Multiverse, an online job portal for UK-based trainee seekers, raised $ 130 million in a series C funding round led by D1 Capital Partners and Bond.
The funding round valued the company at about 75 875 million, more than four times the company’s estimated value in January.
The latest funds will be used to continue its expansion in both its domestic market and the US.
Multiverse focuses on apprenticeship, which combines paid work with training and can eliminate financial barriers to job entry. The platform provides candidates with corporate training, resume matching and networking through social media.
Co-founded in 2016 by the eldest son of former British Prime Minister Tony Blair, the Multiverse Mission aims to build a diverse group of future leaders. To achieve this, the company provides high quality trainee programs that combine work, training and community. Since its inception, the startup has grown across the UK, training more than 5,000, trainees in partnership with more than 200 of the best employers in the world. The startup also focuses on future skills, including programs ranging from business operations to data science and software engineering.
Speaking about the latest developments, the co-founder of Multiverse said in a statement,
“We want to build a great option for university and college. The name also tells how the people they are targeting do not usually fit into the traditional categories of candidates.” There are many worlds that can survive as young adults after 18.
The platform matches the diverse, young talent trainee role and the right skill opportunities with existing staff.
Jeremy Goldstein, D1 Capital Partners, said in a statement,
“We believe that Multiverse is expanding access to payroll and social movements for employees, while creating significant value for employers. We look forward to investing and helping Multiverse to its model globally.”
The company claims that more than 50 per cent of trainees hired by Multiverse are from under-represented ethnic backgrounds, 53 per cent are women and one-third come from the UK’s most disadvantaged postcodes.
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