Data Room
The organised set of documents an investor reviews during diligence.
A data room is a structured folder of everything an investor needs to verify: incorporation documents, cap table, financial statements, key contracts, IP assignments and employment agreements.
Preparing one before starting a raise shortens diligence considerably. Assembling it while an investor waits signals disorganisation at exactly the wrong moment.
Access should be controlled and logged. Which documents an investor spends time on is also a useful signal about where their concerns lie.