Do I need a virtual data room for a seed round?

Not an enterprise one. A shared link with your deck, model and cap table, gated by email, covers what seed and Series A investors ask for.

Is a Google Drive folder good enough?

It works, but investors may be asked to sign in or request access, you can't see who opened what, and anyone with access can download everything. A room keeps the files in a viewer and shows you each investor's reading.

Can investors download the documents?

Only if you allow it. Downloads are off by default.

Can I add a document later?

Yes. Add it to the room or replace a file, and the room link stays the same.

Data rooms

A simple data room for your raise

By Ramy Khuffash · Last updated 21 October 2026

What is a data room for startups?

A data room is one secure link to the documents investors need for due diligence: deck, financial model, cap table, incorporation documents and key contracts. Investors enter their email to get in, and you see which fund opened which document and for how long, so you know who is doing real diligence.

Try it now. No sign up required.

How to set up a data room in Linkjar

1Upload the documents (PDF, Word, Excel and PowerPoint files are converted to a viewer that works in any browser).
2Create a room, add the documents in a sensible order, and write a short note at the top.
3Turn on the email gate, keep downloads off, and set an expiry date for when the round closes.
4Send each investor the room link. Their activity appears under their email for every document they open.

Data room options, compared

	Linkjar room	Shared Drive or Dropbox folder	Founder data room tools (DocSend, Papermark)	Enterprise virtual data rooms
Investors open it without an account	✓	Often asks	✓	Usually needs an invite
See which investor read which document	✓	–	✓	✓
Email gate and allowed domains	✓	–	✓	✓
Expiry date and turn off downloads	✓	Limited	✓	✓
Dynamic watermark with the viewer's email	✓	–	Higher plans	✓
NDA to accept before viewing	–	–	Higher plans	✓
Q&A, permissions per folder, audit exports for M&A	–	–	Some	✓
Price	From $15/mo (Pro)	Included with storage	Per user or per room	Priced per project

What to put in a seed or Series A data room

Keep it to what investors actually check. A typical list:

Pitch deck and a one-page company summary
Financial model and the last 12 to 24 months of monthly figures
Cap table, including options and convertible notes or SAFEs
Incorporation documents and board minutes
Key customer contracts and a customer list or pipeline summary
Team: founders' backgrounds, org chart, key employment and IP assignment agreements
Product: roadmap, metrics dashboard, and any security or compliance documents

Start with the deck and summary, add the deeper documents once an investor is in diligence.

Know who is doing real diligence

Every document in the room records who opened it, when, and how long they spent on each page. An investor who has opened the financial model three times and read the cap table is further along than one who skimmed the deck. Get an alert when it happens, and follow up while the interest is fresh.

Keep confidential documents under control

Turn on the email gate and, if you like, accept only the funds' domains. Keep downloads off so the files stay in the viewer. Add a dynamic watermark so every page carries the viewer's email, which discourages screenshots and forwarding. Set an expiry date for when the round closes, and switch off anyone's access at any time.

What it doesn't do (yet)

There is no NDA that investors click to accept before the room opens. Most seed and Series A investors won't sign one for a data room anyway, but if you need it, DocSend and Papermark offer it on their data room plans. Linkjar rooms also aren't built for M&A due diligence with hundreds of folders, Q&A workflows and audit exports: for that, enterprise virtual data rooms such as Datasite, Intralinks or iDeals are the right tool.

Data room or a single link?

Early in a raise, a single tracked link to your deck is enough. See how to share a pitch deck with investors. Move to a room once investors ask for the details, so everything stays in one place and you can see who looked at what.

Questions

Do I need a virtual data room for a seed round?: Not an enterprise one. A shared link with your deck, model and cap table, gated by email, covers what seed and Series A investors ask for.
Is a Google Drive folder good enough?: It works, but investors may be asked to sign in or request access, you can't see who opened what, and anyone with access can download everything. A room keeps the files in a viewer and shows you each investor's reading.
Can investors download the documents?: Only if you allow it. Downloads are off by default.
Can I add a document later?: Yes. Add it to the room or replace a file, and the room link stays the same.
Which plan includes rooms?: Rooms are on Pro and Business.

Last updated 21 October 2026