Firmex Virtual Data Room

Firmex data room review

Firmex was founded in 2006 in Toronto, Canada, as a reinvention solution to traditional deal rooms. Firmex data room positions itself as a simple, intuitive tool built to streamline complex procedures such as M&A, regulatory compliance, corporate governance, and more.

Firmex data room offers sufficient functionality for small and medium-sized businesses across all sectors. However, the primary focus for a Firmex data room is clients from investment banking, biotech, pharma, and mining industries. Firmex data centers are certified by ISO 27001 and comply with HIPAA and SOC 2. The data safety is ensured with features such as two-factor authentication, customizable access privileges, and document access expiration. While most Firmex deal room users highlight interface simplicity, others point out a lack of features compared to other providers in the sector. At the same time, users benefit from intuitive file management and fast uploads for files under 5 GB.

The multilingual support team is available 24/7365 by phone or email. The support staff offers advisory, issue resolution, and software training.

Over the last few years, virtual data rooms have completely replaced previously used physical platforms. This trend is especially noticeable when it comes to financial due diligence. The very introduction of this solution has played a great role in the transparency and effectiveness of the diligence process. Uploading financial documents to the online data room for due diligence, partners can access the necessary details at any moment, in any time zone and location. Currently, the majority of virtual data room providers offer 24/7/365 access to uploaded documents, guaranteeing their safety and accuracy.

Firmex virtual data room is characterized by an easy document uploading process. A high level of materials protection with a 2-step verification process, data encryption, and dynamic watermarks are beneficial as well. Complex and sophisticated document security measures contribute to the worldwide appreciation of the platform. Thus, Firmex is used by the representatives of the most different industries. It has clients from the energy sector, banking, funds, pharmaceutical companies, mining firms, and up to the legal sphere. The platform features a multilingual interface that simplifies the cross-national cooperation and data exchange with investors, potential partners, and employees from other countries. Firmex is also a reliable data room for M&A, which provides a range of tools for document management and transaction tracking.