Euan Blair's Multiverse hits $2.1bn valuation with $70M raise for AI workforce training push

Euan Blair Start-Up Secures Major Funding Round

Multiverse, the London-based edtech company founded by Euan Blair, has raised $70 million in a funding round led by Schroders Capital, valuing the company at $2.1 billion1

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. This marks a significant step up from its previous $1.7 billion valuation in 2022, when the company raised $220 million3

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. The round saw participation from existing investors including General Catalyst, Index Ventures, Lightspeed Venture Partners, D1 Capital Partners, Bond, and StepStone Group2

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The son of former British Prime Minister Sir Tony Blair, Euan Blair co-founded the company in 2016 under the name WhiteHat, focusing on apprentice training and placements3

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. To date, Multiverse has trained around 30,000 apprentices with major corporations including Microsoft, John Lewis, and M&S, and currently employs about 800 staff1

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AI Workforce Training Takes Center Stage

Multiverse is positioning itself as an AI adoption platform designed to bridge the critical gap between businesses purchasing AI tools and the workforces meant to operate them. "What's become clear very fast is that AI is the biggest threat, but also the biggest opportunity the workforce faces," Blair told the Financial Times. "This could either be the great jobs destroyer or it could be the great productivity enhancer. The only way we're going to tip the scales in favour of the productivity outcome is by training as many workers on the job as possible"1

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The company's thesis directly challenges the narrative promoted by companies like Klarna, which have frozen hiring on the argument that AI tools enable more work with fewer people. Instead, Multiverse argues that the value of an AI deployment depends on how effectively the existing workforce can operate it2

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. This approach addresses a pressing concern identified in CEO surveys, where skills gaps rank as the second-largest barrier to AI adoption, behind only regulation and ahead of data quality2

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European Expansion and StackFuel Acquisition

The new funding will accelerate European expansion, building on Multiverse's January 2025 acquisition of StackFuel, a Berlin-based data and AI training provider1

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. StackFuel brings corporate customers including Mercedes-Benz, IAV, and Telefónica, with a stated goal of training 100,000 German workers in AI skills and a reported 92% programme completion rate2

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. The acquisition's founders, Leo Marose and Stefan Berntheisel, joined Multiverse's senior leadership team2

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"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," said Blair. "This investment marks the moment Multiverse defines that category, and takes it across Europe"3

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Strong Growth Amid Profitability Push

Multiverse reported revenue of £79.6 million in the year ending March 2025, up from £58.4 million the previous year, representing 50% year-on-year growth for the third consecutive year of accelerating growth1

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. However, annual losses widened to £62.4 million from £60.9 million the year before1

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Blair indicated that hitting profitability is now a "near-term" focus, noting the company posted its first cash-positive quarter from January to March 2026. "We are not a million miles away from profitability, and you'll see that when our latest results get published... but that cannot come at the expense of growth and investing in our product and capabilities," he said1

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Atlas Platform and Corporate Partnerships Drive Adoption

Multiverse's AI coaching platform, Atlas, has tripled daily active users over the past year3

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. The company offers personalized upskilling programs to support technological adoption, and has delivered more than £2 billion in verified ROI for over 1,000 employers, including Babcock, the AA, Capita, and Addison Lee2

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Partnerships have expanded to include Microsoft, Palantir, and Databricks as platform partners2

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. The company is capitalizing on a familiar enterprise complaint: while AI budgets have doubled according to BCG's 2026 AI Radar, AI returns remain uneven. The research shows that 'trailblazer' adopters invest about twice as much in workforce upskilling as 'follower' peers2

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Focus on Frontline Workers

Multiverse has faced criticism over completion rates, with Department for Education figures showing a 52.6% completion rate for Multiverse schemes in 2024/25, below the sector average of 65.4%1

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. Blair defended this by emphasizing the company's focus on frontline workers such as nurses and warehouse workers rather than executives. "Realistically, there are barriers to sometimes convincing some of those people that they are the people who will be worst affected if we do not get this right," he added1

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The fundraise will give all Multiverse employees equity in the company1

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. Blair said the company is not currently considering a listing, though he noted "this is a company which can and should be public, but we are not looking to do that in the near term"1

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. UK Chancellor Rachel Reeves endorsed the raise, stating that Multiverse is "a fantastic example of a British company" helping achieve the UK government's ambition for the fastest rate of AI adoption in the G73

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