For the longest time, job seekers of all ages were given advice as old as time to find successful careers: get a degree, work a few internships, land a career role and stay there. Now, the ways to approach a promising career path have drastically changed. Multiverse, a London-based edtech startup that’s co-headquartered in NYC, is one of the tools job seekers with untraditional backgrounds can use to catapult their careers.
On Wednesday, Multiverse announced it raised a $220 million Series D round co-led by StepStone Group, Lightspeed Venture Partners and General Catalyst. This raise valued the company at $1.7 billion — double its previous valuation of $875 million from just eight months ago when it raised a $130 million Series C round.
Jeremy Duggan, Multiverse’s president and board member, told Built In that the raise wasn’t pitched by the company.
“We weren’t looking to raise but are lucky to have new and existing investors who share our belief that the need for an alternative to the college system is getting increasingly urgent,” Duggan said. “Our investors are wholeheartedly invested in our vision of democratizing access to the best careers.”
With its new capital, Multiverse is planning to further expand into the U.S., as its services are currently available in New York, Atlanta, Dallas, Pheonix, Boston and the Bay Area in California.
Multiverse’s technology connects job seekers with apprenticeships at big-name companies like Verizon, Cisco, Visa and Box. Through apprenticeships, job seekers obtain an education and experience that can potentially supplement receiving a degree in their respective fields and ultimately prepare them for future career endeavors.
The company deems this process to be more equitable and affordable, allowing job seekers to gain experience and boost the economy by securing jobs that would otherwise be left open.
The startup currently has 600 employees, 100 of which are U.S.-based. In addition to its fresh funding round, Multiverse is hiring for nearly 100 open roles.
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