Euan Blair’s Multiverse Will Evolve in New York With $220 Million Investment

The central idea of ​​the startup is to simultaneously solve a pair of related problems: how to open up career prospects for the two-thirds of adults who have not graduated from university; and how to improve hiring and retention for companies, especially those looking to bolster their workforce with employees from diverse backgrounds.

“The technology skills gap is a problem,” said Sophie Ruddock, vice president and general manager of Multiverse North America. “Building an equitable and inclusive workforce is another. Apprenticeships do both without trading one for the other.

The new investment follows a $130 million fundraise in September. Multiverse’s original name was WhiteHat.

The company is growing in a New York hiring landscape where corporations and government programs have embraced the apprenticeship model as a way to bring workers with potential, but not necessarily qualifications, into positions where they can excel. Many jobs are skill-based technical positions, such as data analysts and software engineers. Others are business and management oriented.

Google, fitness company ClassPass and Visible, which is part of Verizon, are three New York companies already working with Multiverse, the company said.

Multiverse said its secret to successful apprenticeships and scaling is a model that makes the hiring and training process smooth for an employer and educational for an employee. By carefully tracking success data while being hands-on on curriculum and soft skills, Multiverse is preparing for growth in the United States, Ruddock said. About 60% of employer partners expand their programs within six months of launching apprenticeships, she said.

The result is that previously underemployed or underdeveloped workers can build careers, especially in the city’s tech and technology-intensive finance and financial services sectors.

“We all have the mental capacity to learn beyond a classroom environment, and you don’t always need a degree to solve the problems facing businesses,” wrote Shafee Ahmed, software engineer at ClassPass, in an April editorial for the Built In website. Ahmed got his job through multiverse learning.

The company said the latest fundraising puts its value at $1.7 billion, double what it was eight months ago. This round was co-led by US investors StepStone and return investors Lightspeed Venture Partners and General Catalyst.

“Forcing college degrees and making admissions officers gatekeepers to great careers means excluding thousands of talented people,” said Euan Blair, CEO. “This funding will help us attract more people without a degree – or in need of reskilling – into tech careers and ultimately create a more diverse group of future leaders.”

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