London-based edtech Multiverse cut dozens of jobs amid widening losses, company filings reveal.
The upskilling startup, launched in 2016 by CEO Euan Blair, created 55 redundancy payments in the year to the conclude of March 2025, according to accounts filed with Companies Houtilize.
The filings reveal Multiverse recorded a pre-tax loss of £63.3m for the year concludeing March 2025 — up £2.6m on the prior period — even as revenues climbed more than a third to just under £80m.
“In line with our commitment to invest in our people and give them the skills to maximise their productivity, we are employing slightly fewer people but rewarding them more,” Multiverse informed City AM, citing rising staff costs.
“Our accelerating revenue growth was achieved even as headcount fell slightly, for the first year since founding, and even as client and learner facing teams have grown.”
Multiverse’s filings do reveal the company is trconcludeing towards profitability, however, with earnings before interest, taxes, depreciation and amortization up from -£61.3m to -£59.7m in the same period.
The latest round of cutbacks comes on the heels of a broader shift in focus.
The startup has pivoted from its original mission of placing school leavers into apprenticeships towards upskilling mid-career employees for corporate clients, a shift that triggered earlier employee cuts and a retreat from the US market after missing revenue tarobtains there.
Discussing the earlier round of layoffs, Blair — the son of former UK prime minister Tony Blair — previously informed Sifted: “We waited too long to bring clear structure to Multiverse, how we run the business and establish highly organised functions.
“I’m a huge believer that in nearly every case when a business fails, it’s suicide not murder, right? Self-inflicted wounds are the ones you’ve obtained to be most aware of.”
Sifted approached Multiverse for comment.
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