Whitehat Rebrands as Multiverse, Secures $44M for US Tech Apprenticeships

The rising cost of higher education, coupled with recent health concerns on campuses, hasn’t diminished the overall trend of increasing numbers of individuals globally pursuing degrees beyond secondary school. A primary driver for this continued growth remains the enhanced economic prospects generally associated with a college education.

Today, a company is pioneering an alternative pathway for those seeking careers in technology and knowledge-based roles – specifically, through apprenticeships designed to recruit and train younger individuals directly in the workplace – has announced a substantial funding round to assess its potential as a viable, large-scale alternative to traditional academic routes.

Multiverse, a startup originating in the U.K. that collaborates with businesses to create these apprenticeships and then identifies and recruits promising, diverse candidates for those positions, has secured $44 million in funding. These funds will be utilized to launch operations in the U.S. market, building upon its existing network of approximately 300 clients and thousands of apprentices within the U.K.

This Series B funding round is spearheaded by General Catalyst (which has recently been very active in supporting U.K.-based startups, also leading a significant investment in Bloom & Wild), with participation from GV (formerly Google Ventures), Audacious Ventures, Latitude, and SemperVirens. Existing investors Index Ventures and Lightspeed Venture Partners, who initially invested $16 million in the company’s Series A round in 2020, also contributed to this round.

While the company’s valuation remains undisclosed, the funding round attracted considerable interest. The size of the Series B increased by $8 million between the initial pitch and its completion (originally closing at $36 million). The Financial Times reported a valuation of around $200 million, however, the company clarifies that this figure is “speculation on the FT’s part.”

The company was initially founded under the name WhiteHat and is undergoing an official rebranding today. Co-founder Euan Blair (the son of former U.K. Prime Minister Tony Blair and barrister Cherie Booth Blair) explained that the original name reflected the startup’s intention to “disrupt the existing system for positive change.”

He further elaborated that, “the scope of our work has expanded and become more comprehensive.” Drawing a parallel to the gaming world – a context where this term is commonly used – the new name is intended to convey the idea that “all possibilities are within reach.”

Blair continued, stating that there are “multiple career paths” available to young adults after completing secondary education. While a traditional two-to-four year college or university degree has long been considered the standard route into the technology sector, Multiverse believes that apprenticeships can become a readily accessible and widely adopted alternative.

“Our goal is to establish a superior alternative to university and college,” he stated. These apprenticeships typically have a duration of 1.5 years.

The concept of a “superior alternative” is particularly relevant when considering how to broaden access to opportunities and encourage participation from underrepresented groups, and how this aligns with the efforts of technology companies to enhance diversity in their hiring practices. In both scenarios, the objective is to ensure that pursuing either path does not compromise the quality of the experience or the caliber of the resulting talent.

There has historically been a negative perception associated with less prestigious educational institutions, so investing resources into another avenue that could perpetuate this disparity would be counterproductive and impede progress. Therefore, the development of high-quality apprenticeships represents a disruptive and compelling solution.

Blair noted that currently, over half of the individuals participating in Multiverse programs are people of color, and 57% are women, with plans to further integrate this commitment to diversity into the company’s core mission.

The startup positions itself as a hybrid of a technology company and an educational institution.

It collaborates with technology companies and other organizations to create opportunities for individuals without prior higher education or formal training, allowing recent high school graduates to enter the workforce, gain practical experience while earning a salary, and advance their careers with this foundational knowledge.

Currently, apprenticeships offered through the platform encompass roles ranging from data analysts to exhibition designers. The company anticipates that expanding into the U.S. market will lead to a greater variety, number, and geographic distribution of available positions.

This venture is not solely a social enterprise; it also represents a viable business model. Blair explained that the fees charged to partner companies vary depending on the qualification, “but generally fall around the $15,000 range.” (Individuals applying for apprenticeships do not incur any costs and will receive compensation from the companies offering the positions.)

Beyond simply connecting individuals with opportunities, Multiverse actively develops the “curriculum” for each apprenticeship, designing and delivering training programs to equip participants with the necessary skills alongside practical work experience.

The importance of this training component has been amplified in the past year. Remote training and virtual mentorship have become increasingly prevalent as organizations have adopted remote work arrangements to mitigate the spread of COVID-19.

Looking ahead, regardless of the evolving circumstances – with hopes that vaccinations and other measures will help us overcome the current challenges – many anticipate that the infrastructure established to support virtual work will remain in place, which is advantageous for a company like Multiverse that is building its business around this model, utilizing both proprietary technology and solutions from third-party partners.

The broader ecosystem of companies providing tools for delivering educational content, facilitating training, and enabling collaborative work has experienced significant growth during the pandemic, providing Multiverse with a wide range of options for onboarding individuals into new work environments. (Google, now an investor in Multiverse, is a prominent developer of such educational tools.)

Apprenticeships, however, represent an intriguing area for a startup to address. Traditionally, the term has been primarily associated with skilled trades, rather than “knowledge workers.”

However, with the global shift from industrial economies to knowledge-based economies, there is a strong case to be made for expanding the application of apprenticeship models to a wider range of professions, rather than solely relying on the traditional expectation that a college degree is the only path to advancement.

(The latter implicitly suggests that college is the sole route to career success.)

It is possible that Blair’s connections facilitated funding and access to potential clients. While this may be true, the startup’s ultimate success will depend on its ability to effectively execute its vision, connect individuals with opportunities, and retain their engagement.

This is what ultimately resonated with the investors, according to Joel Cutler, managing director and co-founder of General Catalyst.

“Euan possesses a genuine conviction that this is a worthwhile endeavor, and when you speak with him, you sense a clear sense of purpose,” Cutler stated in an interview. Addressing the question of family connections, he emphasized that this is precisely the type of issue the technology industry should actively address.

“Of all sectors, the tech world should lead the way in breaking down barriers related to educational background, as it is inherently more meritocratic than others. This is the ideal starting point for challenging that norm,” he said. “Higher education will remain valuable, but apprenticeships will also play a crucial role.”

He also pointed to Guild Education, another company backed by General Catalyst, which is addressing similar opportunities – or rather, the gaps in current opportunities – for more experienced workers.