It was 2001.
Scientists had, for the first time, mapped out the complete human genome. This breakthrough meant we could understand evolution more clearly and learn how best to tackle specific diseases. It was a momentous achievement. The amount of data involved was colossal and the collaboration required between individuals and teams was immense. It remains the world’s largest collaborative biological project to this day, spread across 20 universities in the US, United Kingdom, Japan, France, Germany, and China. The research has allowed scientists to continually evolve their understanding of humans.
2001 was also a big year at Imprima. We launched Europe’s first Virtual Data Room, IROOMS. The software empowered individuals involved in high-stakes transactions to conduct business far more effectively and efficiently than ever before. It enabled collaboration amongst diverse teams and handled heaps of data, effortlessly.
Whilst scientists have been busy mapping out the human genome, we’ve been busy mapping out the blueprint to successful high stakes deals in scenarios such as M&A, Real Estate transactions, and Legal due diligence.
Working closely over the past 18 years with financial, legal, and real estate advisors who use IROOMS, we’ve been able to understand more clearly, what these transactions require to run more smoothly and what the individuals involved (on all sides of a deal) need to do their job quickly, easily and effectively. IROOMS has been responsible for the execution of deals totalling more than $1tn in value, across 160 countries and involving hundreds of thousands of professional deal makers.
Just as scientists ever-growing understanding of the human genome has helped them develop cures to diseases over time, our understanding of our customers and their needs means we’re evolving our products and services, continuously. So much so, that we felt continuing to call it IROOMS did it a disservice – we wanted to mark a clear point in time that acknowledged how far our service and technology had come. It also gives us an opportunity to recognise we’re no longer a single product company; we now offer a selection of due diligence focussed products, from Asset Lifecycle Management to Artificial Intelligence.
Therefore, we’re discontinuing the name IROOMS, because that’s so 2001. We’ll now simply be referring to our core virtual data room product as Imprima VDR.
Unlike those scientists working on the human genome, we may not be saving the world, but we are pushing the boundaries of what’s possible in high stakes due diligence through our relentless pursuit of developing new technology. With AI-assisted due diligence, self-teaching machine learning algorithms, and an array of functionality enhancements to things such as Q&A, it’s an exciting time for our customers. We look forward to discovering more about them, with every transaction we conduct.
Thanks, IROOMS, over to you, Imprima VDR.