What is a deal room?
A deal room is a secure online space set up for a single transaction, where the parties to a fundraise, sale or acquisition share confidential documents and run due diligence under controlled access.
A deal room is a virtual data room framed around one specific deal. Where a general data room might hold standing material, a deal room exists for the life of a transaction: it opens when the process starts, holds exactly the documents that transaction needs, and closes or is archived once the deal completes or dies.
The people in a deal room usually have competing interests - a seller and several bidders, or a founder and multiple investors - so segmented access matters. Each party should see only what it is entitled to see, and the seller should be able to tell, at any moment, who has looked at what.
Deal room and virtual data room are often used interchangeably. The distinction is one of framing: a deal room is the data room in its transaction context, with the access model, index and permissions shaped by the deal rather than by day-to-day operations.
In 99 Data Rooms
How it works here.
In 99 Data Rooms a deal room is a room you spin up for a transaction: organise the documents, invite each party with links gated by verified email, passcode or NDA acceptance, and watch page-by-page engagement to see which bidder is serious. When a party exits, one-click revocation cuts their access immediately, and the room stays UK-hosted and encrypted at rest throughout.
Common questions
Deal room, in short.
Is a deal room the same as a virtual data room?
In practice yes - a deal room is a virtual data room organised around a single transaction. The controls are the same: per-viewer gating, tracking, watermarking and revocation.
Can different bidders be kept separate in a deal room?
Yes. You share separate links per party, gate each one, and track them independently, so each side sees only what you intend and you can tell who engaged with what.
Related terms
What is a virtual data room?
A virtual data room (VDR) is a secure online space for sharing sensitive business documents with outside parties, where every viewer is controlled and every view is tracked.
DefinitionWhat is due diligence?
Due diligence is the structured investigation a buyer, investor or lender runs before a deal, checking a company's finances, contracts, legal standing and risks against what has been claimed.
DefinitionWhat is granular access control?
Granular access control is the ability to set precisely who can see or do what, document by document and person by person, rather than granting all-or-nothing access to a whole folder.
Try it on a real document. Turn a PDF into a tracked, revocable link in a couple of minutes. Three rooms stay free for as long as you want them, no card required.