Multiverse

Founded by Tony Blair’s son Euan Blair as WhiteHat in 2016, Multiverse (formerly Whitehat until January 2021) is a talent accelerator offering an apprentice training, networking, and matching platform. The company matches non-graduate talent with apprenticeship opportunities in professional services and digital roles in UK companies. In partnership with content providers, the company delivers job-relevant training on a one-on-one basis using technology-based tools over the course of an apprenticeship as an alternative to university education. Participants also join an online and offline community of other apprentices. In addition, WhiteHat upskills existing employees to bridge skill gaps.

Key customers and partnerships

In March 2021, Multiverse partnered with New College of the Humanities (NCH) to launch a degree-level apprenticeship. The Advanced Data Fellowship allows apprentices to develop their data analysis and data science skills to add value at their workplace. In June 2022, the company reported that it had trained more than 8,000 apprentices via partnerships with 500 companies.  

Funding and financials

In June 2022, the company raised GBP 176 million (USD 220 million) in a Series D funding round co-led by StepStone Group, and previous investors Lightspeed Venture Partners and General Catalyst, with a valuation of USD 1.7 billion. It planned to use the funds to scale its US expansion.

In FY2022, Multiverse reported a YoY revenue growth of 3x to GBP 27.3 million. The UK operations accounted for 95% of the total revenue and the US operations contributed the balance. The company reported its 6th consecutive year of losses, with net losses rising 30% YoY to GBP 14.2 million due to a rise in administrative spending.