Your buyers ask questions the documents already answer.
Seal's data room takes those questions off your desk.
When the answer isn't in the documents, Seal flags the question for you, suggests a document to settle it, and drafts an email requesting it from the seller.
The repeat questions
Seal answers your buyers from the room's documents.
Most of what buyers ask in the first two weeks is already in the memorandum, and they often ask anyway.
Every answer Seal gives to a buyer is a line from a document in the room, and the answer names which one. Anything the documents don't cover still comes to you.
Dana Whitmore, Friday 2:15 PM
How many hours a week does the owner work, and will they stay on after a sale?
Dana Whitmore, Saturday 9:47 PM
The memorandum says the four largest accounts were 62% of 2025 revenue. How much of the 62% is the single largest account?
Dana Whitmore, Friday 2:15 PM
How many hours a week does the owner work, and will they stay on after a sale?
Seal, Friday 2:15 PM
The owner works about thirty hours a week and will stay for six months after close.
Dana Whitmore, Saturday 9:47 PM
The memorandum says the four largest accounts were 62% of 2025 revenue. How much of the 62% is the single largest account?
Seal, Saturday 9:47 PM
The largest account was 24% of 2025 revenue. The next three were 15%, 12% and 11%.
Sample data.
Access, buyer by buyer
Seal opens the room for each buyer in steps you set.
Some brokers put the tax returns behind the NDA and some wait for a signed LOI. Seal starts you on four steps, and you can move any document to another step.
Anything one buyer should have and the rest shouldn't, you release to that buyer by name.
See what a blind teaser leaves out →Sample data.
What the documents don't cover
What Seal can't answer, you can get from the seller.
A question that keeps coming back from buyers is a hole in the memorandum.
Seal names the document instead of the subject, so the seller gets a request for specific files rather than an open-ended question.
Once that document is in the room, the next buyer who asks gets the answer directly.
Curt Hollis, Friday 8:26 AM
The four largest accounts are 62% of 2025 revenue. Are those accounts under contract, and for how long?
Seal, Friday 8:26 AM
No document in the room answers this. The question has gone to the broker.
Are the four largest accounts under contract, and for how long?
Asked by Curt Hollis and three other buyers. Seal needs the customer contracts.
What equipment is included in the sale?
Asked by Marcus Feld, September 4. You added the equipment list the next day.
Sample data.
Your buyers, in the room
Seal shows you who only signed and who's engaged.
A buyer who signs the NDA and then opens nothing isn't the buyer you should be calling back first.
Seal keeps the same record for every buyer on every listing in your book, so a buyer who goes quiet and comes back doesn't have to start over with you.
Sample data.
Your documents
Data rooms hold documents. Seal works from them.
The memorandum is written from the documents in the room. So is every answer a buyer gets, and so is the list of what's missing. Put a document in once, and everything on the deal runs off it.
The data room is part of Seal, with no charge per deal and no charge per gigabyte.
See pricing →In the room
Tax returns, 2023 to 2025
Confidential memorandum
Seller's discretionary earnings, $912,400
Net income from the 2025 return, plus add-backs
Answered for Marcus Feld, Friday 10:12 AM
Revenue was $3,940,000 in 2024 and $4,180,000 in 2025.
Open item
The returns stop at December 2025.
Seal needs the 2026 year-to-date P&L from the seller.
Sample data.