Vesparum was founded in 2012 in Melbourne, Australia by brothers Ben and Tim Toner. Ben brings the technical expertise (PhD in Physics from Caltech) while Tim brings the commercial acumen (previously an investment banker at Macquarie Group and Lazard). Ben and Tim were motivated by the large number of opportunities they saw where AI could be applied to solve high-value business problems.
They started by applying AI to equity capital markets, building proprietary databases and predictive models for capital raising transactions. This technology is used by
Vesparum Capital to provide unique data-driven solutions in the Australian market. Vesparum Capital has advised >125 ASX-listed and private clients, with 90%+ of new clients from word-of-mouth referrals.
Using profits from Vesparum Capital, Ben and Tim then bootstrapped
Draftable, a document comparison business. Draftable’s technology was developed by a world-class team with links to Caltech, MIT and Stanford. Today, Draftable is used by 800+ organisations across 65+ countries, with the US currently generating the majority of product sales.
Affinda was launched in 2019. Affinda is an information extraction and document processing business, which combines document reconstruction technology from Draftable with advances in natural language processing (NLP) and computer vision. Affinda offers products and solutions to global customers across a range of industries.
Vesparum Group was self-funded until 2022, when we conducted our first external funding round to accelerate the growth of our AI products businesses. We partnered with a range of family offices and high-net-worth investors, who are aligned to our plan for long-term value creation.
Today, Vesparum Group has a global team of 70 people in 12 countries, and is growing as fast as ever.
