When fundraising, companies need a tool that allows them to easily and securely share critical business documentation with potential investors and partners without compromising valuable intellectual property and proprietary data. In this case study we will cover how PlantForm Corporation uses a SecureDocs Virtual Data Room to maximize their deal value, gauge investor interest, and expedite the deal process.

 

PlantForm, a Canadian private corporation founded in 2008, is a biopharmaceutical company that is commercializing a low-cost, plant-based manufacturing platform for life-saving drugs, vaccines, and antibodies. With numerous biosimilar and innovator drugs in the pipeline and expected market entry dates in 2016 and 2017, this innovative company has an ongoing need for fundraising.

 

The Challenge

Having already secured $5.5 million in funding from founders and angel investors, $2.0 million from government contracts, and another $2.1 million in contract revenue, PlantForm’s founders are focused on raising additional capital and establishing partnerships to enter the marketplace. The fundraising, development contract, and partnering processes all require sharing data, a potentially risky proposition when important intellectual property is involved.

 

The Solution 

PlantForm explored a variety of virtual data room options for sharing sensitive documents during the due diligence processes that support capital fundraising. Fully aware of the importance of securing and controlling access to sensitive data, PlantForm’s executive team found the ideal solution in a SecureDocs Virtual Data Room.

 

Why SecureDocs?

Ease of use was extremely important, especially after struggling with other clunky and hard-to-use products. The PlantForm team also wanted to be able to:

 

  • Control who could view each document 
  • Create a record of who viewed what
  • Gauge investor interest
  • Protect data with non-disclosure agreements
  • Professionally present corporate information

 

After trying SecureDocs and discovering that it would indeed deliver all of the above and more, PlantForm began using the virtual data room exclusively.

 

The Results

In addition to its ease of use, complete record of all documents viewed, security benefits, and affordable pricing, SecureDocs has delivered a significant financial benefit to the company, said President and CEO Don Stewart.

 

 

“Using SecureDocs means we don’t have to send documents to individual investors and that saves us a great deal of time, and therefore money. It’s an efficient, straightforward, secure system that has become a valuable tool for our company as we grow.” 

 

Using AES 256-bit encryption, SSL/TLS connections, and multi-factor authentication, SecureDocs is highly secure and loaded with features such as a simple user interface, audit logs, permission-based user roles, dynamic watermarking, activity alerts, and customizable non-disclosure agreements. 

 

Not only does SecureDocs meet all of PlantForm’s criteria, at just $200 per data room per month with unlimited users and unlimited data storage, it is an affordable choice for any company, including startups.

 

Today, PlantForm’s executive team uses SecureDocs to share sensitive corporate information and ideas with potential investors and partners with confidence. Audit logs allow them to gauge investor interest as well as create a documented record should an IP infringement occur. Built-in NDAs and automatic identifying watermarks further hold other parties accountable while US government-grade encryption ensures that all documents are unreadable to unauthorized users.

 

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