Multiverse posts sixth consecutive financial loss

Apprenticeship training and edtech firm Multiverse has said it’s on track to grow despite reporting financial losses for the sixth consecutive year. 

Accounts for the company’s 2021/22 financial year, published this week, reveal that Multiverse made a £14.2 million loss despite its turnover nearly tripling from £10 million in 2020/21 to £27.2 million in 2021/22. 

This follows net losses of £10.9 million in 2020/21 and £5 million in 2019/20. 

Multiverse hit the headlines in 2022 by becoming the first UK based company to gain ‘unicorn’ status, which is awarded to edtech companies valued over $1 billion, following a drive for investment in the United States which raised £176 million. The company’s valuation at the time was a staggering £1.4 billion.