Europe’s leading provider of virtual data rooms has received the award for strong sales growth for the second consecutive year
Frankfurt, 10th November 2016 – For the second year running, Europe’s leading provider of virtual data rooms, Drooms, received the Deloitte Technology Fast 50 Award at a ceremony at the Palmengarten Gesellschaftshaus in Frankfurt. Since 2001, Deloitte has been awarding prizes to the fastest growing technology companies in Germany, measured by percentage revenue growth over the last four years. Drooms’ proprietary technology for accessing highly confidential information via a secure virtual data room has already been used by over 25,000 companies in complex transactions such as commercial real estate deals, mergers and acquisitions, IPOs or flotations. The internationally active company can boast sustained revenue growth since its founding.
Market leadership through sustainable growth
Drooms was founded in 2001 and has since established itself as a pioneer in the European virtual data room market by developing an online platform for due diligence activities. By regularly investing in technology, employees and expertise, the company has consolidated its market leadership and now employs around 100 staff in 23 countries. “We are very proud to receive this award for the second year running. Above all, we attribute our success to our highly motivated staff and our innovative spirit, shown once more by the new product we are introducing this year, Drooms NXG,” says Jan Hoffmeister, Co-Founder and Chairman of Drooms.
In autumn, Drooms introduced the new generation in online due diligence, Drooms NXG. With the new platform, workflows can be automated for the very first time. The new virtual data room enables real-time translation of documents in the data room itself as well as the first implementation of automated red flag analysis. Drooms NXG was developed over a period of two years by a dedicated development department in Frankfurt. “With these new digitised workflow developments for transactions we will be able to expand our market leadership even further,” asserts Hoffmeister.
“We are delighted that once again so many technology companies with impressive ideas have applied for the Fast 50 Award this year. This illustrates yet again Germany’s innovative capability. In this digital age, competent IT solutions and business processes are more in demand than ever before. All applicants for the Fast 50 recognised this demand and are successfully realising their potential on the international market as well,” explains Dr Andreas Gentner, Partner and Head of Technology, Media & Telecommunications at Deloitte.