Multiverse (company)
| Company type | Private |
|---|---|
| Industry | Artificial intelligence, educational technology |
| Founded | 2016 |
| Headquarters | London, United Kingdom |
Key people | Euan Blair |
| Website | https://www.multiverse.io/ |
Multiverse is a British educational technology company founded in 2016 by Euan Blair and Sophie Adelman.[1] Based in London, United Kingdom, the company provides a platform for companies to recruit school leavers through apprenticeships.[1]
History
[edit]Multiverse was founded in 2016 by friends Euan Blair and Sophie Adelman under the name WhiteHat, which was named after the hackers employed by companies to test their IT security.[1][2] The company rebranded to Multiverse in 2011.[1]
In 2018, the company announced it had raised £3 million ($4 million) of seed investment from Lightspeed Venture Partners.[3]
In 2021, Adelman stepped back from the company but retained a seat on its board and a shareholding.[4] In September of that year, Multiverse raised £97 million ($130 million) from multiple investors including D1 Capital Partners and BOND.[5]
In June 2022, Multiverse raised £163 million ($220 million) of investment which valued the company at £1.2 billion ($1.7 billion).[6] The company received investment from investors including Lightspeed Venture Partners, General Catalyst, StepStone Group and Founders Circle Capital.[6][7] The fundraise gave the company 'unicorn’ status.[8][9] In the same month, the company appointed Youngme Moon as a non-executive director.[9]
In 2022, the company reported a loss of £10.9 million to 31 March 2021 on revenues of £10.1 million.[10] In September 2022, the company was granted a license to award degrees with all learning taught through apprenticeships rather than through university.[11]
In 2023, it was reported that Multiverse received an investment by the Walton family.[12]
In April 2024, Multiverse acquired SearchLight, a US recruitment software company.[13] In the announcement, Blair said the acquisition will 'combine Multiverse's scale with Searchlight’s technology'.[14]
In November 2024, the company appointed Martha Lane Fox as a non-executive director.[15]
In March 2025, the company reported revenues of £58.4 million to March 2024 and losses of £60.6 million.[16]
Operations
[edit]As of November 2024, the company employed 800 people.[17] According to the company, it has worked with more than 1,500 companies and placed more than 22,000 people into apprenticeships.[18]
References
[edit]- ^ a b c d Walker, Esther (21 January 2021). "Euan Blair, the prime minister's son who got labour working". www.thetimes.com. Retrieved 3 June 2025.
- ^ Hunt, Simon (9 June 2022). "Blair's son on way to billionaire status as firm worth £1.35 billion". The Standard. Retrieved 3 June 2025.
- ^ "WhiteHat announces Seed Funding Round". www.multiverse.io. 3 September 2018. Retrieved 3 June 2025.
- ^ Tyler, Richard (13 July 2022). "Multiverse co-founder launches The Garden, a 'people's university'". www.thetimes.com. Retrieved 3 June 2025.
- ^ Lunden, Ingrid (28 September 2021). "Multiverse, the tech-focused apprenticeship startup, nabs $130M at an $875M valuation". TechCrunch. Retrieved 3 June 2025.
- ^ a b Martin, Iain. "Apprenticeship Startup Multiverse Raises $220 Million To Solve Tech's Talent Shortage". Forbes. Retrieved 3 June 2025.
- ^ Lunden, Ingrid (8 June 2022). "Multiverse nabs $220M at a $1.7B valuation to expand its tech apprenticeship platform". TechCrunch. Retrieved 3 June 2025.
- ^ "Multiverse raises $220m and becomes Europe's latest edtech unicorn". Sifted. Retrieved 3 June 2025.
- ^ a b Thomas, Daniel (8 June 2022). "Euan Blair start-up valued at more than $1.7bn". Financial Times. Retrieved 3 June 2025.
- ^ Prescott, Katie (8 June 2022). "Euan Blair's apprenticeship firm Multiverse valued at £1.4bn". www.thetimes.com. Retrieved 3 June 2025.
- ^ Dugan, Emily (1 September 2022). "Euan Blair apprenticeship firm gets licence to award degrees". The Guardian. ISSN 0261-3077. Retrieved 3 June 2025.
- ^ Field, Matthew (2 April 2023). "Tony Blair's son wins backing of America's richest family". The Telegraph. ISSN 0307-1235. Retrieved 3 June 2025.
- ^ "Multiverse snaps up US-based AI software company Searchlight". City AM. 9 April 2024. Retrieved 3 June 2025.
- ^ Lunden, Ingrid (8 April 2024). "Multiverse, the apprenticeship unicorn, acquires Searchlight to put a focus on AI". TechCrunch. Retrieved 3 June 2025.
- ^ "Multiverse Strengthens Leadership Team with Baroness Lane Fox and New CFO Jillian Gillespie". EdTech Innovation Hub. Retrieved 3 June 2025.
- ^ Hurley, James (28 March 2025). "Sales rise at Euan Blair's Multiverse but losses grow to £60m". www.thetimes.com. Retrieved 3 June 2025.
- ^ Armitage, Jim (10 November 2024). "Euan Blair on his $2bn business, AI and apprenticeships". www.thetimes.com. Retrieved 3 June 2025.
- ^ "Multiverse apprenticeships". www.multiverse.io. Retrieved 3 June 2025.