Last updated 07-23-2026
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Peony
Peony is a virtual data room for teams that share sensitive documents during deals. You can stand up a branded room in minutes, upload diligence files, gate access with NDAs, and track who read which pages. It targets M&A advisors, founders raising capital, PE and VC funds, law firms, and sales teams that need more control than email or generic cloud folders.
The platform combines secure file sharing with page-level analytics, built-in e-signatures, and document Q&A across uploaded files. AI room generation classifies uploads into folders, flags missing diligence items, and answers viewer questions with cited page references. Peony also renders live HTML artifacts from Claude or GPT so interactive models and dashboards run inside the viewer instead of flattening to PDF.
Pricing is per admin with unlimited free viewers, no per-page fees, and no storage caps on paid data room tiers. Plans range from a free tier for personal shares through Business and Data Room tiers up to Deal Team for active M&A workflows and Enterprise for SAML SSO, BYOK, and self-hosted deployment.
Launch a branded data room in minutes with unlimited viewers and no per-page fees
Track page-by-page engagement so you know which investors or bidders actually read your materials
Gate rooms with NDAs, watermarks, screenshot protection, and granular file permissions
Ask questions across uploaded documents and get cited answers without manual searching
Collect legally binding e-signatures and run structured Q&A inside the same room
Flat per-admin pricing with unlimited viewers and no per-page or storage overage fees on data room tiers
Page-level analytics show exactly which slides or sections each recipient spent time on
Full VDR workflow in one place: NDAs, e-signatures, Q&A, watermarks, and audit logs
Free tier is functional for early deck sharing without a credit card
Setup typically takes minutes instead of days with legacy virtual data room vendors
Deal Team requires a minimum of four admins, which may be heavy for very small teams
Enterprise controls like SAML SSO, BYOK, and self-hosted deployment require custom pricing
Standard plans process data in the US; EU-only residency needs Enterprise
Is Peony free to use?
Yes. Peony offers a Free plan at $0 per admin with up to 50 documents, page-by-page analytics, password protection, and three e-signatures per month. No credit card is required to start.
What is the difference between Business and Data Room plans?
Business ($30 per admin per month) covers secure sharing with up to 1,000 documents, three data rooms per admin, Simple NDA acknowledgement, and screenshot protection. Data Room ($52 per admin per month) adds dynamic watermarking, Advanced NDA with signed PDFs for both parties, unlimited storage, auto-indexing, custom domain branding, and higher document Q&A limits.
Who uses Peony?
Peony is used by M&A advisors, startup founders, venture capital and private equity funds, law firms, commercial real estate teams, and sales organizations. The company reports 6,800+ teams on the platform, including Y Combinator startups and funds managing over $26.3B in assets.
How does Peony compare to DocSend or legacy VDRs?
Peony Business at $30 per admin includes NDA gating, screenshot protection, and analytics that DocSend often reserves for $150 to $250 per month tiers. Compared with legacy providers like Datasite or Intralinks, Peony charges flat monthly per-admin pricing instead of five-figure per-deal contracts.
Is Peony SOC 2 compliant?
Yes. Peony is SOC 2 Type II certified with AES-256 encryption, two-factor authentication, and full audit trails. Deal Team and Enterprise customers can download the SOC 2 report and standard DPA from the dashboard.
Can Peony render Claude or GPT HTML artifacts?
Yes. Peony natively renders HTML files with JavaScript execution so interactive Claude or GPT artifacts, such as financial models or dashboards, run live for viewers. Access can be wrapped with watermarks, NDA gating, and page analytics.