We offer our view of Hammerspace because it is part of the total ARK Venture Fund portfolio. To see the most updated portfolio, please click here.
Hammerspace provides a global data environment (GDE) through which globally distributed developer teams can access and manipulate data as though stored locally. Even when data exist in a distributed cloud environment comprising varying storage types at different locations, Hammerspace’s shared metadata layer bridges storage vendor silos and enables a “data-centric” approach—an important improvement over the incumbents’ “storage-centric” approach that require copying and “forking” to distribute data. As a result, Hammerspace’s GDE enables increased data permanence as well as agile scaling and data sharing across an organization.
ARK estimates that hybrid work will proliferate and become more globally diverse; simultaneously, we believe artificial intelligence (AI) will continue to intensify data-driven activity and transform businesses operations overall. As a result, the ability to store, move, and manipulate large amounts of data would become increasingly important. Hammerspace can facilitate cost savings if IT spend increases in response to the proliferation of large datasets; we believe the company therefore is well-positioned to benefit from increasing demand for easier, faster, and less expensive access to distributed data.
David Flynn is Hammerspace’s co-founder and CEO. Previously Fusion-Io’s technical founder, CTO, and CEO until 2013, Mr. Flynn pioneered the use of flash storage in enterprise application acceleration, including selling over $1B in flash storage to Facebook.[1] He also has extensive experience as Chief-Architect at Linux Networx. Hammerspace’s other co-founder, Trond Myklebust, serves as the company’s CTO. He is a current Linux kernel maintainer and has previous experience as Principal Engineer at NetApp.
Hammerspace’s leadership team has a unique technical background, deep knowledge of data storage infrastructure, and business experience that, in the near-term, should enable it to maintain Hammerspace’s status as the only company offering a data orchestration service of its type. The team already has demonstrated that the company’s GDE product can reduce costs and ease data access for companies with multiple offices or storage types.
Disclosures
We offer our view of Hammerspace because it is part of the total ARK Venture Fund portfolio. To see the most updated portfolio, please click here. Holdings subject to change. Not a recommendation to buy, sell, or hold any specific security.
ARK Venture Fund is a closed-end interval fund. The fund is considered illiquid and there is no secondary market for investors to sell their shares.
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ARK Investment Management LLC is the investment adviser to the ARK Venture Fund.
Source: Hammerspace, 2023. https://hammerspace.com/david-flynn/
ARK’s statements are not an endorsement of any company or a recommendation to buy, sell or hold any security. ARK and its clients as well as its related persons may (but do not necessarily) have financial interests in securities or issuers that are discussed. Certain of the statements contained may be statements of future expectations and other forward-looking statements that are based on ARK’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in such statements.
