London-headquartered apprenticeships provider Multiverse has closed a $130 million Series C funding round led by D1 Capital Partners and Bond, bringing total funding for the tech start-up up to $194 million.
In January Multiverse closed a $44 million Series B led by General Catalyst, which was used to expand into the US and the company is now training professional apprentices with organisations including Google, ClassPass and Adyen. Multiverse also has more than 300 clients in the UK including Facebook, Morgan Stanley and the NHS.
The company has also opened a US headquarters in New York City.
Multiverse’s founder and chief executive Euan Blair said: “We have spent the last few years building a truly outstanding alternative to university and to corporate training, and this latest funding round is recognition of how far this cause has come. Professional apprenticeships are transforming the opportunities available to people in the UK and now in the US – we’ve seen a range of the world’s best employers grow their programmes significantly over the last year.
“Employers are all asking a similar question: how do we access the best talent and the skills we need, and make sure the opportunities created in the post-Covid recovery are spread more equitably? Talent is everywhere but companies will only hire the best if they reach beyond traditional sources. Our apprenticeships allow employers to look beyond academic achievements and hire and develop people based on the things that really matter: potential, character and performance. They are simply the best way to equip people with the skills employers need today.”
Jeremy Goldstein of D1 Capital Partners commented: “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.”
Ken Chenault, chairman and managing director of General Catalyst, and co-founder of OneTen, said: “Apprenticeships are an innovative pathway to family sustaining jobs. Multiverse has the team, the model, and the vision to make the promise of professional, modern apprenticeships a reality while creating greater access to opportunity.”
Date published: 29 September 2021