Multiverse raises USD $70m to expand AI training in Europe

Multiverse has raised USD $70 million in strategic funding, valuing the company at USD $2.1 billion.

Schroders Capital led the round, with existing backers General Catalyst, Lightspeed Venture Partners, D1 Capital Partners, Index Ventures, Bond and StepStone Group also participating. The valuation is USD $400 million higher than in its previous round.

The London-based business sells training and workforce development programmes focused on artificial intelligence, data and digital skills. The new funding will support expansion across Europe as companies look for ways to put AI tools into day-to-day use.

Recent trading figures suggest the business is still growing quickly. Revenue rose 50% year on year in its last financial year, marking a third straight year of faster growth, and Multiverse recorded its first cash-positive quarter from January to March.

The company has also been widening its footprint through acquisitions. In January, it bought Berlin-based data and AI training company StackFuel, giving it a presence in Germany as it pursues the broader European market.

AI adoption

Multiverse argues that the main obstacle to wider AI use in large organisations is not access to software, but a shortage of workforce skills. Its business is built around assessing skills gaps inside companies and matching training programmes to business goals, with the aim of helping employers extract value from technology spending.

That pitch comes as companies across Britain and Europe increase AI budgets while still struggling to show productivity gains. Multiverse says it has worked with more than 1,000 employers and delivered more than GBP £2 billion in verified return on investment for customers including Babcock, The AA, Capita and Addison Lee.

Use of Atlas, its AI coaching platform, tripled on a daily active user basis over the past year. The company also pointed to partnerships with Microsoft, Palantir and Databricks as part of its recent expansion.

In connection with the funding round, all employees were offered equity regardless of seniority. The move gives staff a longer-term stake in the business as it pushes for further growth.

Chief Executive Officer and Founder Euan Blair said the company saw a gap between AI developers and employers trying to use the technology in practical settings.

"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. Getting outcomes from AI and unlocking productivity is not just a technology problem. It is a people problem. We exist to solve it."

The funding also drew support from government. Rachel Reeves, Chancellor of the Exchequer, linked the deal to broader efforts to increase AI use across the British economy.

"We want Britain to achieve the fastest rate of AI adoption of any country in the G7 - the productivity dividend we can get from AI will grow businesses of all shapes and sizes in the UK and ensure they stay competitive," said Reeves. "Multiverse is a fantastic example of a British company helping turn that ambition into reality. This investment will support its expansion across Europe, strengthening a UK firm that is competing globally and equipping people with the skills to make AI work in practice."

For Schroders Capital, the investment reflects a bet that demand for workforce training tied to AI deployment will rise as companies move beyond experimentation. The firm sees Multiverse as well placed to serve employers that want to train staff rather than rely solely on new software purchases.

"The evolution of AI is creating transformative opportunities to drive productivity and growth across global economies," said Michael Mclean, Head of Private Equity Technology Investments at Schroders Capital. "Multiverse is a leader in enabling this shift, helping organisations capitalise on these tailwinds. With growing momentum across Europe, Multiverse puts the focus on AI adoption, enabling employers to upskill their workforces and translate technology investment into tangible outcomes.

"High-quality businesses with the potential for transformative, sustainable growth and value creation are key fundamentals we look for. We're therefore delighted to have led this significant fundraise as Multiverse further accelerates its growth journey."

Customers cited the company's role in practical AI and data training inside large organisations. "Our work with Multiverse has supported The AA's AI transformation, bridging the gap between new technology and the talent needed to harness it. Multiverse has enabled skills development in areas such as data and AI, and we have seen positive engagement from colleagues participating in the programmes," said Louise Benford, Chief People Officer at The AA.