UK-based Multiverse announced a USD $44 million Series B round of VC funding to match young and diverse talent with apprenticeships. This brings the total raised to $64 million.
Multiverse positions apprenticeships as an alternative to the traditional graduate path. Apprenticeships have been increasing in popularity in the UK, as a viable alternative to attending university. Multiverse has positioned some of this funding to expand in the US. We’ve been watching the integration of education/training and recruiting via interesting marketplace models. As more attention is focused on the real value/ROI of education, this model looks interesting. The firm has partnered with General Assembly providing skills development in certain programs. The firm also underscores the value of apprenticeships in helping achieve diversity goals.
Of the USD $5 billion invested in HR technology globally in 2020, $939 million of it was focused on talent acquisition.
We’ve talked about our expectation that more innovative marketplace models will develop and emerge. This looks like one to keep an eye on.