Peony

Peony is a virtual data room that lets teams decide who sees each document, track how viewers engage with files, and revoke access in one click. The page states it can be set up in about five minutes (median setup time 4m 19s) and is priced per admin with no seat bundles. Security features listed include AES-256 encryption, 2FA on every plan, NDA-gated access, granular permissions, redaction, screenshot blocking, and dynamic watermarks depending on plan. Peony also offers AI features such as AI document chat with cited page numbers, auto-indexing and folder classification, natural language search, and live Claude and GPT artifact hosting. The page lists plans Free, Business ($30/admin/month), Data Room ($52/admin/month), and Deal Team ($64/admin/month, minimum 4 admins), with Enterprise available. It reports 8,000+ teams across 60+ countries and 30+ industries, and compares its pricing against legacy VDR providers.

Key features

• Virtual data room with per-document permissions
• Page-level engagement analytics and visitor activity tracking
• Dynamic watermarking
• AES-256 encryption and 2FA on every plan
• NDA-gated access
• Granular folder, file, and page-level permissions
• Document redaction (Deal Team plan)
• Screenshot protection and screenshot blocking
• Detailed audit logs
• Link expiration dates and password protection
• Live HTML and AI artifact rendering with JavaScript
• MCP integration to push Claude artifacts into a room
• AI document chat and Q&A with cited page numbers
• AI auto-indexing and folder classification
• Natural language search
• Built-in e-signatures with AI auto-markup
• Branded and personalised file sharing with multiple links
• Team collaboration with channel-based permissions and file comments

Best suited for

• M&A advisors and investment banking sell-side processes
• Private equity and venture capital LP fundraising and diligence
• Independent sponsors running proprietary deals
• Startups sharing pitch decks and tracking investor engagement
• Law firms managing diligence document review and NDA workflows
• In-house legal teams sharing board materials
• Sales teams sharing proposals and tracking buyer engagement

Pricing

Business is $30/admin/month, Data Room is $52/admin/month, Deal Team is $64/admin/month (minimum 4 admins), and Free starts at $0. Enterprise is available. The page states no per-page, storage, or setup fees on self-serve plans.