London-based edtech unicorn Multiverse has raised $70m from Schroders Capital, Index Ventures and General Catalyst in its first fundraise since 2022. The investment values the company at $2.1bn, up from $1.7bn previously. Founded in 2016 by Euan Blair, the son of former UK prime minister Tony Blair, Multiverse originally placed school leavers into apprenticeships before pivoting to its current model of upskilling mid-career employees for corporate clients.

The company first achieved unicorn status four years ago when it raised $220m from Lightspeed Venture Partners, General Catalyst, Index Ventures and GV. However, the business has faced significant challenges, including multiple rounds of layoffs. Multiverse cut up to a third of its US workforce after missing revenue targets, followed by dozens more job cuts in the year running up to March 2025.

Blair has acknowledged the company's struggles, telling Sifted that Multiverse waited too long to bring clear structure to how it operates. He added that business failures are typically self-inflicted rather than external, stating: "I'm a big believer that in nearly every case when a business fails, it's suicide not murder, right?" The fresh capital provides the company with resources to continue its recovery under renewed leadership focus.