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Startups can benefit from a virtual dataroom (VDR) to speed up the fundraising process. This is done by providing the documentation potential investors need. This can include detailed financial records, IP ownership documentation and detailed revenue projections. This information, when combined with a pitch, can aid investors in deciding whether or not to make an investment in a company.

It is important to keep in mind that even with the ease of access provided by VDRs, even with the ease of access provided by VDR due diligence should not be done in a hurry. Founders must be sure to label and categorize files and folders. They should also make use of consistent metadata and name conventions when uploading. They should also ensure to group related documents together for each deal or project and allow users to quickly locate the information they require. It is also crucial to limit the amount of information that can be accessed and to update the data room frequently to reflect any new or modified documents. Financial statements that are outdated or not up-to-date or contracts may mislead potential investors and partners.

Additionally, founders should refrain from sharing selective metrics when creating presentations for their VDR. For instance, when sharing retention or engagement data, it’s crucial to present the entire metric not just a subset of the most promising users. This approach can detract from the message that you’re trying convey and could indicate that you don’t understand your data. Instead, you should share the information that is most important to your target audience. This will keep your viewers interested and help them better comprehend the results and implications.

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