Hammerspace announced that it has
achieved record-breaking 2024 results and business momentum with 10X revenue
growth and a 32% increase in the number of customers for the full-year ended
December 31, 2024. Hammerspace also posted strong customer retention and
account expansion metrics while growing its leadership position in new
geographies. The demands for high-performance data storage, global data access
and the paradigm of an orchestrated data world are driving rapid adoption.
“Hammerspace
has relentlessly innovated to eliminate the infrastructure barriers holding
back data users and machines like large language models, generative AI,
supercomputers and data analytics,” said David Flynn, Hammerspace CEO and
Co-founder. “The days of proprietary software locking data to the systems
that created it, risky and tedious manual data copies, and IT headaches caused
by proprietary client-side software are over. Our 10X revenue growth in 2024
reflects how our Global Data Platform and data orchestration capabilities are
redefining what’s possible ?
unifying fragmented, siloed data and enabling industries to
achieve unprecedented efficiency and innovation. The future of data isn’t just
orchestrated; it’s limitless.”
Two
seismic shifts are fueling unprecedented growth at Hammerspace and across the
industry: the rising need for cost- and power-efficient infrastructure to
support GPU computing at scale and the rapid adoption of hybrid cloud and
multi-data center architectures.
With
AI, Enterprise HPC and other data-intensive workloads increasing worldwide,
Hammerspace unveiled its Tier 0 capabilities and MLPerf’1.0 benchmark results
in November 2024. Tier 0, a new tier of ultra-fast shared storage that uses the
local NVMe storage in GPU servers as shared storage, is gaining traction
quickly. Designed to eliminate storage bottlenecks and maximize GPU
performance, Tier 0 transforms GPU computing infrastructure by improving
resource utilization and power efficiency while reducing AI storage
costs.
Exceptional
Customer Retention and Growth Efficiency
Hammerspace
posted notable customer satisfaction, retention and growth efficiency metrics,
with Gross Revenue Retention (GRR) > 95%, reflecting strong customer
satisfaction and retention strength, and Net Revenue Retention (NRR) > 330%,
highlighting growth efficiency and the company’s ability to grow organically
within its customer base. The outstanding GRR and NRR metrics are a testament
to the demand for users to consolidate workloads and data into a single data
platform, as well as the strength of the Hammerspace platform’s capabilities.
The
company also expanded its workforce by 75% in 2024, with the most significant
growth concentrated in its go-to-market and customer support teams.
2024
was a breakout year in market and use case expansion. Hammerspace customers
now span markets ranging from hyperscalers and supercomputing to government,
enterprise, and media and entertainment. A few notable new accounts in 2024
included Meta for Llama large language model training, the National Science
Foundation (NSF) and Department of Defense (DoD) for aggregating and analyzing
research data, and Mathematic Studio for visual effects design in multiple
global sites while completing production in France.
Meta’s
engineering team said in its ‘Building
Meta’s GenAI Infrastructure’ blog, “We have also partnered with Hammerspace to co-develop and land a parallel network
file system (NFS) deployment to meet the developer experience requirements for
this AI cluster. Among other benefits, Hammerspace enables engineers to perform
interactive debugging for jobs using thousands of GPUs as code changes are
immediately accessible to all nodes within the environment. When paired
together, the combination of our Tectonic distributed storage solution and
Hammerspace enable fast iteration velocity without compromising on scale.”
Industry
Recognition
Hammerspace’s
robust growth, leading technology innovation and market success have gained
significant customer and industry-wide recognition, making it the most highly
awarded unstructured data platform in 2024. Among its notable achievements in
2024 and recent accolades, the company’s awards and recognitions include:
- Data Breakthrough Award:
Data Storage Innovation of the Year - TechTarget Storage:
Data Storage and Management Tools Product of the Year – Gold - NAB Product of the Year:
Cloud Computing and Storage - Future of Memory and Storage:
Storage Management Software Best of Show - BigDATAwire:
Best Big Data Product – Storage - Coldago Research Map:
Leader in both Cloud File Storage and Unstructured Data Management
“Hammerspace
has been moving fast for the past few years and really shakes established
market positions thanks to David Flynn’s disruptive ideas,” said Philippe
Nicolas, Analyst and Founder, Coldago Research. “With global file services,
ubiquitous data access, parallel file I/Os, multi-protocols, multi-sites,
multi-clouds and key developments for AI-oriented workloads, the team has made
significant progress and won key deals that earned this recognition.”
Global and Management
Team Expansion
Hammerspace has jump-started 2025 by expanding its global footprint and hiring
Jeff Giannetti as Chief Revenue Officer to spearhead international growth. In
January 2025, Hammerspace launched operations in Asia, establishing resources
in China, South Korea, Japan, Singapore and India. Hammerspace is currently
scheduling meetings at the at the upcoming Supercomputing
Japan in Tokyo on February 3-4, 2025.
