The only lower-middle-market VDR that covers every piece, every phase, every document, end to end
Run the whole sale in one room, teaser to close.
The NDA is signed in the room, the owners decide the LOIs, exclusivity runs on a countdown, and every diligence document files itself to the checklist item it answers. One room instead of email, shared drives, spreadsheets, e‑sign and redaction tools.
Built only for lower-middle-market M&A
Everything a lower-middle-market deal needs, whether you're the buyer, the seller or the intermediary.
- Teaser
- NDA
- CIM
- LOI
- Diligence Docs
- Exclusivity
- Close
From $99 a month (founding price). 30-day free trial. Compare with cheaper data rooms
Drop the whole zip. It sorts itself.
Any batch, scans and zips included: every file is read and filed to the right folder and period. Nobody sorts or renames a thing.
Watch the checklist check itself off.
Each document lands on the checklist item it answers and marks it Covered. The Missing count falls and nobody ticks a box.
SSNs gone before a buyer looks.
SSNs and account numbers are removed from the file, not just covered, on every plan, and each copy is checked again before anyone sees it.
Bring your own checklist. It still files itself.
Upload your Excel request list when you open the room. Its phases and items become the checklist, and every document files to it.
No NDA, no CIM.
Signing the NDA in the room opens the CIM, a submitted LOI opens diligence, and you see where every buyer stands.
The owners decide. Not the inbox.
Owners holding more than half the company accept, counter or decline each LOI, and accepting one pauses every other buyer.
Ask a question. Get the document.
Type “federal tax returns, every year” and the answer is the three returns themselves, filed and dated. No summary to double-check.
Every deal on one screen.
Every live room on one page, most still missing first: what’s resolved, what a document covers and what’s still due.
Monday, 8 a.m.: everyone’s caught up.
No one writes a status email: the broker, the deal team and each seller get their own one-page update on what came in and what’s still missing.
Every step plays as a silent clip.
Sellers hand over 2,400 documents with duplicates piled on duplicates. I put the whole mess in a room and it found 760 unique files and filed them to the request list in half an hour. I touched 17 by hand.
That’s the part of a deal nobody wants. I built it, it’s running on my own sales, and I’m giving the first 25 firms 30 days free on a live deal. Want a room?
The Monday update
Nobody chases status. It’s in every inbox on Monday.
Keeping everyone current is the job nobody on a deal has time for, so the room does it. Every Monday at 8, the broker, the deal team and each seller get their own one-page update: what came in, what is still missing and the dates to closing. Each person sees only their side of the room, and the room admin can change the day or add the buyer in exclusivity.
Subject Project Larkspur: weekly due-diligence update, week of Oct 26
ClosingVault · Weekly due-diligence update
Project Larkspur
Week of October 26, 2026 · Seller edition
Checklist status
15/22Items resolved
7Still needed from you
This week
15 documents added · 15 checklist items resolved · 1 question answered
Timeline
Target closing: Dec 18, in 53 days
Built only for lower-middle-market M&A
We do one thing, and we do it better than anyone else.
Fundraising data room? Not us. Board portal? Not us. Lower-middle-market M&A? ClosingVault is the most feature-rich VDR for those deals, with more features than $10,000 products. See the step-by-step comparison
- 3 min
- A room with standard defaults is set up in about 3 minutes.
- $50M
- Fully customizable for any lower-middle-market deal up to $50 million.
- 20 of 20
- Steps of a sale covered on Starter. The seven low-cost rooms we checked on 2026-11-03 state 2 to 7.
One room, start to close
Every stage of the sale happens in the room.
Each buyer moves through the same stages, and the room does the bookkeeping at every one. Here is what ClosingVault does at each stage, and what it replaces.
-
Teaser
An invited buyer sees only the teaser folder. Access always ends on a date: two weeks by default, two months at most, extended only by the room admin.
Instead of: a teaser sent by email
-
NDA
The buyer reads the NDA in full and signs it in the room. Signing opens the CIM.
Instead of: a separate e-sign tool
-
CIM
Only buyers who signed can read it, in a viewer stamped with their name and the time. You decide, person by person, who may download.
Instead of: a shared-drive link
-
LOI
The buyer uploads a signed LOI. It is accepted, countered or declined only when owners holding more than half of the company approve, and every vote asks “Are you sure?” first.
Instead of: an email thread and a phone tally
-
Diligence
Every document is filed to the checklist item it answers. SSNs and account numbers are removed automatically, on every plan, and buyer questions are answered in the room.
Instead of: a tracking spreadsheet and a redaction tool
-
Exclusivity
Accepting an LOI with its exclusivity period pauses the other buyers’ access rather than ending it. Countdowns keep the room admin and the owners on the same date.
Instead of: a reminder in someone’s calendar
-
Close
Each week the people on the deal get a one-page update, with the timeline to target closing. When the deal ends, archive the room: it stays on file, read-only.
Instead of: status emails written by hand
We checked seven low-cost data rooms on their own sites on 2026-11-03. None states filing to the checklist item, automatic SSN and account-number removal on its entry plan, or LOIs and exclusivity in the room. See the step-by-step comparison
The checklist fills itself
Drop in everything. Handle only what’s missing.
A full diligence request list runs to hundreds of lines. ClosingVault reads every file, scans included, files it under the checklist item it answers and ticks that item. What’s left on the list is what’s still missing.
-
Any batch, any file
Ten files or a thousand, whenever they’re ready. Scanned pages are read, zips and saved emails are unpacked, and exact duplicates are skipped. Every upload ends with a summary of what was added, skipped or failed.
-
Filed to the item it answers
Formation documents go under the item for your state, whatever that state calls its form. Tax forms are recognised by the form printed on them, and bank statements go under each institution and account, by year and month. A clearly newer copy becomes a new version.
-
Unsure? It asks a person
When the AI isn’t sure, the file waits for review. It gets better with every correction your team makes, and that learning stays with your firm. An item closes only with a document or the seller’s word that it doesn’t apply.
Start from your own spreadsheet instead of ours: its phases, categories and items become the room’s checklist. Download our free due diligence checklist to start from.
Something in it for everyone at the table.
Buyers
Know what you're buying, faster.
- Every document lands filed against your request list. No hunting.
- Ask “show me every P&L” and get the files, not a search page.
- Your QoE, attorney and lender each get exactly their access, on a tamper-evident record.
Intermediaries
Run more sales with less admin.
- The checklist fills itself as documents arrive.
- Release access buyer by buyer, stage by stage.
- Every live deal on one page, the one with the most still missing first.
Sellers
Sell your company without drowning in paperwork.
- Drop in everything. Duplicates removed, each file sorted and dated: one seller's 2,400 files became 760.
- Account numbers and SSNs are blacked out before any buyer sees a page.
- Nothing binds your company without the owners' majority, and every decision asks “Are you sure?”
Security
Confidential by default.
A sale is private until it isn't. Here is exactly what protects a ClosingVault room today.
Read the full security page: encryption, sign-in, redaction, the activity log and where your documents go.
Encrypted in transit
Every connection to ClosingVault runs over HTTPS, so documents and sign-ins are encrypted with TLS on the way to and from your browser.
Encrypted at rest
Every document is encrypted with AES-256-GCM using its own key, and that key is itself encrypted with a master key kept apart from the files. This is called envelope encryption.
You decide who downloads
Download is allowed person by person. Everyone else reads in a viewer stamped with their name and the time, with printing and copying suppressed.
Access per buyer and per stage
Each buyer sees only the folders and deal stages opened to them, and the room admin can hide any single document.
A tamper-evident activity log
Who opened, downloaded or changed what, and when, is written to a hash-chained log, so any later edit to the record can be detected.
Verified sign-in
Everyone proves their email address with a one-time emailed code. Room admins also sign in with an authenticator app.
Scans read on our own servers
Scanned PDFs and images are read with OCR inside ClosingVault's own servers, not sent to an outside OCR service.
SOC 2 Type II on the roadmap
We're building ClosingVault against the SOC 2 Trust Services Criteria for security, confidentiality and availability, and we plan to undergo an independent SOC 2 Type II audit. We'll post the audit's status here as it progresses.
No free AI chatbots
ClosingVault never sends your documents to a free AI chatbot. How we handle documents
Your documents never train an AI
Your documents never train an AI model. Redaction runs on fixed rules, not AI.
AI-proof redaction
Blacked-out numbers are removed from the file, not just covered, so no AI or text tool can lift them back out. Every redacted copy is checked again before anyone sees it, and held back if a box isn’t solid or any hidden value can still be found in its text.
Pricing
Start free. Lock in founding pricing.
The firm that opens the room pays, whether that is an intermediary running a sale or a buyer running diligence. Invited buyers, sellers, owners and their teams are always free and unlimited.
Free trial
30 days free
30 days, one active deal room, up to 250 documents and 10 Ask the Data Room questions a day. It comes with our standard due-diligence checklist: add your own items to it. The ClosingVault checklist is on Plus and Professional. No credit card, one trial per company.
Start free trialFounding prices are for the first 25 firms. They keep them for as long as they stay continuously subscribed. Once the founding spots are gone, they are gone.
Starter
$99/mo
Month-to-month, or $79/mo billed yearly.
- 1 active deal room
- 3 archived rooms
- 2 admins
- 50 Ask the Data Room questions a day
- Our standard due-diligence checklist
- AI filing, automatic redaction, owner voting & exclusivity, Q&A and weekly updates
- Shared processing: a 500-document upload usually takes 20–60 minutes, and up to a few hours on a busy day.
After the founding spots: $139/mo, or $109/mo billed yearly.
Start free trialPlus
$199/mo
Month-to-month, or $159/mo billed yearly.
Everything in Starter, plus:
- 3 active deal rooms
- 50 archived rooms
- 5 admins
- Unlimited Ask the Data Room
- Our tested, thorough due-diligence checklist, used in several acquisitions
- Shared processing: a 500-document upload usually takes 20–60 minutes, and up to a few hours on a busy day.
After the founding spots: $279/mo, or $219/mo billed yearly.
Start free trialProfessional
$449/mo
Month-to-month, or $359/mo billed yearly.
Everything in Plus, plus:
- 10 active deal rooms
- 100 archived rooms
- 15 admins
- Saved checklists you can reuse on every deal
- Priority processing: 10 machines reserved for your firm, and your uploads go first when it’s busy. A 500-document upload is fully processed in about 35 minutes, even on a busy day.
After the founding spots: $629/mo, or $499/mo billed yearly.
Start free trialNeed more archived rooms? Add 10 for $10/month ($100/year), on every paid plan.
Processing times are estimates, for about 10 pages per document.
See the full pricing page: every plan side by side, founding and standard prices, and answers to common pricing questions.
Questions people ask first
Last updated: 2026-11-03
What is a virtual data room?
A virtual data room is a secure website where a seller shares confidential documents with buyers during due diligence. ClosingVault is a virtual data room that files itself: the AI files each document against your request checklist, picking from fixed choices and never writing text, from $99 a month.
I have a buyer ready to look this week. How fast can I set up a room?
About 3 minutes with ClosingVault’s standard defaults: start the 30-day free trial, open a room and drop in your documents in batches of any size. The room is fully customizable for the deal, and ClosingVault files each document against the checklist, so you only handle what’s missing.
What happens when my trial ends?
The room turns read-only: you can still see everything, but adding or changing anything needs a paid plan. If you don’t upgrade, owners are warned first and the rooms later move to Trash; upgrading in time brings them back.
Can I bring my own checklist?
Yes. Upload your request list as an Excel workbook when you open the room; Professional can also save it to start your next deal from the same list. Every plan includes our standard checklist, and the ClosingVault checklist is on Plus and Professional.
Our deal files already live in Google Drive. Why not use a data room app that sits
on top of it?
A data room bolted onto Google Drive leaves the files in a general-purpose drive with its own sharing, sync and account controls: anyone with Drive access or a forwarded link can get around the “room”, and one compromised Google account or OAuth grant exposes everything. A ClosingVault room is self-contained: every document is encrypted with AES-256-GCM under its own key, the master key is kept apart from the files, every view and download goes on a hash-chained activity log, and buyer access always expires. Here is the full data room vs Google Drive comparison.
We’re raising a growth round and need a board portal too. Is ClosingVault for
that?
No. ClosingVault is built only for lower-middle-market M&A, buying or selling a company from teaser to close, and we do that one thing better than anyone else. A fundraising data room or a board portal is not us; here is what a lower-middle-market data room covers.
Can the data room analyze the deal for me, like value the company or flag the
risks?
No. ClosingVault’s AI organizes, never opines: it files and finds the documents, and you bring the analysis. You can’t see what a data room’s own analysis rests on (the model, the assumptions, the period, the outcome it optimizes for), so trusting it means betting millions that the vendor got it right. Coming soon: an MCP connection so the analysis model you built and trust can read the room’s documents directly.
We’re selling a $35 million company. Is that too big for ClosingVault?
No. ClosingVault is fully customizable for any lower-middle-market deal up to $50 million, with the same AI filing, automatic redaction, owner voting and exclusivity on every plan.
We’re 6 weeks into diligence in a Dropbox folder. Can we move the deal to
ClosingVault without starting over?
Yes. Download the folder and drop it into a ClosingVault room: each document is filed to the checklist item it answers, and you invite the buyers back at the stage they had reached. Your part takes about 5 minutes. How to move a deal in progress.
Why do M&A deals fall through, and can a data room help?
Many die of the process, not the price: nobody knows where diligence stands, documents come late, or trust breaks. ClosingVault answers each one, starting with the Monday update that tells the broker, the deal team and each seller what came in and what is still missing. Seven reasons deals die, and the fix for each.
Do invited buyers and sellers pay?
No. The firm that opens the room pays. Invited buyers, sellers, owners and their teams are always free and unlimited.
Does your AI read my documents?
It reads them to file them. The AI only picks from fixed choices: which folder, which checklist item, which date. It never writes text, and there’s no chatbot to leak your documents. Scanned pages are read on ClosingVault’s own servers.
Everything for the close, in one vault.
Start your 30-day free trial today: one active deal room and our standard checklist, no credit card. Founding pricing is locked in for the first 25 firms, for as long as you stay subscribed. Want to talk first, or need Enterprise? Leave your email.
Start free trial