Setting Up a Deal Room - Need Advice

Our startup is preparing for a potential acquisition, and I've been tasked with organizing all our documents. It's my first time doing this and I'm not sure where to start. Should we just use Google Drive or is there a better way to share sensitive information with potential buyers?

I went through this last year with our Series B funding. Google Drive isn't secure enough for this kind of sensitive info. We found a guide on data room setup that walked us through the basics. The main things to focus on are security and organization. Make sure you have folders for financial documents, legal contracts, intellectual property, and employee information. The most helpful feature for us was seeing which documents investors spent the most time reviewing - gave us insight into what they cared about most. Don't overcomplicate it though. Just pick a system, stick with it, and make sure everyone on your team follows the same naming conventions. Saved us tons of time when investors had specific questions