Multiverse, the London-based artificial intelligence and technology upskilling platform founded by Euan Blair, announced on Friday that it had raised $70 million in primary funding led by Schroders Capital, at a valuation of $2.1 billion. Existing investors including General Catalyst, Lightspeed, D1 Capital, Index Ventures, Bond, and StepStone Group also participated in the round.

A Strong Financial Trajectory

The new valuation represents a $400 million increase from the company's $1.7 billion Series D round in 2022. Multiverse reported that revenue grew 50% year-on-year for the third consecutive year of accelerating growth, and the company achieved its first cash-positive quarter for the period from January to March 2026. In conjunction with the funding round, all employees are being offered equity, signaling the company's commitment to shared success.

Euan Blair, who co-founded Multiverse in 2016 with the mission to create an alternative to traditional higher education through apprenticeships, has steered the company into the AI era. The platform now focuses on providing practical training in data science, software engineering, and AI skills, often through apprenticeships and coaching programs. The company's business model is built on delivering measurable return on investment for employers, with Multiverse claiming to have delivered more than £2 billion in verified ROI for over 1,000 employers to date, including Babcock, the AA, Capita, and Addison Lee.

Strategic Positioning as Europe's AI Adoption Platform

Rather than pitching a specific product, Multiverse is positioning the new funding round behind a broader category play. Blair stated on the company's blog that the firm aspires to become 'Europe's AI adoption platform', serving as the intermediary between businesses purchasing AI tools and the workforces expected to use them. In his framing, the missing layer of the AI stack is not another model or agent runtime, but rather a workforce capable of operating these technologies effectively.

This strategy is directly aimed at one of the most pressing challenges in enterprise AI adoption: the skills gap. According to a BCG AI Radar report cited by Multiverse, corporate AI spend has doubled over the past year, yet returns remain uneven. The report also found that 'trailblazer' adopters invest approximately twice as much in workforce upskilling as their 'follower' peers. CEOs surveyed by Multiverse identified skills gaps as the second-largest barrier to AI adoption, ranking only behind regulatory concerns and ahead of data quality issues.

Expansion in Europe Through Acquisition

The European push already has a solid foundation. In January, Multiverse completed the acquisition of StackFuel, a Berlin-based data and AI training provider with corporate customers including Mercedes-Benz, IAV, and Telefónica. StackFuel has a stated goal of training 100,000 German workers in AI skills and reports a 92% program completion rate. Its founders, Leo Marose and Stefan Berntheisel, have joined the senior leadership of the combined entity, bringing deep expertise in the German and broader European corporate training market.

The acquisition is part of Multiverse's broader strategy to expand its footprint across Europe. The company plans to use the new funding to accelerate this expansion, although it did not provide further geographic breakdowns. The move also taps into the growing demand for AI skills in key European economies, particularly in manufacturing, automotive, and financial services sectors where AI adoption is accelerating.

Platform Partnerships and Product Growth

Multiverse's AI coaching platform, Atlas, has seen significant traction. Daily active users tripled over the past year, reflecting increased engagement from learners and employers alike. The company has also strengthened its partnerships with major technology providers, now naming Microsoft, Palantir, and Databricks as platform partners. These collaborations allow Multiverse to integrate its training programs with the AI tools that enterprises are deploying, creating a more seamless learning and adoption experience.

At its core, Multiverse's approach is based on a contrasting thesis to some other voices in the enterprise AI conversation. For instance, companies like Klarna have frozen hiring, arguing that AI tools allow them to achieve more with fewer people. Multiverse, by contrast, is selling employers on the idea that the value of an AI deployment is determined by how well the existing workforce can operate and leverage these tools. The new round represents a $70 million bet that this latter perspective is the one enterprise buyers will be writing checks against in the coming years.

Political and Economic Context

The funding announcement also carries a political signal, particularly as British scale-ups increasingly seek government support and endorsement. Chancellor of the Exchequer Rachel Reeves provided a statement in which she expressed the UK government's ambition for Britain to achieve the fastest rate of AI adoption in the G7. She called Multiverse 'a fantastic example of a British company helping turn that ambition into reality,' and noted that the investment would 'support its expansion across Europe.'

This political backing highlights the growing importance of AI skills development as a national priority. The UK government has been actively exploring ways to boost productivity through technology adoption, and workforce upskilling is seen as a critical lever. Multiverse's model, which combines apprenticeship programs with AI training, aligns with government objectives to create high-quality jobs and improve digital literacy across the workforce.

Euan Blair, the son of former British Prime Minister Tony Blair, has built a career around challenging traditional education pathways. Before founding Multiverse, he worked as a consultant at McKinsey & Company and later co-founded a social enterprise focused on education. His background has informed the company's mission to provide accessible, practical skills training that meets the needs of both employers and employees. Under his leadership, Multiverse has grown from a small startup focused on apprenticeships to a major player in the corporate training space, with a valuation that places it among the most valuable edtech companies in Europe.

The Broader AI Skills Landscape

The skills gap in AI is a global phenomenon, but Europe faces particular challenges due to fragmented regulatory environments, varying levels of digital maturity across member states, and a shortage of specialized talent. Multiverse's strategy of acquiring local providers like StackFuel and partnering with global technology vendors aims to address these challenges at scale. The company's focus on measurable ROI also resonates with finance-oriented buyers who need to justify training expenditures to boards and investors.

While Multiverse did not disclose run-rate revenue or the names of the banks involved in the raise, the company's strong growth metrics and the quality of its investor base suggest confidence in its business model. The cash-positive quarter is particularly noteworthy, as many high-growth technology companies prioritize growth over profitability. Achieving cash positivity while maintaining 50% revenue growth indicates that Multiverse has found a sustainable path to scaling.

Looking ahead, Multiverse will need to navigate competition from other upskilling platforms, internal corporate training programs, and alternative credentialing providers. However, its unique positioning at the intersection of AI tools and workforce development, combined with its strong European presence and political support, gives it a significant advantage. The company's bet that enterprises will invest in their existing workforce rather than simply replacing workers with AI aligns with broader trends in responsible AI adoption and inclusive growth.

The $70 million raised will be used to accelerate European expansion, with Multiverse eyeing opportunities in markets such as Germany, France, and the Nordic countries. The acquisition of StackFuel has already provided a foothold in the DACH region, and further partnerships or acquisitions may follow. As AI adoption continues to accelerate across industries, the demand for effective upskilling solutions is only expected to grow, positioning Multiverse to capture a significant share of this market.

The company's approach also reflects a deeper understanding of how technology adoption works in practice. Rather than assuming that employees will self-learn or that AI tools are intuitive enough to be used without training, Multiverse emphasizes structured learning, coaching, and accountability. This has resulted in high completion rates and strong ROI for employers, which in turn drives further investment. As the company scales, maintaining these outcomes will be critical to its continued success.

In summary, Multiverse's latest funding round underscores the growing recognition that AI adoption is as much about people as it is about technology. By investing in workforce skills, the company is helping enterprises unlock the full potential of their AI investments while also creating new opportunities for employees to thrive in a rapidly changing economy. With a strong balance sheet, a clear strategy, and political backing, Multiverse is well-positioned to become a leading force in Europe's AI adoption journey.

Source: TNW | Investors-Funding News