On the lighter side of things, we ask Vinay Samuel, CEO and founder, Zetaris, what makes him tick.
What would you describe as your most memorable achievement?
After working in the data analytics industry for over 20 years, I was frustrated at the lack of innovation in how it approached data management and preparation. I turned down a million dollar contract and headed into my garage to build a totally new approach, pivoting from a career as an enterprise level technology executive and CEO. I set about building the world’s first analytical data fabric for enterprise reporting, analytics and AI. This enables disparate data to be analysed in real time from any source without the complexity of building data lakes.
I wanted to find a new way to dramatically speed up the time it takes to analyse and extract data insights. My wife recognised the huge potential and supported taking a risk and agreed I should turn down the million-dollar salary I had on offer and leap into the unknown and launch Zetaris – a huge leap of faith with four young children at the time.
We recently raised $30 million, securing backing from In-Q-Tel (CIA backed), Exto Partners, Vulpes Ventures Singapore, 72 Capital and others. Zetaris is now valued in excess of $150 million. Zetaris customers include Telstra, NBN, Optus, Nokia, BUPA, Melbourne Water and Murdoch Children’s Research Institute. We launched Zetaris on the Microsoft Marketplace and Ingram Micro Cloud Marketplace in Australia in 2020 and expanded into nine global markets. Zetaris is part of a global alliance with IBM, Accenture and Ernst and Young and recently signed a significant account in the US with an HR provider. We recently appointed a US country manager to supercharge growth in the region.
What first made you think of a career in technology?
My love of technology started with it being a fun new toy to play with and evolved into a career. When I was 14 years old, I gained access to a Commodore 64 and taught myself BASIC from the manual enclosed. I fell in love with basic coding and technology because of all the possibilities it could do. At first it was just for fun and then it turned into how I could leverage technology to solve problems.
What style of management philosophy do you employ with your current position?
We stand out because we have built a culture based on the conviction that data analytics and management can be a dramatically easier process than it has been in the past or still is for many organisations today. Our whole company understands the pain our customers feel when they approach big data projects and we are passionate to solve it and show the market there is a more efficient, cheaper and effective way to do it.
It’s important to foster a company culture where you can be positively critical. It is okay to challenge each other, have friction and make mistakes. But it is not okay to not make up afterwards and move forward. At Zetaris we don’t hold grudges and understand we are all working and galvanised around one common purpose. We hold very strong opinions at Zetaris, but we hold them loosely.
You need to surround yourself with the right people who have the right mix of skills. Being by yourself is the quickest way to fail. You achieve more success when you understand that you don’t have to do everything alone and don’t need to have all the answers. Having the right board is an enabler. A lot of startups get this wrong and the founder fills the board with their mates. Your board should comprise the right mix of people that your business needs for the future. I established my board 18 months into the journey and I focused on appointing people with the right skills across governance, compliance, strategy, finance and marketing. If your startup is failing, have a look at your board and question if you have got that mix right.
What do you think is the current hot technology talking point?
AI and large language models. I believe that technology should blend into the natural world and shouldn’t be intrusive in people’s lives. ChatGPT and large language models are an augmentation of human intelligence. The amount that this technology can blend in and not be intrusive in people’s lives will dictate how widely adopted it will be by mainstream consumers. AI and large language models are not the only technology that are developing at fast speed, there are other technologies in the areas of biohacking, the microbiome, longevity and ageing that are accelerating rapidly.
How do you deal with stress and unwind outside the office?
I believe it’s important to return to the hobbies you enjoyed as a child, to help you relax and unwind. When I am in the US with the business, I take my guitar with me and play in the hotel room. I started playing guitar in my cover band Rip it up in 2000 and we’ve been playing in various spots around Australia and overseas. I also greatly enjoy time with the family on beach trips.
If you could go back and change one career decision, what would it be?
I strongly believe in destiny and that every step on the journey and twist of fate is leading you where you need to go. Choosing to walk down a road a certain way and the choices you make dictates where you’re going to end up. I could never have imagined the journey Zetaris has taken or the success we have achieved, if I didn’t walk the journey I did. I wouldn’t go back and change anything about the past, regardless of any challenges, because it all led me to where I am today and I am grateful for all those experiences.
What do you currently identify as the major areas of investment in your industry?
Better and faster ways to prepare data for AI. The issue that is being grappled with at the moment and where investment is being made is in how to clean data, fast, in real-time to feed AI with accurate information and insights. When we think about what are the inhibitors to AI growth, it is access to real-time knowledge and to solve it means data preparation and integration. Generative AI will in the future write SQL for you, build queries and deliver faster, more accurate insights – this is where major investment is being made.
What are the region-specific challenges when implementing new technologies in APAC?
Before our customers onboard with us they undertake a pilot and many times, such as with one massive telco in Australia, they actually didn’t believe we had really done our job. We had to prove that we had done the query and show them how we achieved the results. They didn’t believe the speed of our data engine and how fast it was and that we were able to take a query that used to take them 8 hours and do it in just 30 seconds! We had to prove it and break it down for them to understand how this was even possible. The power of our engine is a gamechanger and of a magnitude that our customers at first have difficulty believing.
Australia’s mentality to technology has shifted in recent years, from leading the APAC region. Singapore has now taken over and is leaps and bounds ahead in their appetite for risk taking, disruption and being a hub of innovation and investment. Australia currently is more defensive, not as willing to break things, disrupt or innovate. Australia is currently looking at the US lead and then running with that technology.
What changes to your job role have you seen in the last year and how do you see these developing in the next 12 months?
With the unpredictability of the current economic climate, higher interest rates and tighter capital, my role has shifted to a large focus on the external environment and anticipating and interpreting emerging trends and if we need pivot strategies for advantage. I am less hands on with the technology than I used to be and more externally focused on customers, partners and company growth and strategic approach.
What advice would you offer to someone aspiring to obtain a C level position in your industry?”
The first person you really need to convince that you have what it takes to enter the C suite, is yourself. The day you say it and believe it with conviction, conquer your own self-doubt and imposter syndrome, is the day you will have the confidence to go and find a way to make it a reality. Self-belief is key, the how you’ll do it, you can easily solve once you know internally beyond doubt that you will.
It is also important to never take yourself too seriously and make sure work is fun. Understand your personal motivations for doing the job. If it is to provide a better life for your family, then you won’t suffer the little things, you will let them slide off you and not stick. Remember the big picture and your personal reasons why. And it is imperative to surround yourself with amazing people.
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