Peony

Peony is a cloud-based Virtual Data Room for sharing confidential documents with buyers, investors, clients, and advisors. It is designed for mergers and acquisitions, fundraising, due diligence, investor reporting, and other transactions requiring controlled document access, recipient-specific permissions, and auditable activity records.

Document Organization and Sharing

Administrators can upload individual files or complete folder structures and organize them into separate rooms for each deal or audience. Supported formats include PDF, DOCX, XLSX, PPTX, text, Markdown, images, ZIP archives, and, on eligible plans, HTML, audio, and video.

Access is organized through counterparty groups. Each group can receive a separate link, security configuration, and document permissions. Per-folder and per-file permissions determine whether recipients can view, download, or upload content. Viewers open rooms in a browser without creating a Peony account.

Security and Access Controls

Security controls can be combined for each recipient group:

Peony encrypts files, metadata, and database contents with AES-256 at rest and uses TLS 1.2 or later in transit. Audit trails record document views, downloads, NDA acceptance, signatures, and other room activity. Screenshot controls are best-effort protections; dynamic watermarks remain the principal mechanism for tracing redistributed material.

Analytics and Due-Diligence Workflows

Page-level analytics show which documents and pages each viewer accessed, time spent, scroll depth, return visits, and drop-off points. Deal teams can inspect activity by counterparty and export viewer or session records for further analysis.

Structured Q&A lets counterparties submit questions within a room. Peony can draft cited answers from the room’s documents, after which designated team members review and approve responses before publication. Higher-tier workflows add answer coordinators and approval roles.

Document Intelligence

Peony provides Intelligent Document Processing capabilities on eligible plans. Uploaded documents can be text-extracted and indexed for full-room search, while AI-assisted Q&A returns answers with document and page citations. Additional functions can classify files, identify missing data-room materials, extract information, and propose redactions for sensitive content. AI-assisted Q&A is read-only and does not modify source documents.

Audience and Use Cases

Peony is intended for M&A advisors, investment bankers, private-equity firms, independent sponsors, startup founders, legal teams, and investor-relations staff. Common uses include sell-side due diligence, fundraising rooms, confidential investor updates, document collection, counterparty Q&A, and controlled distribution of transaction materials.