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Lower middle market M&A

Flat rate data rooms.
No surprise invoices.

Unlimited rooms, users, and pages.

Rooms/Project Ironwood
Documents
68 files across 4 folders
#
Name
Files
Why LockRoom

Four reasons bankers switch.

Easy to use
No training. Buyers figure it out in under a minute.
Fast set up
Drag your folder structure in. Room live in minutes.
No limits
Unlimited users on every plan, and no storage overage fees on standard usage.
Flat pricing
No per page invoices. No surprise bills at close.
Permissions

Clean team controls bankers actually use.

Set View Watermarked, Download Watermarked, View Original, and Download Original per buyer group, folder, and file. Watermarked previews by default, original downloads only when you say so.

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Document
View
Download
Business Overview
Financials
Legal
Strategic Plan
Audit Logs

Every click, logged.

Exportable audit logs for every view, download, and permission change, with timestamps and IP addresses. Export to PDF whenever your compliance team asks.

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Project Ironwood
Audit Log
Live
Today · Sep 23, 2026
YouRevoked
Buyer 3 → Project Ironwood
16:05
Marcus AbernathyWatermarked view
Federal Returns.pdf
16:04
Marcus AbernathyViewed
Federal Returns.pdf
16:01
YouGranted Access
Buyer 2 → Tax folder
15:56
Eleanor PrescottViewed
2025 P&L.xlsx
15:55
Eleanor PrescottDownloaded
NDA Final.pdf
15:52
412 events this week · exportable to PDF
Security and Audit Trail

Every view. Every download. On the record.

Every view, download, and permission change is recorded in the room's audit log with timestamps and IP addresses, exportable to PDF at any time. Closed rooms are archived with the audit record retained for 7 years. Hosted on AWS. 256 bit AES encryption at rest, TLS in transit.

Full audit trail
Views, downloads, and permission changes
Exportable
7 year archive
Closed rooms keep their audit record
Retention lock
LockRoom is hosted on AWS with AES 256 encryption at rest
Hosted on AWS
AES 256 at rest, TLS in transit
Encrypted
The Math

Same deal. Two very different invoices.

We've seen one quote go from $3,750 to $17,640 at close. Flat pricing ends that.

Scenario
Per Page VDR
LockRoom
Deal size
$25M EBITDA
$25M EBITDA
Data room pages
8,400 pages
8,400 pages
Rate
$0.35 per page per month
Flat $375 / month
Deal length
6 months
6 months
Invoice at close
$17,640
$2,250
Difference at close
7.8x more
87% less
TJ Moruzzi, founder of LockRoom
“I sold enterprise data rooms for years. Boutique banks deserve better.LockRoom is built for them.

TJ Moruzzi·Founder, LockRoom

Book 15 minutes
Pricing

Flat rate. No per page invoices.

Two plans, same features. Live same day. No card. No surprise invoices.

Single room
$375
/month
Month to month. Best for one deal at a time.
  • 1 data room
  • Unlimited admins and users
  • No per page fees
  • No storage overage fees on standard usage
  • 14 day free trial, no credit card required
Start Free TrialSee all features →
For several mandates a year
Unlimited
$6,000
/year
Billed annually. Best for a steady pipeline of mandates.
  • Unlimited data rooms
  • Unlimited admins and users
  • No per page fees
  • No storage overage fees on standard usage
  • 14 day free trial, no credit card required
Start Free TrialSee all features →
FAQ

Frequently asked.

How is LockRoom different from Dropbox or Google Drive?+

LockRoom is built specifically for M&A: permissions per buyer group, folder, and file, watermarked previews that identify the viewer, redaction, and a full audit log of every view, download, and permission change. Dropbox and Google Drive have their own sharing permissions, and Drive lets owners turn off download, print, and copy for viewers. The difference is that LockRoom organizes the room around buyer groups and gives you a per buyer activity record you can export at close.

How long does it take to set up a room?+

Most users have a room populated in 15 minutes. Drag your existing folder structure in. Invite buyers by email. Permission defaults handle the rest.

Who uses LockRoom?+

Boutique investment banks, M&A advisors, business brokers, and founders running sell side deals in the lower middle market.

How much does a virtual data room cost?+

Some VDRs do not publish pricing, and some bill on pages, storage, or users, so the invoice can grow during diligence. LockRoom is flat: $375/mo for a single room, month to month, or $6,000/yr for unlimited rooms, billed annually.

How long does LockRoom keep the audit log?+

Every view, download, and permission change is logged with timestamps and IP addresses, and you can export the log to PDF at any time. Closed rooms are archived with the audit record retained for 7 years. Recordkeeping obligations sit with your firm, so export each room at close into your own archive.

Close your next deal in LockRoom.

Unlimited rooms. Flat pricing. Audit logs regulators accept.
Live same day. No card. 14 day trial.

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