Hammerspace Attracts $100M to Develop Cutting-Edge AI Data Solutions for Enterprises

Hammerspace, a deep-tech startup enabling seamless access to distributed data for AI workloads, has secured $100 million in a strategic venture round, bringing its valuation to over $500 million. The round includes backing from Altimeter Capital and ARK Invest, with additional participation from undisclosed strategic investors.

Founded by CEO David Flynn and CTO Trond Myklebust, Hammerspace offers a Linux-based file system that allows enterprises to unify and orchestrate unstructured data across fragmented cloud and on-prem environments. Its platform is used by customers including Meta and the U.S. Department of Defense.

Flynn said AI has created a “perfect storm” for the platform, adding, “The AI arms race is a sprint, and time-to-value is everything.” The company plans to expand its sales and marketing efforts as it scales.