Data-Room Checklist

Confirms ownership, dilution, and the securities an investor or buyer will inherit.

Shows that the company is validly organized and governed.

Documents authorization of material company decisions.

Makes conversion rights and future dilution reviewable.

Reconciles equity compensation to the fully diluted cap table.

Reduces uncertainty around founder and employee equity tax treatment.

Provides a consistent historical record of performance and financial position.

Supports cash balances and helps diligence teams verify transaction completeness.

Explains how reported revenue maps to contracts and accounting rules.

Reconciles billings, revenue, and remaining customer obligations.

Shows forecasting discipline and explains material variances.

Makes future cash needs and operating assumptions explicit.

Surfaces external-accountant findings and the level of assurance obtained.

Reconciles recurring revenue growth to new, expansion, contraction, and churn.

Shows whether customer value persists independently of new sales.

Lets reviewers reproduce retention metrics on a consistent basis.

Shows the capital efficiency and quality of each acquisition channel.

Connects the revenue forecast to observable sales conversion.

Explains changes in monetization, discounting, and customer economics.

Reveals concentration, tenure, and renewal exposure.

Establishes the standard legal and commercial customer terms.

Surfaces unusual obligations that may affect risk or revenue quality.

Quantifies dependence on individual customers.

Makes retention risks and recurring churn themes visible.

Demonstrates that the company owns the intellectual property it operates.

Identifies license obligations and potential distribution restrictions.

Documents controls used to protect customer and company data.

Helps reviewers assess scalability, resilience, and technical debt.

Identifies third parties handling customer data and related dependencies.

Clarifies reporting lines, leadership coverage, and organizational gaps.

Supports workforce cost and retention analysis.

Shows consistent employment and invention-assignment terms.

Documents cost, classification, confidentiality, and IP obligations.

Highlights continuity risk concentrated in individual team members.

Shows where filing and indirect-tax obligations may exist.

Surfaces disputes and contingent liabilities.

Confirms coverage for material operational risks.

Supports tax compliance and exposes unresolved tax positions.