S2 E4: VAST Data CEO/founder Renen Hallak: “When we started, AI wasn't a thing.”

Fund/Build/Scale

One of the first interviews I did for the podcast was with Renen Hallak, CEO and founder of AI infrastructure company VAST Data.

The company launched in 2019, and three years later, it was ranked No. 5 on the Deloitte Technology Fast 500™. Today, its customer base includes massive organizations like Disney, Verizon, the US Air Force and the US Department of Energy. It’s one of the fastest-growing companies in its sector.

You can probably tell I was a little nervous.

Most of the questions I asked covered VAST Data’s first eighteen months: his customer discovery process, how his team worked to gain traction and build credibility with clients and also, why he looked for a co-founder who could take over go-to-market strategy.

Renen also spoke frankly about his previous experiences launching startups, which weren’t as successful.

When it came to fundraising, “I did not know how to do it,” he said. “I didn't understand the game. I thought that VCs judge ideas based on the merit of the idea. In fact, I think most of the weight goes to who you are, what you've done, and who vouches for you, in terms of who they choose to invest in.”

If you’re an academic or a worker in a technical role who’s thinking about starting up, you’ll definitely want to listen to this episode.

LINKS

• Renen Hallak, CEO/founder, VAST Data
• VAST Data
• VAST Data Ranked 5th Among North America’s Fastest-Growing Technology Companies [press release]
• Fund/Build/Scale on LinkedIn
• Fund/Build/Scale on Substack

EPISODE BREAKDOWN

• What VAST Data does
• Renen's career shift and the early challenges he faced starting VAST
• Why his previous fundraising failed: “I did not know how to do it. I didn't understand the game.”
• Customer discovery processes and early challenges in gaining traction/building credibility
• What he learned from failure about fundraising and VC dynamics
• Strategies for creating innovative products that withstand competition from big players
• How VAST used customer feedback to shape their product development
• The process and timing of building a team, particularly focusing on sales + marketing
• Initial customer acquisition and how VAST secured large-scale data users early on
• From zero -> $1 million ARR -> $10M ARR in about 18 months
• How VAST anticipates/integrates future AI trends into its pipeline + business model
• Renen’s personal advice for new founders transitioning from technical roles to CEO positions