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ShareFile Announces Virtual Data Room Solution

ShareFile Announces the Release of a Virtual Data Room Solution for Businesses.

ShareFile, a provider of online secure large file transfer and storage solutions for business customers, announces the release of a virtual data room solution.


A virtual data room is an Internet portal that allows documents to be posted online in an organized and secure manner. Authorized users around the world are able to access the documents in a secure and auditable manner using a virtual data room. Unlike standard file sharing applications, a virtual data room offers many unique features that are attractive to businesses engaging in specific activities such as M&A, venture capital, distressed real estate transactions, legal transactions, and pharmaceutical / biotech.

The virtual data room product offering features the same secure data protection and ease of use as the standard ShareFile file transfer offering, but adds a number of key features specifically tailored to meet the needs of those in need of a data room solution. The "view only" feature is an essential element in a true virtual data room solution. Keeping confidential data from being changed or downloaded is an important element of any business transaction and therefore documents uploaded using ShareFile's data room solution can be automatically watermarked with the viewers' email address, name, and IP address for added security.

ShareFile's CEO, Jesse Lipson said: "We developed our virtual data room solution organically based on feedback from customers in the financial and healthcare industry who were using our core product as an ad hoc data room. We studied the virtual data room / virtual deal room market and saw a terrific opportunity, particularly in the small and mid-market space. Our customers have indicated that using the ShareFile virtual data room has enabled deals to close faster and for a higher acquisition price."

ShareFile virtual data room clients are also able to provide secure access to an unlimited number of users and can create an unlimited number of data rooms for one flat monthly rate. Account administrators can receive view, upload and download notifications allowing tracking for each individual document or file via email or by generating activity reports in the system.