Hammerspace, a company focused on orchestrating data across global environments, has reported a tenfold increase in revenue for 2024 along with a 32 percent rise in customer numbers. The company also noted strong customer retention and expansion, along with geographic growth, driven by demand for high-performance data storage and global data access. The platform also recorded over 95 percent Gross Revenue Retention (GRR) and more than 330 percent Net Revenue Retention (NRR), indicating strong customer retention and expansion.
In 2024, Hammerspace expanded its workforce by 75 percent, primarily in sales and customer support roles. The company also added customers across hyperscale, supercomputing, government, enterprise, and media sectors. Notable deals included Meta for its Llama large language model training, the National Science Foundation and the Department of Defense for research data aggregation, and Mathematic Studio for distributed visual effects production.
CEO and co-founder David Flynn attributed the company’s growth to its Global Data Platform and data orchestration capabilities. “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,” Flynn said. “Our 10X revenue growth in 2024 reflects how our Global Data Platform and data orchestration capabilities are redefining what’s possible.”
Hammerspace cites two main drivers behind its expansion: the increasing need for cost- and power-efficient infrastructure to support large-scale GPU computing, and the adoption of hybrid cloud and multi-data center architectures.
The company launched its Tier 0 storage architecture in November 2024, a high-performance shared storage tier using local NVMe storage in GPU servers. According to Hammerspace, Tier 0 is designed to eliminate storage bottlenecks, optimize GPU performance, and reduce AI storage costs.
Looking ahead, Hammerspace has expanded its international presence with operations in China, South Korea, Japan, Singapore, and India. The company has also appointed Jeff Giannetti as Chief Revenue Officer to drive international growth and will be attending Supercomputing Japan in Tokyo on February 3-4, 2025.
