Firmex Virtual Data Room
Firmex data room review
Firmex is a Canadian virtual data room provider founded in 2006. Due to the 2010 rebranding, it has grown into an international VDR supplier that helps key-industry players achieve their goals. Firmex has offices in Toronto and London. Although acquired by Datasite LLC in 2021, it continues to deliver fantastic value as an autonomous business.
You can request a demo presentation to check how Firmex VDR works. However, the company may also offer a free trial, discussed individually.
The Firmex pricing model is reportedly flexible and cost-effective. According to the users, Firmex charges monthly and adjusts feature and service sets to the requirements of each individual client. To ensure proper data room pricing, it is important for users to outline their requirements and expectations. Potential clients may take advantage of the free trial period.
The company provides VDR services only. Firmex features offer a blend of flexibility, ease of use, and functionality across its data rooms:
- Drag-n-drop upload and bulk download. You can set up a virtual data room in minutes thanks to the drag and drop upload feature – select the files on your device and drag them to the data room. Moreover, Firmex allows you to download automatically converted zip files in bulk, up to 200 GB each.
- Improved desktop document management. If you need to transfer large data volumes, you can use the Firmex Document Exchange for Desktop feature that supports sharing confidential documents larger than 3 GB. Document Exchange is an installable app for Windows and Mac that doesn’t require a web browser, much like an FTP client. This feature also supports bulk download for files larger than 200 GB.
- Email in upload. An Email In tool allows you to upload email files to the data room. For this, you have to enable email attachments in the target folder. The system will generate a custom email address for your folder. Afterward, you can share it with your users, allowing them to send email attachments. A new document will appear in the corresponding directory.
- Straightforward user management. Firmex allows you to add new and existing users to the project through an intuitive user management menu. Send email user invitations, customize user templates, and set notifications to update them on files and folders in the data room.You can also control user access using a single sign-on (SSO) feature and manage rights and permissions for groups of users. Additionally, you can assign roles (administrators, moderators, members) and decide what functionality they will have access to.
- Enhanced confidentiality controls. You can rest assured that confidential documents will go to the right hands thanks to advanced security settings that allow you to set up two-factor authentication, allow users to access subfolders within inaccessible folders, apply various visibility settings to documents, letting only selected users interact with them. In addition, these confidentiality controls include redaction, access restrictions and expiry dates, view-as function, digital watermarks, and more.
- Informative data room reports. Firmex generates detailed activity reports up to the document level. You can check who did what in your data rooms, projects, folders, and individual documents by day, week, month, and year.
- Multi-stage due diligence. You can streamline due diligence by adjusting user permissions and granting them access to files and directories they need. Set a multi-tier due diligence process, and decide who can do what at each stage of sell-side M&A.
- Easy Q&A management. Firmex provides its data room with a comprehensive Q&A section that allows you to coordinate who can ask questions about files and directories, assign question coordinators, experts, and more. Additionally, you can set different Q&A settings for individual projects.
- Cost-effective workflow integration. You can customize the data room’s appearance and features to reflect the workflow of your organization, making it familiar and user-friendly to your employees.
what are firmex virtual data rooms best for?
Firmex is a highly flexible solution that allows small, mid-market companies, and large enterprises to tailor its functionalities to their goals and needs.
Biotech, mining, renewable energy companies, investment banks, government authorities, and many more businesses rely on Firmex VDR. It’s good for IPO, M&A, reporting, document sharing, restructuring, bankruptcy, etc.
firmex compliance certificates
Firmex holds the following certificates:
- ISO/IEC 27001:2013. It defines cybersecurity requirements for organizations.
- HIPAA. This certification ensures best-in-class data protection.
- SOC 2. This standard guarantees privacy, security, availability, and integrity of customer data.
Data security features
Firmex applies industry-leading digital and physical security measures:
- Environmental and disaster protection and key card access for its data centers in the United States, Canada, and Germany.
- AES-256 and TLS 1.2-encrypted online environment.
- Customizable storage location. You can choose what data centers will store your data room.
Firmex can outshine several other data room platforms due to the following advantages:
- Exceptional customer service. You can explore the data room features using a Get Help resource hub and addressing the customer support team via online chat, email, and phone.
- Hardware data room copies. Firmex will send you USB and DVD versions of your data room upon request.
- Great overall experience. The data room has an easy-to-navigate interface that doesn’t overload you with unnecessary functions.
firmex market insights: industries and customers
Around 60% of Firmex monthly traffic comes from the United States. Other countries include the UK, Canada, Poland, and the United Arab Emirates.
Private equity groups, law firms, biotech corporations, and others choose Firmex for document sharing, M&A deals, fundraising, research management, etc.
Overall, Firmex has helped over 4,200 companies fulfill their goals through a secure online platform. The service opens over 20,000 new virtual data rooms in over 100 countries yearly.
Some notable Firmex clients by industry include:
- Investment banking – UBS, Raymond James, Barclays
- Corporate – Skanska, ArcelorMittal, EDF Renewables
- Biotech and essential service – Roche, Sanofi, APOTEX
- Government – the Government of Canada, Canadian Nuclear Laboratories, Canada Post
- Mining – Glencore, Lundin Gold Inc., Eastmain Resources Inc., Torex Gold Resources Inc.
- Legal – Dentons, Osler, Stradling
- Real Estate – CBRE, Cushman & Wakefield
- Private Equity – OMERS, Propel Equity Partners, Century Equity Partners
What is Firmex?
Firmex is a Canadian virtual room service with 16 years of experience that offers a secure file sharing repository and workflow environment.
How much does a Firmex virtual data room cost?
Firmex calculates prices individually depending on your needs, industry, and project specifics. You can reach out to a customer service representative to discuss the service costs.
- Less than 25 GB
- 25 GB to 100 GB
- 100 GB to 1 TB
- Flexible Storage (More than 1 TB)
- Up to 10 users
- Up to 20 users
- Up to 100 users
- Doesn’t matter