Which functionality is included? 

The Collaboration Manager Free Plan includes the same functions as the SharePoint Standard site provisioning engine. But the complete architecture is based on site collections.

arrow39Up to 15 active workspacesarrow39Workspace approval process
arrow39Up to 50 usersarrow39Custom request form
arrow39Unlimited numbers of templatesarrow39Mapping Users and Groups
arrow39Copy Site Objectsarrow39Workspace item level security
arrow39Copy SharePoint Contentarrow39Export / Import of templates