Hammerspace Achieves Strong Retention and Growth Amid Rising AI Demand

SAN MATEO, Calif., Jan. 28, 2025 — Hammerspace today 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.

“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 upcoming Supercomputing Japan in Tokyo on February 3-4, 2025.

About Hammerspace

Hammerspace is radically changing how unstructured data is used and preserved. Our Global Data Platform unifies unstructured data across edge, data centers, and clouds. It provides extreme parallel performance for AI, GPUs, and high-speed data analytics, and orchestrates data to any location and any storage system. This eliminates data silos and makes data an instantly accessible resource for users, applications, and compute clusters, no matter where they are located.

Source: Hammerspace