Datasite vs Donnelly DFIN Comparison: Complete 2025 Guide

Choosing the right virtual data room (VDR) provider is a critical step in any M&A transaction or corporate finance process. A VDR isn’t just a document repository. It’s the secure workspace where due diligence, negotiations, and deal execution happen. The wrong choice can slow down workflows, increase costs, or even put sensitive data at risk.

This article provides a detailed, unbiased Datasite vs Donnelly DFIN comparison. We’ll examine their features, security and compliance standards, pricing models, usability, and support, helping you decide which platform best fits your transaction needs.

Datasite vs Donnelly: General overview

Let’s start with a quick look at two of the biggest and most secure data room providers in the market — Datasite and Donnelley Financial Solutions (DFIN).

Datasite

Merrill Datasite is a global leader in the virtual data room (VDR) market, with more than five decades of experience in capital transactions. The company positions itself as the platform “where deals are made,” focusing on speed, security features, and efficiency for dealmakers worldwide.

Key facts about Datasite:

• 50+ years of capital transaction expertise
• 15,000+ transactions supported annually
• 1.6M+ users since 2020
• Active in 180+ countries

Here are the core software solutions the company offers:

1. Datasite Diligence. Premier sell-side secure data room for due diligence.
2. Datasite Acquire. Buy-side transaction management platform.
3. Datasite Prepare. Tools to ensure readiness for upcoming deals.
4. Datasite Outreach. Optimized deal marketing and investor outreach.
5. Datasite Pipeline. Central hub to capture and track opportunities.
6. Datasite Archive. Secure preservation of sensitive project data with automatic electronic archiving.
7. Datasite Market Intelligence. Real-time insights for smarter dealmaking.

Datasite serves financial institutions, healthcare and life sciences, oil and gas, industrials, technology, media and telecom, consumer retail, real estate, and renewable energy.

Key use cases include M&A (buy-side and sell-side), IPOs and fundraising, restructuring and financing, licensing, secure repository, and board portal.

👉 Interested in how Datasite compares to another top VDR provider? Check out our detailed guide on Datasite vs Intralinks.

Donnelley Financial Solutions

Donnelley Financial Solutions (DFIN) is a leading global risk and compliance solutions company. Its flagship product, Venue data room, is designed to accelerate deal processes with advanced document security, AI-driven tools, and intuitive collaboration features. 

As the world’s largest SEC filing agent, DFIN combines regulatory expertise with technology to help corporations, funds, and advisors navigate complex transactions efficiently.

Key facts about DFIN:

• #1 SEC filing agent for corporations
• 200+ Fortune 500 companies as clients
• 500+ industry experts worldwide

The company offers the following solutions:

• Venue Virtual Data Room. A secure platform to share confidential documents and manage deals.
• Financial, SEC & ESG Reporting. Tools to prepare and file financial, regulatory, and ESG reports quickly and safely.
• Global Investment Compliance. Software that helps companies stay compliant with global financial regulations.
• Corporate Repositories. A central place to store and organize important company documents.
• Beneficial Ownership Reporting. A solution to track and report who owns or controls a company.

DFIN serves public corporations, private corporations, advisors and law firms, government, and fund & investment companies.

Key use cases include M&A, IPOs, fundraising, ESG compliance, SPAC/De-SPAC, alternative investments, proxy reporting, and regulatory book of record.

Datasite vs DFIN Venue: Core features comparison

When comparing Datasite and DFIN Venue, both platforms cover the essential functions expected from a modern virtual data room. The table below highlights their shared capabilities across key categories.

Feature category	Datasite	DFIN Venue
Document management features	Centralized data room with trackers to organize requests and link documents without spreadsheets. Bulk upload.	Flexible index with drag-and-drop organization, staging area for preparing content, and document previews. Hierarchical folder structure.
Collaboration tools	Real-time collaboration via trackers and comments, mobile app access for deal management.	Tree view navigation for one-click expansion, and multi-group permissions for team-based access.
Q&A workflow	Centralized hub with automated routing, approvals, FAQs, and bulk imports/exports.	Built-in Q&A with approval workflows and audit logs for transparency.
AI-based automation	AI-enhanced tools to speed up search, review, and due diligence.	AI-powered full-text search to quickly find documents and insights across large rooms.
Reporting & analytics	Real-time, insightful analytics with customizable and scheduled reports and exports to Excel/CSV.	Integrated dashboards for monitoring user activity, document views, and engagement.
User roles & permissions	Granular access permissions applied to documents and trackers.	Multi-group permissions with detailed audit trails for accountability.

While both platforms share many standard VDR capabilities, each also provides distinctive tools that set it apart:

Datasite

• Redaction AI. Automated redaction and unredaction to accelerate due diligence.
  
• Semantic search. Finds synonyms and multilingual content, even within images or scans.
  
• Mobile-first Q&A. Manage the entire Q&A process securely from a mobile app.
  

DFIN 

• Project self-launch. Create and configure new rooms instantly without provider support.
  
• Integrated investor reporting. ActiveDisclosure connects reporting and compliance directly to Word.
  
• Multi-file redaction. Bulk removal of sensitive data across multiple documents at once.
  
• Contract analytics. AI-assisted review for faster, more accurate contract analysis.

Security features and compliance

Both Datasite and DFIN Venue place heavy emphasis on protecting sensitive deal data, offering enterprise-grade security and compliance features that meet global regulatory requirements.

Datasite

Datasite protects sensitive information with multiple layers of security:

• Encryption. All data is encrypted both at rest and in transit, so files are unreadable if intercepted.
  
• Access controls. Supports single sign-on (SSO), two-factor authentication (MFA), and information rights management (IRM) to make sure only the right people can view or share documents.
  
• Certifications. Independently certified to international standards, including:
  
  • ISO/IEC 27001, 27017, 27018 (information security and cloud security)
  • ISO/IEC 27701 (privacy information management)
  • ISO/IEC 42001 (AI management systems)
  • SOC 2 Type II (service organization controls for security and privacy)
    
• Additional protections. The provider also offers dynamic watermarking, audit trails,  remote shredding, and document expiration dates — top features that help safeguard confidential information throughout the deal process.

DFIN 

DFIN Venue takes a similar approach with a focus on compliance in highly regulated industries:

• Encryption. Bank-grade AES 256-bit encryption protects files at rest and in transit.
  
• Access controls. Includes SSO, multi-factor authentication, and role-based access control (RBAC) to set detailed user privileges.
  
• Certifications. Independent audits and certifications include:
  
  • SOC 2 Type II
  • ISO/IEC 27001:2013
  • HITRUST (healthcare data protection)
  • GDPR compliance for handling EU personal data
    
• Additional protections. Intrusion prevention and detection systems (IPS/IDS), IP address tracking for user activity, and third-party penetration testing to find and fix potential vulnerabilities.

In short, both virtual data room providers deliver best-in-class security, but Datasite leans on a broader range of ISO certifications, while DFIN Venue highlights ongoing monitoring, intrusion protection, and HITRUST compliance to reassure highly regulated industries.

Pricing details and cost comparison

Both Datasite and DFIN Venue use a quote-based pricing model. Neither provider publishes specific rates or cost calculators on their websites. Instead, prospective clients are directed to contact sales teams for tailored proposals.

Buyers should expect pricing to vary depending on deal complexity, document volume, user access requirements, and the mix of features included. The safest approach is to request itemized quotes from both vendors to ensure fair comparison and to clarify which features are bundled versus add-ons.

👉 To understand the broader landscape, you can explore virtual data room pricing models in more detail and see how providers typically structure their fees.

User experience and ease of use

A VDR must be simple to navigate, with clear dashboards and smooth workflows to keep transactions on track. 

Datasite stands out in this regard, earning a 4.7/5 rating on Capterra, inclusion in G2’s Top 50 Content Management Products, recognition as a SourceForge Leader (2025), and a Top Rated award from TrustRadius. These awards show that users are very satisfied, especially with how easy the platform is to use and set up. Many clients mention clear dashboards and the fact that they require little training.

DFIN Venue also performs strongly in user feedback, holding a 4.5/5 rating on G2, and perfect scores of 5.0/5 on both Software Advice and Capterra. Clients often highlight its intuitive design, smooth onboarding, and responsive support. Venue’s user satisfaction is particularly strong in complex business deals, where features like tree views, staging areas, and document previews simplify the management of large data sets.

Customer support and training

Good onboarding and a responsive support team are essential for smooth deal execution. Datasite and DFIN Venue both offer global support, but their approaches differ in detail and transparency.

Datasite

• Availability. 24/7/365 support in 20+ languages.
  
• Dedicated support. A dedicated project manager helps with task management, like structuring documents, setting permissions, and customizing dashboards.
  
• Managed help. The team can handle time-consuming work such as importing files and organizing content.
  
• Training resources. The Datasite Assist portal includes how-to guides, video tutorials, FAQs, and a digital assistant. Premium clients can access strategic consulting through Datasite Assist – Elite.
  
• Support channels. Live chat, phone, email, and even SMS in some regions.
  
• Ease of access. Support can be reached instantly by tapping the app, typing in chat, or calling directly.

DFIN Venue

• Availability. Support offered around the clock with regional phone numbers for US, EMEA, and APAC.
  
• Multilingual coverage. Support available in multiple languages across global offices.
  
• Training resources. Provides access to DFIN University for product training and certifications, plus a knowledge hub with guides and webinars. Venue-specific training is still being expanded.
  
• Support channels. Phone lines, a contact form to request help, and assistance from a regionally assigned project manager to guide clients through complex transactions.

Alternatives and competitors

While Datasite and DFIN Venue are among the leading players in the VDR market, other providers may be a better fit depending on company size, deal type, or budget:

• Ideals. Emphasizes simplicity, speed, and transparent pricing. Suited for organizations of all sizes, from small businesses to large enterprises, that want enterprise-grade security measures without unnecessary complexity.
  
• Firmex. Focuses on ease of setup, predictable pricing options (subscription or single-project), and strong global adoption. A good fit for mid-market companies looking for reliable functionality at a reasonable cost.
  
• Ansarada. Positions itself as an AI-powered deal platform with transparent pricing, predictive insights, and compliance tools. Well-suited for fundraising, IPOs, and transactions where analytics and readiness are critical.

Key takeaways

• Datasite and DFIN Venue are both leading VDR providers with strong track records in M&A and corporate finance.
  
• Datasite stands out for its AI-powered features (like automated redaction and semantic search), extensive ISO certifications, and proactive, hands-on customer support.
  
• DFIN Venue differentiates itself with compliance-focused tools, integrated investor reporting, project self-launch, and protections like HITRUST and GDPR compliance.
  
• Both platforms share common strengths in document management, Q&A workflows, collaboration, reporting, and role-based permissions.
  
• Pricing for both is quote-based and not publicly disclosed, meaning buyers should request detailed, itemized quotes to avoid hidden costs.
  
• Alternatives like Ideals, Firmex, and Ansarada may be more suitable for smaller budgets, mid-market companies, or teams seeking simpler usability and transparent pricing.

FAQs

What is the main difference between Datasite data room and DFIN Venue?

Datasite focuses on AI tools (like redaction and semantic search) and full-service M&A support. DFIN Venue emphasizes compliance and communications management, investor reporting, and self-service setup.

Which VDR is more secure?

Both are highly secure. Datasite offers a wide range of ISO certifications and strong audit controls. DFIN Venue adds HITRUST, GDPR compliance, and intrusion monitoring. The better choice depends on your industry’s regulatory needs.

Which is more cost-effective for small M&A deals?

Both use quote-based pricing. Datasite often charges per page, which may add up. Venue may offer more flexibility with features. For smaller deals, alternatives like Ideals or Firmex can be more budget-friendly.