documents organised and accessible across their portfolio.

So, in keeping with our goal of SeedLegals being the one-stop destination to grow your business, members have access to Deal Data Room, which integrates beautifully with your funding round on SeedLegals.

There are plenty of online services offering digital data rooms, costing from £20 a month to hundreds of pounds a year. But there’s no extra charge for SeedLegals members to use the Deal Data Room. We think it’s such a fundamentally important service that it’s included for all members with Standard or Plus.

 

How to use Deal Data Room

Go to Raise and click on into your open funding round, then click the Documents tab.

You’ll see all the documents you’ve created on SeedLegals for your round at the top and underneath that, your Data Room where you can upload your own documents: 👇

Seedlegals Data Room Screenshot
You'll find the Data Room in the Documents tab for your funding round

How to use groups

We created Groups to make it easy to share sets of documents with dynamic and custom groups. In your funding round, click the Groups tab to view and manage your groups.

Dynamic groups include All investors – this group contains all the investors you’ve added to your round.

Adding a new investor? All documents in that sharing group are automatically shared with them. Investor pulls out? Just remove them from the round, and their sharing permissions are automatically removed.

Or go ahead to create your own custom groups, for example:

  • Lead investors and their lawyers
  • ‘Maybe’ and ‘Confirmed’ investors

Whatever works for you.

Seedlegals Data Room Groups Screenshot
Did you know SeedLegals members also get a Pitch Data Room? Read more about how to share confidential docs with investors you’re pitching to: SeedLegals Pitch

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