Multiverse, the company run by Euan Blair, the son of former prime minister Sir Tony Blair, has been valued at US$1.7bn (£1.4bn) in its latest funding round, making it the UK's first 'edtech' unicorn.
In just eight months, the apprenticeship business has doubled its valuation and earned a spot among Britain's billion-pound businesses as it secured US$220mln (£175mln) in funding.
Multiverse was co-founded by Blair junior in 2016 and launched in the US in January 2021.
Reports indicate that Blair - who is chief executive of the company and was awarded the MBE for services to education in the recent Queen's birthday honours - owns between 25% and 50% of the business.
Since foundation the group has provided apprenticeships to young adults and those seeking retraining, now working with over 500 companies worldwide.
Over 8,000 individuals have been placed in apprenticeships worldwide through the programme as an alternative to university.
US investment firm StepStone Group contributed the latest funding, along with previous investors Lightspeed Venture Partners and General Catalyst.
Multiverse plans to use the funds to expand across the US, where the company launched in January of last year.
"There has never been a more pressing time to create an alternative to university education that is equitable and inclusive and there is an incredible opportunity before us to change the status quo with apprenticeships," said Blair.
"This funding will help us bring more people without degrees or in need of re-skilling into tech careers and ultimately create a more diverse group of future leaders."
Multiverse board member Jeremy Duggan added the Multiverse journey so far has been marked not only by rapid growth, but also by developing a real and actionable solution to the challenges of workplace diversity.