{"id":353670,"date":"2026-01-05T17:26:11","date_gmt":"2026-01-05T17:26:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/353670\/"},"modified":"2026-01-05T17:26:11","modified_gmt":"2026-01-05T17:26:11","slug":"euan-blairs-multiverse-increases-losses-despite-interest-in-ai-training","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/353670\/","title":{"rendered":"Euan Blair\u2019s Multiverse increases losses despite interest in AI training"},"content":{"rendered":"

Losses widened at the workplace training company founded by Euan Blair despite growing revenues on the back of increased interest in artificial intelligence.<\/p>\n

Multiverse, a private business given a \u201cunicorn\u201d valuation of \u00a31.4 billion in a 2022 funding round, said annual sales rose 36.3 per cent, from \u00a379.6 million in the year to the end of March 2024, up from \u00a358.4 million in the previous 12 months.<\/p>\n

However, pre-tax losses rose from \u00a360.6 million to \u00a363.3 million as administrative expenses climbed from \u00a3106.1 million to \u00a3129.3 million. Accumulated losses have reached \u00a3178.3 million, accounts for Multiverse Group show.<\/p>\n

\u2022 Half of graduates \u2018would earn more as a higher-level apprentice\u2019<\/a><\/p>\n

Multiverse, set up in 2016 by Blair, is a provider of training and apprenticeships. The business began by matching people who have not been to university with jobs and training paid for by employers, but now focuses on retraining staff already in work, often in the middle of their careers. It has clients in the private and public sectors, including the NHS. It says it has worked with an \u201capprentice population\u201d of close to 28,000 people. Most of its income comes from the UK.<\/p>\n

It was valued at about \u00a31.4 billion in a funding round in 2022, bringing it into the ranks of the UK\u2019s most valuable private businesses.<\/p>\n

The company says its aim is to \u201cequip the workforce to win in the AI era\u201d and that it has partnerships with employers in \u201cevery sector of the economy\u201d.<\/p>\n

Blair, 41, the son of Sir Tony Blair, has said training staff to get the most out of AI would be vital to realise productivity gains.<\/p>\n

It described its 2025 financial year as one of \u201cstrong growth and further investment\u201d and put sales growth down to growing interest in using AI and data skills to boost productivity.<\/p>\n

Operating losses widened from \u00a363.7 million to \u00a364.6 million. Multiverse noted that its loss on earnings before interest, taxes, depreciation, and amortisation (Ebitda) \u2014 a profit and loss measure watched closely by investors \u2014 was \u201ctrending towards profitability\u201d thanks to efficiency improvements. Ebitda losses narrowed from \u00a361.3 million to \u00a359.7 million.<\/p>\n

Multiverse said sales growth had been achieved despite a slight dip in its headcount, from 813 to 822.<\/p>\n

Almost \u00a31 million was paid to 55 staff in compensation for losing their roles, compared to \u00a31.9 million paid to 103 employees for loss of office in 2024.<\/p>\n

As of October 3, 2025, the date the accounts were signed off, cash balances were down to \u00a381.8 million, from \u00a3135.4 million in the previous year.<\/p>\n

Multiverse says that it is also using AI to improve its own productivity and that revenue per employee rose by 37 per cent in the financial year covered by the accounts.<\/p>\n

The company has said it has begun offering five-figure prizes to employees who can build their own AI tools<\/a> that save the company money and time to improve efficiency in areas including sales and curriculum design for its apprenticeships and educational courses.<\/p>\n

Blair\u2019s pay including pension contributions dropped slightly, from \u00a3253,000 to \u00a3246,000 in the last financial year. According to filings, Blair owns about a fifth of the company. Other key shareholders include the venture capital firms General Catalyst, Lightspeed Venture Partners and Index Ventures.<\/p>\n

A Multiverse spokesman said: \u201cCompanies are looking for ways to create genuine productivity improvements from their AI investments. We\u2019re delivering that both for our growing customer base, and at Multiverse, where revenue per employee is up 37 per cent.<\/p>\n

\u201cOur revenue growth is accelerating, and our key earnings metric, ebitda, has further improved as we deploy our strategy towards profitability.\u2019\u2019<\/p>\n","protected":false},"excerpt":{"rendered":"Losses widened at the workplace training company founded by Euan Blair despite growing revenues on the back of…\n","protected":false},"author":2,"featured_media":353671,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[554,733,4308,86,56,54,55],"class_list":{"0":"post-353670","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-artificial-intelligence","10":"tag-artificialintelligence","11":"tag-technology","12":"tag-uk","13":"tag-united-kingdom","14":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/353670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=353670"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/353670\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/353671"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=353670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=353670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=353670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}