affordable virtual data room Solution
We sat down with Orangedox CEO Chad Brown to discuss the best practices related to Virtual data rooms (VDRs). Traditionally, VDRs have been used to securely share sensitive documents for major business transactions like mergers, acquisitions, fundraising, etc. However, the high costs of traditional VDR solutions put them out of reach for many small and medium-sized businesses.
Fortunately, new secure document-sharing platforms are emerging as affordable and flexible alternatives to traditional VDRs. These solutions provide the same key features as VDRs – like granular access controls, tracking recipient actions, restricting downloads, custom branding, and more – at a fraction of the price.
Affordable and Secure Document Sharing
One company at the forefront of affordable yet secure document sharing is Orangedox. I spoke with Orangedox CEO and founder Chad Brown to learn more about the solution and why he started the company.
As Chad shared, “A lot of our competitors charge, well, traditionally they charge by per like megabyte of storage. There are still some competitors who do this, which I can't believe they're still around, but…. they charge per megabyte literally.”
“You know, it's I think that that's also another massive factor. We see people, especially in this climate right now where you have, you know, tightening budget constrictions, people are looking to us as well. Be like, we got to get rid of this company that we're paying thousands with and use you because you're so much cheaper.”
Affordability was a key focus for Orangedox from the start. But affordability doesn't have to come at the cost of security.
Security Without Sacrificing Accessibility
Orangedox aims to provide a secure document-sharing solution that is also highly accessible. As Chad explained:
“I think having that seamless, um, you know, ability to have your customers open up a document without having to log in, without having to enter credentials, without having that barrier. It's great when you talk, talking about, you know, if you're a startup looking for investment and you're wanting your investors to look, you want them to look at the content, but you don't want them to share it.”
Orangedox uses device-based security restrictions, allowing users to access sensitive documents from approved devices without needing to create user accounts or remember passwords. Access can also be restricted to a certain time period or number of views.
This helps ensure documents stay secure without creating extra barriers for recipients. Chad said, “You're keeping it secure to make it accessible.”
Key Features and Integrations
In addition to security and affordability, Orangedox aims to provide seamless integrations with existing platforms.
As Chad highlighted, “Our big differentiator factor is the integration, by a long shot. And I mean, no one else is really doing that. We're…tightly integrated with Google Drive and also Dropbox.”
By integrating directly with Google Drive and Dropbox accounts, Orangedox eliminates the need to upload or duplicate documents across platforms. Everything stays securely synchronized.
Other key features Chad emphasized include:
- Document tracking to see who viewed or downloaded files
- Custom branding for a professional customized portal
- Restricting downloads to prevent unauthorized sharing
- No storage fees (you only pay for user licenses)
Who's Using Orangedox?
Given the flexibility and affordability of the platform, Orangedox caters to a wide variety of customers. As Chad shared:
“We have a whole variety. Finance companies, a lot of VC companies, we see like smaller startups, we're gonna be on the list as well. We have seen, and this is more sort of our older product we saw, I would say like at some point in other, most of Fortune 500 companies used to orange stocks at some point in time.”
Use cases range from early-stage startups fundraising from investors to large enterprises facilitating mergers, acquisitions, and other major transactions.
The Future of Secure Document Sharing
When it comes to future trends, Chad sees secure document-sharing platforms focusing more on integration and collaboration capabilities versus just storage.
He explained, “I think the trend has moved from storage to secure sharing. And now we wanna be not just secure sharing, but also to do everything to do with what you do as a company with your files.”
He highlighted Orangedox's upcoming document e-signing capabilities as one example of expanding the platform's capabilities beyond security.
No matter what new features emerge, Chad emphasized that the core of any software company should be listening to customers:
“I think a lot of startups, everyone says that, but not everyone does it. It's sort of funny. People really do focus a lot on money, like raising money or getting whatever. But, you know, if you've listened to your customers and listened to what they want and really focused on providing really good customer support and talking with their customers as people, I think you'll have a successful startup.”
How to Get Started with Orangedox
Ready to ditch your expensive VDR and try Orangedox? Getting started is fast and risk-free:
- Start with a free 14-day trial – no credit card required
- Pricing starts at $15/month for basic document tracking features
- A full business plan is $45/month, including secure data rooms
- Team pricing is available for larger organizations
With plans to suit companies of all sizes, why not try Orangedox and see if it can meet your secure document-sharing needs? The friendly team is available to chat if you have any questions getting started.
Listen to our recent Software Spotlight podcast interviews with Chad Brown, serial entrepreneur and Founder of Orangedox, a secure file-sharing and team collaboration platform empowering businesses to work smarter through integrated tracking, access controls, and seamless Google Drive integration.
What file types does Orangedox support?
Orangedox seamlessly supports all the same file types as Google Drive and Dropbox, including PDFs, Office documents, images, videos, and more.
Can I customize branding and domains?
Yes, Orangedox offers white labeling options to customize branding, domains, logos, colors, and more for a consistent and professional look.
How does Orangedox pricing compare to traditional VDRs?
Traditional VDRs often charge thousands per month along with storage fees. Orangedox eliminates storage fees and starts at just $15/month for basic plans.
Is Orangedox secure and compliant for sensitive data?
Orangedox leverages industry-standard 256-bit SSL and 256-bit AES encryption to keep data secure. Compliance can vary based on industry and specific regulations.
Can I add and remove user licenses easily?
Yes, Orangedox makes it simple to add or remove user licenses in real time. Team pricing is also available if you need multiple logins.