IPO-chasing Hammerspace has reported 10x revenue growth and a 32% increase in the number of customers for the full-year ended 31 December, 2024.
The channel-first company makes the most out of storage and cloud resources to deliver a global file access system to companies and their workers.
"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 (pictured), 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.”
He said: “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."
Reflecting its scale-up, 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, which will be a boon to its channel efforts as it signs up new partners in new markets like Germany, for instance.
Hammerspace customers span markets ranging from hyperscalers and supercomputing to government, enterprise, and media and entertainment. Notable new accounts in 2024 included Meta for Llama large language model training, and the US National Science Foundation and the US Department of Defense for aggregating and analysing research data.
At this week’s IT Press Tour of Silicon Valley, the company’s new chief revenue officer, Jeff Giannetti, was presented to press and analysts. He recently left largescale data management rival WEKA, and told us he was looking forward to building up the Hammerspace partner network across its existing and expanding international footprint.
David Flynn set out the company’s roadmap towards an IPO last year, on a previous IT Press Tour of the Valley, and this latest set of results will go some way towards marking off business and market requirements as part of achieving that goal.
