When any company is raising a round of funding, they have to share documents and information with a potential investor. But, sometimes that deal doesn’t work out, and getting those documents back is difficult, if not impossible.
To solve that problem, CapLinked, a secure deal-facilitating platform, now allows companies to revoke access to documents shared on its site.
The new product, FileProtect, lets companies have full control over their documents and how they get shared with other parties. Users can select a date after which CapLinked will block document opening, copying, and printing — even if it’s been shared.
Some products on the market already serve this function. Adobe, for example, allows users to revoke access to policy-protected PDFs even after they’ve been shared. However, what’s notable about CapLinked’s new feature is that it resides within its secure deal making platform.
Considering the importance of the documents at hand and the desire for discretion among company executives, this is a fairly important new tool. Plus, the new tool is in keeping with the growing trend to provide users with tighter data controls — as messaging and social media apps are increasingly doing.
Founded by former PayPal exec Eric M. Jackson, CapLinked has seen investment from Peter Thiel, Dave McClure, Yammer CEO David Sacks, and Nasir “Nas” Jones. CapLinked’s clients include Sunbelt Business Brokers, Kayne Anderson Capital Advisors, Frontier Airlines, Competitive Power Ventures, and Ernst & Young.