August 29, 2013
V-Rooms™ announced that their online virtual data room program has helped private corporations raise more than $1 billion from accredited and institutional investors. These investments have been made via Private Placement Memoranda (PPM), which must adhere to strict SEC and FINRA regulatory guidelines.
“We are very excited about this $1 Billion Milestone,” said Dan Bradbary, CEO of V-Rooms™. “Over the past 7 years we have assisted hundreds of fundraising efforts and will continue to help bankers, attorneys and corporate professionals securely exchange mission-critical information for fundraising efforts, M&A and other legal transactions.”
The V-Rooms™ program provides a controlled repository to store and share sensitive information such as financial models, employee data and legal documentation. In addition to securely storing and distributing the information, V-Rooms provides the ability to control document access, as well as track who has viewed which documents. Note that it is imperative that administrators be able to set the level of confidentiality of each document, so they can be sure to limit access to those specific parties.
“V-Rooms™ saved us valuable time and money during our $30 million Series C fundraising effort and helped us accomplish our goals quickly and efficiently by providing secure document repositories over which we had total access and control,” said Marc Gorlin, Chairman & Co-Founder at Kabbage, Inc.
Now the JOBS Act has opened the doors for the solicitation of accredited investors for private investments via a PPM. However, the SEC has imposed additional “accredited investor verification steps” to substantiate the investors’ status. V-Rooms™ will be able to continue to provide controlled PPM distribution portals and also secure repositories for the background investor verification information that must be collected to meet the new regulations.
V-Rooms™ provides a cloud-based, customizable virtual data room (VDR) solution that is designed to streamline document management, collaboration, exchange and archiving for financial, legal and corporate professionals. The V-Rooms™ Software-As-A-Service (SAAS) secure document portal facilitates the secure exchange of sensitive information providing compliant and auditable transactions. V-Rooms™ enables the acceleration of complex, information-intensive processes while reducing the time and expenses associated with data distribution, courier, printing and travel. Additional information can be found at http://www.V-Rooms.com.