Hammerspace Valuation, Funding & Investors

Hammerspace is valued at $500M as of April 2025.

Last Hammerspace valuation

$500M

Series B · Apr 2025

Last Hammerspace funding round

$100M

Series B · Apr 2025

Cumulative funding Hammerspace raised

$157M

across 2 funding rounds

Key investors in Hammerspace

  • ARK Investment Management
  • Alumni Ventures
  • Altimeter Capital
  • Prosperity7 Ventures
  • ICU Ventures
  • Pier 88 Investment Partners

Hammerspace Overview

About Hammerspace

Hammerspace is a San Francisco-headquartered data orchestration platform unifying file systems across hybrid clouds. Founded in 2018, it deploys the Global Data Environment on-premises with AWS, Azure, and Google Cloud for media, life sciences, and HPC workloads. Hammerspace enables NVMe performance over Ethernet for 100 petabyte-scale repositories without data migration.


Founded

2018

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$500M (Apr 2025)

Hammerspace Valuation

Hammerspace is currently valued at $500M, based on its Series B in April 2025.

The $100M round was led by Altimeter Capital, Alumni Ventures and ARK Investment Management.

Hammerspace valuation by funding round

Hammerspace valuation by funding round
DateStageValuation
Apr 2025Series B$500M

Hammerspace Funding History

Hammerspace has raised a total of $157M across 2 funding rounds.

Hammerspace's first fundraising round was a $57M Series A in July 2023. The most recent completed round was a $100M Series B in April 2025.

Hammerspace funding rounds

Hammerspace funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Apr 2025Series BAltimeter Capital (lead); Alumni Ventures (lead); ARK Investment Management (lead)$100M$500MHammerspace provides a platform for orchestrating unstructured data across hybrid cloud and multi-data center environments, enabling high-performance access for AI workloads, GPU computing, and global data mobility without silos. Customers include Meta for Llama model training, Department of Defense, National Science Foundation, and media firms like Mathematic Studio. The company achieved 10x revenue growth in 2024, with gross revenue retention over 95% and net revenue retention over 330%, alongside a 32% customer increase and 75% workforce expansion focused on sales and support. On April 16, 2025, Hammerspace raised $100 million in a strategic Series B round led by Altimeter Capital, with participation from ARK Investment Management, Alumni Ventures, and other undisclosed strategic investors, valuing the company at over $500 million post-money. This follows a $56-57 million Series A in 2023 from Prosperity7 Ventures, ARK, and others, bringing total funding to approximately $157 million. Previously self-funded by CEO David Flynn, known for innovations in Linux, supercomputers, and flash storage. Funds will expand go-to-market efforts, sales, and marketing to capitalize on AI-driven demand for efficient data infrastructure amid GPU scaling and hybrid cloud adoption. CEO David Flynn emphasized accelerating growth for large enterprise sales, all channeled indirectly like VMware, with 1,000% sales growth in 2024 and potential IPO soon due to rapid scaling. The round reflects ecosystem investment in AI data strategies, with Hammerspace positioning as a key enabler for data orchestration.
Jul 2023Series AProsperity7 Ventures (lead); ICU Ventures; ARK Investment Management; Pier 88 Investment Partners$57M-Hammerspace raised $56.7 million in July 2023, led by Prosperity7 Ventures with participation from ARK Investment Management, Pier 88 Investment Partners, and others, marking its first institutional funding since launching in 2018. The data orchestration platform enables management of multi-cloud and on-premises storage via a global file system, reducing data copies, with features for compression, deduplication, encryption, and access controls. Customers at the time included Blue Origin, National Science Foundation, and Royal Caribbean Cruises. Funds were allocated to enhance platform features and expand customer service teams to unlock value in unstructured data for AI, ML, and analytics. The company was previously self-funded by CEO David Flynn. Later, in 2024, Hammerspace reported 10x revenue growth year-over-year, a 32% customer base increase, Gross Revenue Retention over 95%, and Net Revenue Retention over 330%, with expansions into new geographies like Germany, Middle East, India, and Asia operations in China, South Korea, Japan, Singapore. Key 2024 wins included Meta for Llama model training on Nvidia H100 GPU clusters, NSF, DoD, and Mathematic Studio. Workforce grew 75% in 2024, focused on go-to-market and support, alongside hiring Jeff Gianetti as chief revenue officer. In April 2025, Hammerspace raised $100 million in a strategic venture round valuing it over $500 million, backed by Altimeter Capital, ARK Invest, and undisclosed strategics. The platform supports AI-driven high-performance data storage, global access, and hybrid cloud/multi-data center architectures, serving hyperscalers, supercomputing, government, enterprise, and media/entertainment.

Who has invested in Hammerspace?

6 investors have backed Hammerspace across its funding rounds, including ARK Investment Management, Alumni Ventures, Altimeter Capital, Prosperity7 Ventures, ICU Ventures and Pier 88 Investment Partners.

Lead investors include Altimeter Capital, Alumni Ventures, ARK Investment Management and Prosperity7 Ventures.


Hammerspace Investors

Investors in Hammerspace by funding rounds participated
InvestorHQRoundsRoleFirst check
ARK Investment ManagementUnited StatesNew York City, NY2LeadJul 2023
ICU VenturesUkraineKyiv1ParticipantJul 2023
Prosperity7 VenturesSaudi ArabiaDammam1LeadJul 2023
Altimeter CapitalUnited StatesSan Francisco, CA1LeadApr 2025

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Acquisitions by Hammerspace

Hammerspace has acquired 1 company to date.

Last acquisition by Hammerspace was on May 11th 2023. Hammerspace acquired Rozo Systems for undisclosed valuation.


Latest Acquisitions by Hammerspace

Rozo Systems
Description
-
HQ CountryUnited States
HQ City
-
Deal Date11 May 2023
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Hammerspace Competitors

Hammerspace competitors include listed companies like Napatech and Kinx, and private ones like CECloud, MotherDuck, XSKY Data Technology and Opaque Systems.

Public and private companies comparable to Hammerspace
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CECloudChinaBeijingPrivate--$442M-
MotherDuckUnited StatesUnited StatesPrivate--$400M-
XSKY Data TechnologyChinaBeijingPrivate--$675M-
Opaque SystemsUnited StatesSan Francisco, CAPrivate--$300M-
NapatechDenmarkDenmarkPublicly listed$23M($10M)$495M15.4x
KinxSouth KoreaSouth KoreaPublicly listed$116M$37M$487M4.6x

Hammerspace Public Comps

Hammerspace is still privately-owned, but its public comps include Napatech, Kinx, Edarat Group, Locaweb, Plus Alpha Consulting, Baudroie, BTQ Technologies, Zhongfu Information, GABIA and Proact IT Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Napatech$23M($10M)21.5x15.4x(50.5x)(102.7x)
Kinx$116M$37M4.5x4.6x14.1x15.6x
Edarat Group$51M$12M10.6x-44.5x-
Locaweb$289M($31M)1.4x1.3x(12.8x)5.4x
Plus Alpha Consulting$110M$36M4.2x3.8x12.9x9.4x
Baudroie$112M$24M5.2x4.3x24.7x21.0x
BTQ Technologies$226K($18M)1720.6x266.9x(21.8x)-
Zhongfu Information$108M$1M3.4x2.7x359.0x-

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Common questions about Hammerspace

When was Hammerspace founded?Hammerspace was founded in 2018.
Where is Hammerspace headquartered?Hammerspace is headquartered in San Francisco, CA, United States.
Is Hammerspace publicly listed?No, Hammerspace is a private, VC-backed company.
What is Hammerspace's valuation?Hammerspace was last valued at $500M in its Series B in April 2025.
How much funding has Hammerspace raised?Hammerspace has raised $157M across 2 funding rounds.
What was Hammerspace's last funding round?Hammerspace's last funding round was a $100M Series B in April 2025, led by Altimeter Capital, Alumni Ventures and ARK Investment Management.
Who are Hammerspace's investors?Hammerspace's investors include ARK Investment Management, ICU Ventures, Prosperity7 Ventures, Altimeter Capital, Alumni Ventures and Pier 88 Investment Partners.
Which companies are comparable to Hammerspace?Companies comparable to Hammerspace include CECloud, MotherDuck, XSKY Data Technology, Opaque Systems, Napatech and Kinx.
How many companies has Hammerspace acquired?Hammerspace has acquired 1 company, including Rozo Systems.

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