Major Funding for Big Data Firm Hammerspace

In California, unstructured data 'orchestration' firm Hammerspace has secured $56.7m funding in its first round of institutional investment. Money will go to expanding its technology and customer service teams and evolving its offer.

Hammerspace's Data Orchestration System allows teams within client enterprises to access, activate and monetize their data, including what it says is the 90% which is unstructured. Users can access the data via data center storage or public cloud services including AWS, Google Cloud, Microsoft Azure and Seagate Lyve Cloud.

The funding round was led by Prosperity7 Ventures and also includes Pier 88 Ventures and ARK Invest. CEO David Flynn comments: 'Hammerspace is uniquely positioned to accelerate the Next Data Cycle for enterprises through unstructured data orchestration. The last data cycle focused on structured data rooted in business intelligence, but this data cycle, driven by compute, orchestration and applications, leverages unstructured data to drive product innovation and business opportunity with AI, machine learning and analytics. Hammerspace's new funding will enable the company to help more customers unlock the value in unstructured data, create new revenue streams and drive operational efficiency'.

The firm is based in San Mateo and is online at www.hammerspace.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.