Multiverse, a prominent UK unicorn specializing in apprenticeship programmes that allow individuals to acquire technology skills while on the job, has announced the acquisition of Searchlight, a talent intelligence and skills assessment platform that uses AI to help companies close their skills gaps. By combining Searchlight’s technology and expertise, this deal will accelerate Multiverse’s use of generative AI and machine learning.
Searchlight’s custom-built and bias-free AI engine will enhance Multiverse’s ability to identify, analyze, and close skills gaps within organizations through programmes closely mapped to customer business needs. This is Searchlight’s second acquisition for the company; in May 2023, it acquired another Y Combinator firm, Eduflow.
Founded in 2018 by twins Anna Wang and Kerry Wang, Searchlight develops Ethical AI to build high-performing teams. Searchlight offers a bias-free AI that finds top applicants, assesses candidates, and validates quality of hire. Its unique learning loop utilizes employee outcome data to make each successive hire a better match for the organization. Headquartered in California, the company has been at the intersection of AI and skills for the last six years, building a bias-free AI engine that understands competencies, soft skills, working styles, and job requirements. It has also received investments from venture capital firms, including Founders Fund and Accel.
Speaking on the deal, Co-founder & CEO of Searchlight, Kerry Wang, said:
We founded Searchlight to help companies build winning teams equitably and help individuals land meaningful work. When I met the Multiverse team, it was clear that we share complementary goals and have been solving similar problems. By joining forces, we can apply Searchlight’s tech and expertise to some of the world’s largest companies, effectively becoming the workforce development platform of the future.
Multiverse has partnered with more than 1,000 organizations to deliver data analytics and software engineering training. Its training model is built on a new kind of apprenticeship that is measured, applied, guided, and equitable, and its tech platforms exist to ensure learners have access to a high-quality, personalized experience that delivers measured ROI for their employers. In June 2022, the company announced a $220 million Series D funding round co-led by StepStone Group, Lightspeed Venture Partners and General Catalyst. With a post-money valuation of $1.7 billion, the round makes the company the UK’s first EdTech unicorn.
Adding about the acquisition, Co-founder & CTO of Searchlight, Anna Wang, said:
Over the past six years, Searchlight has built custom data pipelines and proprietary, ethical AI models that understand talent holistically and predict the skills necessary for business success. Merging Searchlight’s existing AI and skills expertise with Multiverse’s rich data offers an unparalleled opportunity: together, we will become the leader in leveraging AI for skills development.
Founder and CEO of Multiverse, Euan Blair, stated:
After meeting Anna and Kerry and digging into the Searchlight product, I was excited at how they used AI to spot patterns and identify skilling solutions both within and outside of the workforce. Most companies are on a journey of tech transformation, and they want to do it in a way that is both equitable and effective. What often holds them back is the gap between the transformation they want to see and the skills that will unlock it.
As part of the agreement, the Searchlight team will join Multiverse to spearhead the integration of its talent intelligence technology into Multiverse’s platform and lead Multiverse’s AI initiatives. Searchlight’s CEO, Kerry Wang, will become Director of Product. Searchlight’s CTO, Anna Wang, will become Head of AI.
