We are excited to be expanding our data room offering
iownit’s purpose is to provide advanced technology tools to help entrepreneurs and investors invest in each other. One of the requirements our users have is to have a platform for information sharing during an investment due diligence process. While we always provided basic data room capabilities on the platform our users asked for the ability to offer controlled access to confidential information.
We prioritized that additional functionality to meet our users’ needs, and last week we rolled out a new feature on iownit – a confidential data section. This new feature allows entrepreneurs to upload the confidential documents involved in their investors’ due diligence process while protecting access to sensitive information.
iownit’s secure data section requires that interested investors request access to confidential information and execute a Non-Disclosure and Confidentiality agreement on the platform. This level of secure access will provide both entrepreneurs and investors the capability to share confidential information in a secure and controlled environment.
Here are a few more details about our new data room features:
- Document Management – When entrepreneurs set up their offering they can enable a “confidential section” on the offering page. Documents can be added to the confidential sections on the offering page over time, including the ability to upload multiple documents simultaneously, allowing entrepreneurs to easily update their prospective investors with any material changes.
- Access Control – If a user chooses to request access to the “confidential section”, the offering page managers can grant or deny access with a click of a button. At any point, the entrepreneur has a full list of all interested parties that have access to confidential information and documents, and the ability to revoke access if relevant.
- Custom NDA – While we provide a standard Non-Disclosure and Confidentiality agreement template, the issuer may choose to upload their own preferred agreement and require interested parties to agree to their terms as a condition to gain access.
- Compliance – To address compliance with current regulations, iownit archives, and records all changes and activities related to the offering.
We continue to focus on expanding and improving our platform and features. We believe that enabling efficient information exchange is critical for the evolution of private market investing. We are building additional features to facilitate that evolution, including document-level access policies, additional controls for downloads, investor engagement.
Please stay tuned for future updates!
