Data room for an extension round.
An extension round reuses the last round's data room with a fresh layer on top: progress since closing, current financials and runway, an updated cap table and the extension terms. Existing investors know the business; new investors in the extension read the full room, so update it rather than building a new one.
Extension round room
- 01 Progress update
- 02 Extension terms
- 03 Current financials
- 04 Capitalization
- 05 Approvals and amendments
- 06 Prior round archive
- 07 Updates since close
How it works for a startup.
An extension, sometimes labelled Seed+, A-1 or A extension, adds capital to an existing round, usually on the same or similar terms. Companies use it when they need more runway to reach the metrics for the next round, or when strong demand lets them take more money than planned.
The key document is a progress update: what the company did with the original round and why more capital now makes sense. Existing investors compare it with board updates. New investors want the same diligence they would do in a fresh round, which is why keeping the old room current pays off.
Legal work depends on structure. Selling more of the same series may need an amended charter to authorise more shares and consents from existing holders. A new sub-series with different terms needs more drafting. Put the approvals and amendment documents in the room.
Top 10 data rooms for this job.
Our five measures, re-weighted for extension round. Places 11 to 17 are listed below the cards.
- Setup speed 26%
- Investor experience 18%
- Access control 20%
- Diligence tools 13%
- Startup pricing 22%
- 1 9.5/10First-rate
- $149 monthly
- 14-day free trial
- 8/12 feature checks
- Investor Q&A
- NDA e-signing
- Dynamic watermarks
- View-only and download control
- SOC 2 (hosting)
- 2 8.3/10Strong pick
- $250 monthly
- Free trial offered
- 8/12 feature checks
- Investor Q&A
- NDA e-signing
- Dynamic watermarks
- View-only and download control
- SOC 2
- 3 8.2/10Strong pick
- Quote only
- Free trial offered
- 9/12 feature checks
- Investor Q&A
- Dynamic watermarks
- View-only and download control
- Viewer activity log
- SOC 2
- ISO 27001
- GDPR
- 4 8.1/10Strong pick
- Quote only
- Free trial offered
- 7/12 feature checks
- Investor Q&A
- Dynamic watermarks
- View-only and download control
- Viewer activity log
- SOC 2
- ISO 27001
- 5 8.0/10Strong pick
- $55 monthly
- Free trial offered
- 9/12 feature checks
- NDA e-signing
- Dynamic watermarks
- View-only and download control
- Viewer activity log
- SOC 2
- ISO 27001
- HIPAA
- 6 8.0/10Strong pick
- Quote only
- Free trial offered
- 8/12 feature checks
- Investor Q&A
- Dynamic watermarks
- View-only and download control
- Viewer activity log
- SOC 2
- ISO 27001
- 7 7.9/10Strong pick
- Quote only
- Demo, no trial
- 10/12 feature checks
- Investor Q&A
- Dynamic watermarks
- View-only and download control
- Viewer activity log
- SOC 2
- ISO 27001
- GDPR
- 8 7.8/10Strong pick
- $299 monthly
- Free trial offered
- 7/12 feature checks
- Investor Q&A
- Dynamic watermarks
- View-only and download control
- Viewer activity log
- SOC 2
- 9 7.6/10Good option
- Quote only
- Demo, no trial
- 8/12 feature checks
- Investor Q&A
- Dynamic watermarks
- View-only and download control
- Viewer activity log
- SOC 2
- ISO 27001
- GDPR
- 10 7.6/10Good option
- $15 monthly
- Free trial offered
- 6/12 feature checks
- Dynamic watermarks
- Viewer activity log
- Bulk folder upload
- Mobile app
- SOC 2
Show places 11 to 17
- DealRoom 7.5
- Intralinks 7.5
- Digify 7.4
- SmartRoom 7.3
- DocSend 7.2
- ShareVault 7.0
- Venue by DFIN 6.4
Folder index.
A starting structure for this room. Rename folders to fit your company and keep the numbers.
Results since the last close, plan versus actual, reason for the extension.
Price, series, amount, investor rights, any changes from the last round.
Monthly statements since the last close, runway.
Updated cap table and pro forma after the extension.
Charter amendment, consents, joinders to investor agreements.
Last round data room, closing set and Q&A, unchanged.
Board decks and investor updates since the last round.
New contracts, hires and IP since the last round.
Need every file by stage? Use the startup data room checklist.
Must-have features.
| Provider | Viewer activity log | NDA e-signing | Dynamic watermarks | Bulk folder upload |
|---|---|---|---|---|
| Ellty | ||||
| SecureDocs | ||||
| iDeals | ||||
| Firmex | ||||
| Citrix ShareFile | ||||
| Ansarada | ||||
| Datasite | ||||
| CapLinked | ||||
| Drooms | ||||
| Onehub |
- Viewer activity log
- Shows which investor opened which file, for how long and when, and exports the record.
- NDA e-signing
- Investors sign the NDA or click-through terms before the room opens.
- Dynamic watermarks
- Stamps the viewer email and the time across every page, so a forwarded screenshot points back to its source.
- Bulk folder upload
- Drag a whole folder tree in at once and keep its numbering.
Set up the room in 5 steps.
- 1
Copy the last room
Keep the previous round as a read-only archive folder and build the extension folders on top.
- 2
Write the progress update
Compare the original plan with actual results and explain why more capital changes the outcome.
- 3
Check authorised shares
Confirm the charter authorises enough shares of the series. If not, prepare an amendment and the required consents.
- 4
Give new investors the full set
They need the same diligence as the original investors. Point them to the archive and the new items.
- 5
Collect joinders
New investors sign joinders to the existing investor agreements; track them in the room.
Common mistakes.
- Building a new room from scratch and losing the history of the last round.
- Running out of authorised shares mid-close.
- An extension with no clear reason, which reads as a stalled raise.