Hammerspace has reported that it has grown its business, with revenue up 300 percent for fiscal 2022 over 2021, although the private company hasn’t released any numbers.
The company’s Global Data Environment (GDE) links distributed offices in a single unstructured data namespace and provides fast access to file data when needed, ensuring that changes in one office are synced to all the others. Data can be stored on-premises or in the public clouds and the unified picture is provided by GDE’s metadata structures. Users can access files from servers, across datacenters and global internet links, and Hammerspace has increased access speed with parallel NFS, RDMA, and metadata and data path separation included in GDE v5.0.
Chris Bowen, SVP of Global Sales at Hammerspace, said in a statement: “We are excited to celebrate Q4 FY22 as the best quarter in company history. A significant 42 percent of our Q4 bookings sales came from expansion business with existing customers. Our customers are rapidly deploying Hammerspace into new workflows as well as adding additional data from existing workloads.”
Hammerspace hired sales and marketing execs from mid 2021 onward and sales in 2022 were made to customers such as Jelly Fish Pictures. It signed a reseller deal with AMPD Ventures and set up a partnership with Seagate’s Lyve Cloud as it built out a channel. Now it’s trumpeting the progress it has made in getting its product to market in its fiscal 2022:
- 300 percent year-over-year growth
- 400 percent increase in mature pipeline
- Grew the team by over 50 percent, investing in customer experience and accelerating the introduction of new customer-requested features
- New deployments in a wide range of markets: enterprise, service providers, private rocket, aerospace manufacturer, sub-orbital space services, online gaming, telecommunications, media and entertainment, HPC, federal government and more – at least 10 market areas
- Opened EMEA offices based in the UK
- Opened US Federal Division
- Launched Partnerspace channel program and added distribution partners, Climb Channel Solutions and Titan Data Solutions
- Expanded strategic alliances with Seagate Technologies, HP and Autodesk
- Recognized by Gartner in “Hype Cycle for Storage and Data Protection Technologies”
- Awarded TVTech Best of Show award at the International Broadcasting Convention (IBC)
A revenue growth chart was shown at a briefing:
In late January Kona Equity calculated Hammerspace annual revenues to be $2.77 million.
A Hammerspace spokesperson said: “Hammerspace is not releasing actual numbers as a private company but what this chart conveys is that while Hammerspace was selling product based on individual capabilities (aka standalone Kubernetes storage or to solve a data management need), the growth in bookings and pipeline massively accelerated when we pulled all of this individual capabilities into a single global file system. Customers need data access and management unified. We would have done “ok” selling standalone solutions for storage or data management or cloud caching, etc. like the rest of the industry but the magic of Hammerspace is a single data architecture and unified data services to meet all of their data needs.”
One new customers is Mathematic Studio, an entertainment and media company with offices in Montreal, Paris and Los Angeles.
We would expect the revenue growth rate to accelerate as the new sales channels start bringing in new business.
David Flynn, Hammerspace’s founder and CEO, said: “We will continue to invest in making data access to the end user and performance demanding remote applications simple, reliable and secure. We plan to continually invest in the customer support team while expanding our global go-to-market reach.”