The education business run by Euan Blair, son of former prime minister Tony Blair, has joined the ranks of the UK’s unicorns after being valued at $1.7 billion (£1.36 billion) in its latest funding round.
Multiverse, an apprenticeship company, was founded in 2016 with the aim of matching people who have not been to university with jobs and training paid for by their employers.
The $220 million capital raise, which doubles Multiverse’s valuation from its previous round of funding, has come from StepStone Group, the US investment firm, and two previous investors: Lightspeed Venture Partners and General Catalyst. The money will be used to expand the business in the US and enhance the range of its tuition programmes.
