Apprenticeship training and edtech firm Multiverse has said it’s on track to grow despite reporting financial losses for the sixth consecutive year.
Accounts for the company’s 2021/22 financial year, published this week, reveal that Multiverse made a £14.2 million loss despite its turnover nearly tripling from £10 million in 2020/21 to £27.2 million in 2021/22.
This follows net losses of £10.9 million in 2020/21 and £5 million in 2019/20.
Multiverse hit the headlines in 2022 by becoming the first UK based company to gain ‘unicorn’ status, which is awarded to edtech companies valued over $1 billion, following a drive for investment in the United States which raised £176 million. The company’s valuation at the time was a staggering £1.4 billion.
