Multiverse, the Apprenticeship Unicorn, Enhances AI Focus by Acquiring Searchlight

Multiverse, the U.K. based organization that constructs apprenticeship programs to train individuals in technology skills while they work, recently acquired Searchlight. Searchlight is a recruitment platform utilizing artificial intelligence to find the right talent. The plan is to incorporate Searchlight’s technology to construct new AI products to extend the scope of professional training services by Multiverse.

“We look forward to employing Searchlight’s AI, their platform and exceptional talent to diagnosed necessary skills within different companies to deliver strong solutions,” says Euan Blair, founder and CEO of Multiverse. “By leveraging our scale, top-tier learning support, Searchlight’s technology and team, we’re optimistic that more companies and individuals benefit.”

Searchlight, which was established by twin sisters Kerry and Anna Wang, will continue to serve its existing clients such as Udemy, Zapier, Talkdesk among other tech firms till the conclusion of their contracts. Following this, the focus will shift towards Multiverse’s objectives, thus phasing out Searchlight’s recruitment services.

This acquisition demonstrates the growing significance of AI in the spheres of employment and learning. Some will resort to AI to speed up their operations; others propound the notion that AI will soon take over certain jobs. This particular acquisition addresses another area where AI makes its presence felt – enhancing the efficiency of professional training services to address the recruitment shortfalls.

AI and recruitment have sometimes had a complex relationship. Amazon famously had to abandon an AI recruitment tool since it showed inherent bias against women in technical positions. This happened because the tool was trained with recruitment data that mostly came from men. Since then, advances in technology and deeper understanding about how AI models are developed and trained have been significant, according to the CEO of Searchlight who was talking to TechCrunch.

The CEO, Wang, explained that “Our AI model can identify a potential match for a role at a rate four times higher than a traditional interview. We are addressing the same issue, which is to increase equitable access to economic opportunities for everyone. Multiverse had a great business, but now they are interested in becoming a comprehensive workforce development platform.” Following the development, Kerry will take the post of product director at Multiverse while Anna will become the head of AI.

Multiverse, founded and led by Blair (a son of former U.K. Prime Minister Tony Blair and noted lawyer Cherie Booth Blair), currently serves about 1,000 clients. Its list of former and current clients includes Cisco, governmental bodies, financial service companies, and industrial firms.

Multiverse initially specialized in apprenticeships as an effective alternative for individuals seeking to establish careers in rapidly advancing sectors such as technology. It has since broadened its offerings to include professional training for employed individuals. Ujjwal Singh, the company’s CTO and CPO, stated that Multiverse already provides some AI-driven services, including a personalized AI coaching assistant for users. It now plans to add more technology to enhance its overall platform and its reputation among customers focused on investing in the most contemporary services they can find.

The Wang sisters, Stanford graduates and founders of startup Searchlight, did not disclose the financial aspects of the deal. They completed the Y Combinator in 2018 and successfully raised nearly $20 million, the majority of which came from a $17 million Series A in 2021. The startup attracted a host of notable investors including Accel, Founders Fund, Emerson Collective, and Shasta Ventures. Pitchbook estimated the company’s 2021 valuation at $64 million.

On the other hand, Multiverse was valued at $1.7 billion in 2022. Over the years, it has raised several hundred million dollars from investors like General Catalyst and Lightspeed. This is the firm’s second acquisition, having previously acquired YC company Eduflow last year.

What we know is that the investors are pleased with this arrangement. Keith Rabois, who led the Series A for Searchlight, shared his views. He stated that from the beginning, founders Anna and Kerry Wang focused on building Searchlight’s AI models to suit their vision. The unique technology employed at Searchlight can attract innovative firms like Multiverse. He expressed his excitement about the potential benefits of Multiverse’s acquisition for both Searchlight and Multiverse.

Discover the pinnacle of WordPress auto blogging technology with AutomationTools.AI. Harnessing the power of cutting-edge AI algorithms, AutomationTools.AI emerges as the foremost solution for effortlessly curating content from RSS feeds directly to your WordPress platform. Say goodbye to manual content curation and hello to seamless automation, as this innovative tool streamlines the process, saving you time and effort. Stay ahead of the curve in content management and elevate your WordPress website with AutomationTools.AI—the ultimate choice for efficient, dynamic, and hassle-free auto blogging. Learn More

Leave a Reply

Your email address will not be published. Required fields are marked *