Datasite vs FirmRoom: Complete Comparison 2025

When choosing a virtual data room for M&A transactions, due diligence, and complex business deals, two established names often come up: Datasite and FirmRoom. Both platforms have served the financial industry for years, but they represent different approaches to virtual data room solutions.

Datasite (formerly Merrill DataSite) is a heavyweight virtual data room built for high-stakes M&A deals, while FirmRoom positions itself as a more modern, user-friendly alternative with transparent pricing. However, both legacy providers are being challenged by next-generation solutions that offer better value, transparency, and modern features.

In this comprehensive comparison, we'll examine Datasite vs FirmRoom across pricing, features, user experience, and limitations, then explore why Papermark represents the best modern alternative for organizations seeking enterprise-grade security without enterprise-level complexity.

Quick recap of Datasite vs FirmRoom

1. Datasite vs FirmRoom: Pricing comparison

Datasite pricing structure

Datasite follows a traditional page-based pricing model that can become extremely expensive, especially for larger projects. Based on user reviews and industry reports, Datasite charges approximately $0.60 per page uploaded, with additional fees for Excel files and special media types.

Datasite cost examples:

• 10,000 pages: ~$6,000
• 50,000 pages: ~$30,000
• 100,000 pages: ~$60,000
• 1,200,000 pages (≈10 GB): ~$720,000 annually

The platform requires custom quotes for all pricing, making it difficult to budget effectively. Users report significant hidden costs for training, implementation support, and extended project timelines.

FirmRoom pricing structure

FirmRoom offers transparent, flat-rate pricing with three main tiers:

Standard Plan: $495/month

• 10 GB storage
• Unlimited admins and users
• Next generation VDR features
• Data security and theft loss protection

Professional Plan: $995/month

• 50 GB storage
• Unlimited admins and users
• Next generation VDR features
• Data security and theft loss protection

Enterprise Plan: $1,995/month

• 200 GB storage
• Unlimited admins and users
• Next generation VDR features
• Data security and theft loss protection

FirmRoom's transparent pricing eliminates hidden fees and provides predictable costs regardless of document volume or user count.

Pricing comparison table

2. Datasite vs FirmRoom: Feature comparison

Document management and setup

Datasite features:

• Drag-and-drop file upload with bulk import functionality
• Built-in templates and email-to-project upload
• AI-powered categorization and indexing
• Folder structure preservation
• Complex setup requiring training

FirmRoom features:

• Lightning-fast upload speeds with no maximum upload cap
• Instant uploads with no wait times
• Easy-to-navigate interface
• 2-minute setup without sales meetings
• Customer-led training videos

Security and compliance

Datasite security provides enterprise-grade protection with end-to-end encryption, customizable watermark settings, and granular permission controls. The platform offers detailed audit trails and maintains SOC 2 Type II compliance with rigorous security standards that meet the highest industry requirements.

FirmRoom security focuses on user-friendly security implementation with two-factor authentication and SSO integration. The platform provides data encryption at rest and in transit, along with user-friendly permission settings. FirmRoom maintains multiple certifications including HIPAA, SOC 2, Amazon AWS, FINRA, SEC, and ISO 27001, while offering watermarks over confidential documents for additional protection.

Analytics and reporting

Datasite analytics:

• Real-time activity monitoring
• Document-level engagement tracking
• Team activity analysis
• Customizable reporting dashboards
• Scheduled automatic reports

FirmRoom analytics:

• Real-time insights and one-click reports
• Activity monitoring and engagement tracking
• Customizable dashboards
• Scheduled reports

Datasite vs FirmRoom: Limitations

Datasite limitations

Datasite's complex page-based pricing makes budgeting difficult, while its steep learning curve requires extensive training. The platform offers limited customization, no self-hosting options, and cumbersome user management processes that slow down deal workflows.

FirmRoom limitations

FirmRoom's tiered pricing may not suit all use cases, and the platform provides limited customization compared to enterprise solutions. It lacks self-hosting options, has limited API access, and offers minimal white-labeling capabilities for organizations requiring extensive customization.

Why consider Papermark as the best alternative?

While both Datasite and FirmRoom have their strengths, Papermark represents the next generation of virtual data room technology, combining the security of enterprise solutions with the transparency and ease of use that modern teams demand.

Transparent pricing without surprises

Papermark offers a 7-day free trial and €349/month for the Data Rooms plan. This single subscription includes:

• 5 team members
• Unlimited documents and data rooms
• No file size limit
• Unlimited custom domains for data rooms
• Audit log for visitors
• Q&A module with permissions
• Automatic file indexing
• Advanced customization and branding

Enterprise-grade security

Papermark provides granular permissions, NDAs, watermarking, and audit logs with bank-grade security. Features include:

• SOC 2 Type II compliance
• GDPR/CCPA support
• SSO and MFA integration
• Dynamic watermarks on every document
• Page-level audit logs for compliance

Page-by-page analytics

Track engagement across documents and decks with comprehensive analytics:

• Page-level engagement tracking
• Document view analytics and heat-maps
• Real-time activity monitoring
• Customizable reporting dashboards
• User behavior insights

Modern productivity features

• AI-powered auto-indexing and full-text search
• Granular user permissions down to the page level
• Integrated Q&A workflow and real-time notifications
• Version history, secure shredding, and automatic PDF conversions
• Developer-friendly with fully documented REST API and Webhooks

5-minute setup, zero training required

Invite stakeholders with a single share link, drag-and-drop your documents, and you're live. The interface feels familiar to anyone who has used Google Drive or Dropbox, which means less time onboarding and more time closing deals.

Try Papermark data room

Complete feature comparison

Conclusion

Both Datasite and FirmRoom have served the virtual data room market for years, but they represent different approaches to the same problem. Datasite offers enterprise-grade features at enterprise prices with complex setup, while FirmRoom provides a more user-friendly experience with transparent pricing but limited customization.

However, for organizations seeking the best of both worlds—enterprise-grade security with modern usability and transparent pricing—Papermark emerges as the clear winner. With its €349/month flat rate, unlimited everything approach, and 5-minute setup, Papermark delivers enterprise capabilities without enterprise complexity.

Whether you're a startup raising your first round, a private equity firm managing multiple deals, or an investment bank handling complex M&A transactions, Papermark provides the security, transparency, and modern features you need at a fraction of the cost of legacy providers.

Learn more about Data Room features