Multiverse, the London-based upskilling platform founded by Euan Blair, announced on Friday that it has raised $70 million in primary funding at a valuation of $2.1 billion. The funding round was led by Schroders Capital, with participation from existing investors including General Catalyst, Lightspeed, D1 Capital, Index Ventures, Bond and StepStone Group.
The new valuation represents a significant step up from the company’s $1.7 billion Series D in 2022, reflecting strong momentum in the AI training and workforce development space. Multiverse reported that revenue grew 50% year-on-year for the third consecutive year, and it achieved its first cash-positive quarter from January to March 2026. As part of the raise, all employees are being offered equity, aligning the team with the company’s long-term growth.
Multiverse is positioning this round behind a broader category pitch rather than a product-specific one. CEO Euan Blair stated in the company blog that the firm aims to become ‘Europe’s AI adoption platform’, acting as the intermediary between companies purchasing AI tools and the employees expected to use them effectively. This vision addresses a critical gap in the enterprise AI stack: not another model or agent runtime, but a skilled workforce capable of operating these technologies.
The European push has already gained traction through the recent acquisition of StackFuel, a Berlin-based data and AI training provider. Completed in January, this acquisition brings corporate clients such as Mercedes-Benz, IAV, and Telefónica, along with a stated goal of training 100,000 German workers in AI skills. StackFuel boasts a 92% programme completion rate, and its founders, Leo Marose and Stefan Berntheisel, have joined Multiverse’s senior leadership team.
On the company’s own metrics, Multiverse has delivered more than £2 billion in verified ROI for over 1,000 employers to date, including Babcock, the AA, Capita and Addison Lee. Its AI coaching platform, Atlas, has seen a tripling of daily active users in the past year. Partnerships have also moved upmarket, with Microsoft, Palantir and Databricks now listed as platform partners, indicating a deepening integration into enterprise technology ecosystems.
The raise comes at a time when many organisations are grappling with the uneven returns from significant AI investments. Multiverse cites BCG’s 2026 AI Radar, which reports that corporate AI spend has doubled since last year, but also notes that ‘trailblazer’ adopters invest about twice as much in workforce upskilling as their ‘follower’ peers. CEOs surveyed by Multiverse named skills gaps as the second-largest barrier to AI adoption, behind only regulation and ahead of data quality.
This funding round also carries a political signal that is increasingly common for British scale-ups. Chancellor of the Exchequer Rachel Reeves provided a statement in support of the raise, saying the UK government wants Britain to achieve the fastest rate of AI adoption in the G7, and called Multiverse ‘a fantastic example of a British company helping turn that ambition into reality’. She added that the investment would ‘support its expansion across Europe’.
Multiverse’s thesis directly contrasts with a louder narrative in the enterprise AI conversation. Companies like Klarna have frozen hiring on the argument that AI tools allow them to do more with fewer people. In contrast, Multiverse is selling a different trade-off: that the true value of an AI deployment is determined by how effectively the existing workforce can operate it. The $70 million bet is that enterprise buyers will increasingly write cheques for this approach over the coming years.
The company did not name the banks involved in the transaction or disclose its run-rate revenue. It stated that the funding would be used to accelerate European expansion, without providing a further geographic breakdown of plans.
Background: Multiverse was founded in 2016 by Euan Blair, the son of former UK Prime Minister Tony Blair. The platform originally focused on apprenticeships, offering tech and business apprenticeships in partnership with employers. Over time, it evolved into a broader upskilling platform, particularly in data and AI skills. The company has raised over $400 million to date from prominent investors, and its valuation has grown steadily from $1.7 billion in 2022 to the current $2.1 billion.
The AI upskilling market is becoming increasingly competitive, with players like Coursera, Udacity, and corporate training divisions of major tech companies. However, Multiverse differentiates itself by focusing on the enterprise adoption layer, offering coaching, apprenticeships, and certification programmes tailored to specific employer needs. The acquisition of StackFuel strengthens its presence in Germany, the largest European economy, and provides a strong foothold in the automotive and industrial sectors.
Industry analysts note that the demand for AI training is surging as companies race to implement generative AI tools. However, many fail to see ROI because employees lack the skills to use them effectively. This creates an opportunity for platforms like Multiverse that combine practical training with measurable outcomes. The 50% year-on-year revenue growth and cash-positive status suggest the model is resonating with corporate clients.
Looking ahead, Multiverse’s success in Europe could set the stage for further expansion into other regions, though the company has not disclosed plans beyond Europe. Its ability to prove ROI with clients like the AA and Babcock will be critical in scaling its offerings. The political backing from the UK government also provides a tailwind, as regulators increasingly view AI skills as a national priority.
The broader context of enterprise AI adoption is evolving rapidly. While some companies view AI as a cost-cutting tool that can replace human workers, others see it as a way to augment and enhance existing talent. Multiverse squarely belongs to the latter camp, and its latest raise is a strong signal that investors believe the ‘augmentation’ narrative will prevail in the coming years. With a growing client base, strategic partnerships, and a clear value proposition, the company is well-positioned to become a leading force in the AI adoption landscape across Europe.
Source: TNW | Investors-Funding News