Hammerspace, a leader in distributed, unstructured data management, announced today that they’ve completed a whopping $100 million funding round. That success has raised its valuation to more than $500 million. The investment will accelerate the company’s growth plans. It will drive solutions that are innovative for those organizations, particularly for organizations like Meta and the Department of Defense.
Hammerspace was started by David Flynn and Rond Myklebust. At this company’s core is a mission to advance artificial intelligence (AI) programs by enabling organizations to quickly and efficiently tap into complex data landscapes. The beauty of the company’s file system is that it seamlessly organizes data from multiple sites. This allows their clients to minimize idle time and maximize their “time to value.” This newfound enabling capability is especially timely as organizations around the world discover how data underpins every organization’s AI strategy.
Hammerspace’s underlying technology is Linux-based, the most commonly-used operating system in the database arena. The system builds on the Linux kernel NFS client, a workhorse that supports many data systems. Significantly, Myklebust was the original developer of this NFS client and remains its chief maintainer at Hammerspace.
Flynn has a deep history with linux, supercomputers and flash computing. He’s led Hammerspace to be at the forefront of the lucrative AI market. His early work in flash technology has been instrumental in shaping the company’s breakthrough solutions that help organizations streamline their data management processes.
The recent surge in need for smart, diverse data solutions has only been intensified by the booming speed of AI advancement. Flynn underscored the dangerous and alarming nature of this trend. It’s created the perfect storm for what I’ve built, AI,” he said. He noted that a comprehensive data strategy should be the bedrock of any AI effort. As he proclaimed, “You don’t have an AI strategy without a data strategy.”
Hammerspace’s growth has primarily stemmed from word-of-mouth referrals, as satisfied clients share their positive experiences with the company’s systems. This intrinsic development is a testament to the increasing demand for agile and effective data management solutions in government, healthcare, and education technologies.
As organizations understand the role data plays in their AI strategy, Hammerspace’s solutions have never been more critical. Flynn underscored the highly competitive environment for AI development. He referred to this effort as “a sprint” in what he terms the “AI arms race.” Hammerspace arms organizations with resources that empower users to get the right data—faster. This strategic placing allows them to maintain an edge, even in today’s ever-changing and rapidly evolving landscape.
As Hammerspace prepares for a public offering, the leadership at Hammerspace is confident that better days are ahead. Flynn reiterated that Hammerspace has an eye toward going public. Nonetheless, that’s not the only way to use Hammerspace, and here’s where the fun starts. The recent funding round will help propel the company’s already notable growth and expansion into hyper-mode. This progress will put the company in a strong position as the transition begins in earnest.
Hammerspace is building momentum and bringing new use cases to bear to establish a leadership position in the emerging unstructured data management market. They are passionate about empowering enterprises to realize the true potential of AI through smart data strategies. With a strong technological base and deep understanding of market demand, Hammerspace has the makings of a strong success story.