Multiverse, a UK-based startup tech company focused on high-quality education and training through a unique apprenticeship model, today announced the closing of a $44m Series B funding round to launch technology and leadership programs across the U.S.
The round, which was led by General Catalyst, also features GV (Google Ventures), and includes Audacious Ventures, Latitude and SemperVirens. Index Ventures and Lightspeed Venture Partners, who contributed to a $16m Series A investment last year, also participated in the round.
A new entrant to the US market, Multiverse provides driven individuals with apprenticeships – an expert-led period of training that takes place in-work and provides a more direct path than college to high demand digital, technology, and leadership careers.
Multiverse’s apprenticeships are paid for by employers and encourage individuals to put aside time-consuming, expensive degrees that fail to teach the skills needed for career success and suffer from a 40% dropout rate in the US.
Multiverse’s apprenticeships typically take 1.5 years and connect companies with individuals who otherwise may have not been on their radar due to socioeconomic disadvantages – furthering diversity in the workplace and closing the skills gap in minority communities.
In Europe, Multiverse has generated new talent pipelines for firms in high demand areas like digital, data, tech and leadership.
The company launched in New York this month with plans for nationwide expansion. In Europe, where it previously traded under the name WhiteHat, the firm has more than 300 clients including Facebook, Morgan Stanley, KPMG, Fujitsu, Capita, Kantar, Skanska, Citi and Microsoft. The company provides training across a range of qualifications including Digital Marketing, Project Management, Software Engineering and Data Analysis.
Euan Blair, founder and CEO of Multiverse said: ‘For a long time there’s been a belief that college, supplemented by sporadic corporate training, is the only route to success. This model is fundamentally broken – too often failing to give people the skills they need and not spreading opportunity fairly to the widest range of communities. So we’re building an outstanding alternative to both the college system, and to traditional corporate training. There are many different ways for people to be successful and we’re empowering people from diverse backgrounds to access the very best opportunities through apprenticeships as they embark on a successful and fulfilling career.
‘Through 2020, despite COVID-19, we added some of the world’s best companies as new clients and tripled our community of apprentices – in 2021 we’re ready to spread these opportunities even further.’
Joel Cutler, Managing Director and Co-founder of General Catalyst, said: “A four year degree should not be a prerequisite to reaching your fullest professional potential. Euan and his team at Multiverse are building a path for ambitious people to land quality, career-enhancing jobs at some of the most recognizable companies in the world. They’ve achieved so much already in the UK and we’re looking forward to partnering with them as they expand their mission stateside.”