An education start up founded by Euan Blair, son of former prime minister Tony Blair, has secured £65m in funding.
Founded in 2016, Multiverse provides school leavers with apprenticeships and training, helping to secure people work in companies such as Google, Unilever, Facebook and Morgan Stanley.
The investment is understood to be part of upcoming financing and has helped to raise the estimated valuation of the company to £520m, proof of the company’s rapid growth since January when it was valued at £200m during a Series B funding round.
In comments to the Telegraph, however, a spokesperson challenged the new valuation, saying: “we’re growing fast which is why we’re raising another round of investment. The round is not closed so any attempt to calculate our valuation is inaccurate speculation.”
Euan Blair owns 28 per cent of Multiverse Group and his stake, while diluted by the funding round, would still be worth tens of millions of pounds.
The tech entrepreneur, 37, would have been a teenager when his father Tony Blair launched a campaign to get half of all school leavers into university in 1999.
Euan has said hopes to provide school leavers with “a genuine viable alternative” to the university system and stressed that higher education establishments “need to adapt” to prepare students for the workplace.
Multiverse has plans to create 200 jobs by the end of 2021.