Hammerspace, a data orchestration company, has raised $56.7 million in its first round of institutional investment. Led by Prosperity7 Ventures, the funding round also included participation from Pier 88 Ventures, ARK Invest, and others. Hammerspace aims to make unstructured data globally accessible, useful, and indispensable for enterprises.
With its Data Orchestration System, Hammerspace allows teams to access, activate, and monetize their data without disrupting user access. The funding will enable Hammerspace to help more customers unlock the value in unstructured data, create new revenue streams, and drive operational efficiency.
The rise of AI and machine learning technologies further emphasizes the importance of orchestrating unstructured data for businesses. By efficiently accessing and analyzing this data, organizations can gain actionable insights and transform their operations.
Hammerspace’s breakthrough technology addresses the challenge of file storage infrastructure that has not kept pace with AI advancements. The funding will support technology expansion and customer service, allowing Hammerspace to continue leading the unstructured data orchestration industry.