Peony is a virtual data room for secure document sharing, due diligence, fundraising and deal workflows. It combines NDA gating, granular permissions and audit logs with a branded reader experience under the seller's own domain, and positions itself as an alternative to DocSend.

NDA-gated access - Recipients sign an NDA with built-in e-signatures before viewing.
Page-level analytics - See who viewed each file, which pages they read and for how long.
AI Q and A - Natural-language questions answered from room documents with page citations.
Watermarks - Dynamic per-viewer watermarks with screenshot protection and access revoke.
Custom domain - Data rooms served from the seller's own subdomain with full branding.

It is useful for M and A advisors, funds, startups raising capital, law firms and teams sharing sensitive documents with counterparties.

Peony offers a Free plan at $0, a Business plan at $30 per admin per month, a Data Room plan at $52 per admin per month, a Deal Team plan at $64 per admin per month with a 4-admin minimum, and Enterprise custom pricing, with viewers always free.