Euan Blair’s Multiverse has raised £70m in fresh funding, as it looks to expand across Europe and take a chunk of the enterprise AI training market.
The funding round in the edtech, which originally specialised in digital apprenticeships at tech firms, was led by new investor Schroders Capital. Existing investors, including General Catalyst, Lightspeed, D1 Capital Partners, Index Ventures, Bond, and StepStone group also participated. It raised the funding at a $2.1bn valuation, a $400m increase on its last funding round in 2022.
Multiverse, founded by Blair, the son of former UK prime minister Tony Blair in 2016, has raised around $570m in total. Multiverse, which has mainly focused on the UK market, said the new funds would be used to expand across Europe, as it looks to offer AI training services and capitalise on enterprise adoption of AI. The edtech has moved into the German market following its acquisition of Berlin-based data and AI training company StackFuel in January this year.
It said its goal was to ensure that AI benefits the workforce, rather than displacing it. It said the last year has seen it focus on strategic tie-ups, with the likes of Palantir and Databricks.
Blair said: “There are companies who desperately need the benefits AI can bring. There are AI companies. What has been missing is the layer that bridges the two.
