Firmex sells unlimited data rooms on an annual quote-based subscription — a genuinely good shape for an advisory firm with a steady deal pipeline. For a company running a single fundraise or sale, the contract is the wrong size before the product is even opened.
Firmex facts verified on firmex.com and its knowledge base, August 2026.
| Firmex | YourDataRoom.app | |
|---|---|---|
| What it is built around | An advisor's platform: unlimited projects on an annual subscription, or a fixed-term single-project room priced by data volume and length. Toronto-founded in 2006, a Datasite company since 2021, serving 223,000+ companies across banking, corporate, legal, and government verticals. | Running a diligence process — the room, its phases, and the counterparties in it are the core objects. |
| Dynamic per-viewer watermarking | Watermarks with admin-configurable fields, alongside view, save, and print restrictions. | Every plan, from $49/mo. Viewer name, email, and timestamp burned into every page of view-only PDFs, server-side. |
| Staged disclosure | Groups plus granular per-document permissions, with a "View As" toggle so an admin can check what each user sees. Staged release is an admin practice, not a named feature. | A phase is a property of every document and every investor, enforced by the server on each request. Above-phase documents are invisible — absent from listings, 404 on direct fetch. |
| Visitor Q&A | A purpose-built Q&A tool for managing and routing multiple buyers’ questions inside the room, replacing spreadsheets and email. No AI features are listed anywhere on its site. | Investors ask the data room directly; the AI answers with citations from the documents their phase allows, any hour. |
| Per-visitor analytics | Real-time, customizable reports on who is active and what they are viewing. | Per-investor engagement across the whole room — sessions, documents viewed and downloaded, questions asked — on every plan. |
| Pricing model | Quote-based, no published prices: a one-time fee for a single fixed-term project (priced by data volume and project length), or an annual subscription with unlimited projects. | Flat $49 / $149 / $349 per month, published, capacity-tiered, every capability in every plan. Monthly, cancel anytime. |
Firmex ships a "View As" toggle so an admin can verify what each user sees — a genuinely useful tool, and a tell about the model: when disclosure is a stack of per-group, per-document permissions maintained by hand, checking it is a recurring task. In our model there is nothing to check by eye: the server filters every listing, count, search, and fetch by the investor's phase on every request, and what an investor cannot see is absent, not locked — a direct request returns 404, not 403, byte-identical to a document that does not exist. The enforcement detail — including what we have not built, like redaction — is on the security page.
The live demo data room is open — ask it a question and watch the citations come back. Pricing is here, flat, monthly, and published — no annual contract, no quote.