Tech-focused Apprenticeship Startup Multiverse Raises $130M at $875M Valuation
Multiverse, a UK-based online jobs portal for apprenticeship seekers, has raised $130 million in its Series C funding round led by D1 Capital Partners and BOND.
The funding round valued the company at around $875 million, more than four times the company’s estimated valuation in January.
The fresh funding is going to be used to continue its expansion, both in its home market and the US.
Multiverse focuses on apprenticeships, which combine paid work with training and can remove financial barriers to job entry. The platform offers corporate training, resume matching, and networking via social media to candidates.
Co-founded by the oldest son of former British Prime Minister Tony Blair in 2016, Multiverse mission is to create a diverse group of future leaders. To achieve this, the company provides high-quality apprenticeship programs that combine work, training, and community. Since its inception, the startup has grown across the UK, has trained over 5,000, apprentices in partnership with more than 200 of the world’s best employers. The startup also focuses on the skills of the future, with programs ranging from business operations to data science and software engineering.
Speaking about the latest development, Co-founders of Multiverse said in a statement,
“We want to build an outstanding alternative to university and college. Even the name speaks to how the people it targets do not typically fit into the traditional categories of candidates. There are “multiple universes” one can inhabit as a post-18 young adult.”
The platform matches diverse, young talent with apprenticeship roles and existing employees with just the right upskilling opportunities.
Jeremy Goldstein, D1 Capital Partners, said in a statement,
“We believe Multiverse is expanding access to wage-growth and social mobility for employees from a broad range of backgrounds while creating substantial value for employers. We are excited to invest and help Multiverse scale its model globally.”
The company claims that over 50 percent of apprentices hired by Multiverse are from underrepresented ethnic backgrounds, 53 percent are women and a third come from the UK’s most deprived postcodes.
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