Workplace training specialist Multiverse has posted a year of rapid revenue growth, but losses at the business continued to deepen as investment levels remained high.
The London-based company, founded in 2016 by Euan Blair, reported a 36.3% rise in annual revenues to 拢79.6 million, up from 拢58.4m the previous year.听
The growth was driven by rising demand from organisations seeking to use AI and data more effectively to improve productivity.
Despite the strong top-line performance, pre-tax losses widened to 拢63.3m, compared with 拢60.6m in the prior year.听
Administrative costs rose sharply from 拢106.1m to 拢129.3m as the business continued to invest in its platform, curriculum development and commercial teams.听
As a result, accumulated losses at the company have now reached 拢178.3m.
Operating losses also increased slightly, moving from 拢63.7m to 拢64.6m over the period.听
However, Multiverse pointed to improving underlying performance, with its EBITDA loss narrowing from 拢61.3m to 拢59.7m, which it said reflected the fact that the business is 鈥渢rending towards profitability鈥�.听
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Multiverse said the 2025 financial year was one of 鈥渟trong growth and further investment鈥�, with demand increasingly centred on AI and data-driven training programmes.听
The company鈥檚 stated mission is to help employers 鈥渆quip the workforce to win in the AI era鈥�, and it claims to have partnerships with organisations across every major sector of the economy.
In recent months, it has partnered with Palantir to upskill NHS staff, launched an AI academy with Newark and Sherwood District Council, and appointed former MongoDB figure Donn D鈥橝rcy as its chief revenue officer.听
Originally launched as a business focused on matching people without university degrees to employers offering apprenticeships, Multiverse has evolved significantly in recent years.听
Its core focus is now on retraining and upskilling employees already in work, many of them mid-career professionals.听
The company works with a mix of private sector clients and public bodies, and says it has supported close to 28,000 apprentices to date.
It achieved unicorn status in 2022 after securing a valuation of around 拢1.4 billion in a funding round.
Headcount reduced slightly over the year, falling from 822 employees to 813, with the firm paying close to 拢1m in redundancy compensation to 55 staff during the period.
A company spokesperson told The Times that employers were increasingly focused on turning AI investment into tangible productivity improvements.听
They added that Multiverse was delivering those gains both for customers and internally, with accelerating revenues and improving EBITDA performance as the business continues its push towards profitability.