Euan Blair’s Multiverse education startup raises $130m to become a ‘soonicorn’
Multiverse, the apprenticeships startup co-founded by Tony’ Blair’s eldest son Euan Blair, has edged closer to a unicorn valuation after closing a fresh $130m (£95m) US investor-led funding round.
In the largest EdTech (education tech) investment in the UK to date, the Series C fundraising round, which was led by US investment firms D1 Capital Partners and BOND, valued Multiverse at $875m.
It also brings the total amount raised by the startup to $194m.
It’s a sharp increase from the startup’s $200m valuation at its last $44m fundraise in January – the funds from which it used to expand into the US and opened a New York office.
Since Blair founded Multiverse in 2016, it has grown to train some 5000 apprentices at more than 300 companies, including Google Facebook and Morgan Stanley. The company has also increased its headcount to around 400.
As part of its onboarding for the apprenticeships, the startup has prioritised outreach and used what it calls a “bespoke matching platform” that has resulted in 53 per cent of its apprentices being people of colour and 36 per cent coming from under-resourced communities.
Of the apprentices Multiverse has placed in companies, 90 per cent remain in long-term employment going forward.
“Talent is everywhere but companies will only hire the best if they reach beyond traditional sources,” said Blair.
“Our apprenticeships allow employers to look beyond academic achievements and hire people based on the things that really matter: potential, character and performance,” he added.