2021 marks 20 years since Projectfusion changed the Data Room process forever, by creating the world’s first virtual data room. Since then, we’ve gone on to provide services for some big name companies, the likes of which include the UK Government, KPMG, Northern Bank, G4S and many more!
It’s been an interesting 20 years to say the least, but we couldn’t have done it without our dedicated team and loyal clients!
Back in 2000, everything was physical and everyone would fly in by plane to visit a physical data room. When Projectfusion created the first Virtual Data Room, it was still common for people to only share a portion of data online, and the rest in a physical data room. There was understandably some kickback to going all-online, with one grizzled lawyer saying that they wanted to “see the whites of their f**king eyes!” in regards to meeting at a physical data room. However, a physical data room was awfully time consuming and not environmentally friendly. Eventually, with an increased uptake of technology, a virtual data room became the norm. The rest, as they say, is history!
Over the years we’ve seen a healthy reduction in the amount of scanning we’ve had to do, as well as internet speeds improving a lot! Then of course the COVID-19 pandemic which has changed lots of businesses forever.
We’ve also helped deploy our Digital Courtrooms service, which provides thousands of users with secure file storage for electronic bundles. Using electronic bundles also has a major environmental impact, saving on paper, on couriers, on the secure disposal of confidential old bundles, and saves in excess of £800 per case when compared to manual bundling and couriers.
We’re proud to have pioneered the world’s first Virtual Data Room, and to have lived to the tell the tale! We’ve survived the dotcom bubble, the 2008 financial crisis and COVID-19… not bad! Of course, we wouldn’t be here today without our dedicated team and our fantastic clients who have supported us along the way.
Here’s to another 20 years! 🎉🥂