Hammerspace, the company orchestrating the next data cycle, 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.
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:
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.
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Hammerspace Achieves 10x Revenue Growth in 2024 Fueled by AI Storage and Hybrid Cloud Computing Demand
Hammerspace, the company orchestrating the next data cycle, 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.
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:
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.
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This entry was posted on January 28, 2025 at 9:20 am and is filed under Commentary with tags Hammerspace. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.