Data orchestrator Hammerspace has ingested $100 million in funding to accelerate its global expansion.
Up until two years ago, Hammerspace, founded in 2018, was financed by founder and CEO David Flynn along with cash from a group of high net worth individuals, and long-term investing sources. It raised $56.7 million in an A-round in 2023, saying it planned to expand its sales and marketing business infrastructure. Now it has raised another $100 million as it races to capitalize on anticipated demand for AI, with customers demanding widespread, rapid access to data – a challenge Hammerspace says it can solve through orchestration.
Flynn stated: ‘AI isn’t waiting. The race isn’t just about raw throughput – it’s about how fast you can deploy, move data, and put your infrastructure to work. Every delay is unrealized potential and wasted investment. We built Hammerspace to eliminate friction, compress time-to-results, and significantly increase GPU utilization. That’s how our customers win.”
In June last year, Flynn was looking forward to Hammerspace becoming cash flow-positive and thinking about a possible IPO in the next 18 to 24 months. He said: “We are building a very financially disciplined company, but we are reaching a point where we have to grow a lot faster to get in front of the opportunities being created by AI.” But he cautioned: “It’s a tough market for an IPO right now, with budgets going down in some areas, and Nvidia sucking the air from everybody else at the moment. It was a tough time to envisage an IPO as Nvidia was so dominant in AI.”
Ten months later, Nvidia’s dominance has only grown, the AI surge continues, and unpredictable tariff shifts have made short-term business planning increasingly difficult. Hammerspace has decided to go for AI-fueled growth and needs fresh funding to achieve it.
This B-round was led by Altimeter Capital with participation from Cathie Wood’s ARK Invest, and a combination of new and existing investors. ARK is an existing investor, having participated in the 2023 A-round.
These investors have bought into Flynn’s view that the AI wave needs a unified data infrastructure that allows AI agents to query and process as much of an organization’s information assets as possible. That means the organization must have complete visibility and control over its data estate – regardless of protocol or location – all accessible through a single pane of glass. This is Hammerspace’s Global Data Environment.
Flynn said: “We didn’t build orchestration for the sake of it. We orchestrate data to the GPU faster regardless of where it is physically stored. We instantly assimilate data from third-party storage so it’s ready to process faster. We deploy and scale easily and quickly so our customers can achieve their business outcomes faster.
We expect storage vendors like Arcitecta, Dell, DDN, NetApp, Pure Storage, VAST Data, and WEKA to vigorously challenge Hammerspace and fight hard for the enterprise AI data infrastructure business.
