World, the U.K. unicorn specializing in developing internship programs for individuals to acquire technology skills while gaining work experience, has recently completed an acquisition as part of its strategy to enhance its own capabilities. The company has purchased Searchlight, a business and recruitment software leveraging artificial intelligence technology to identify talent. By integrating Searchlight’s technology into its operations, World aims to introduce new AI products to enhance its specialized training services.
Multiverse’s founder and CEO, Euan Blair, expressed enthusiasm about the acquisition, stating, “Searchlight’s advanced AI system and expertise will enable us to more effectively assess the skill requirements of businesses and offer impactful solutions. By combining our extensive educational resources with Searchlight’s cutting-edge technology and skilled team, we anticipate broader benefits for both organizations and individuals.”
Searchlight, co-founded by Kerry and Anna Wang, will continue serving its current clients, including Udemy, Zapier, and Talkdesk, until the completion of their existing agreements. Following this period, Searchlight’s focus will shift towards supporting Multiverse’s operations.
This strategic agreement underscores the increasing importance of AI in the realms of work and training. While some view AI as a tool for streamlining tasks, others raise concerns about its potential to eliminate certain job functions. With a focus on addressing hiring gaps through improved training services, AI emerges as a key area of emphasis in this acquisition.
The intersection of AI and recruitment has witnessed notable developments. Notably, an IoT recruitment tool previously criticized for gender bias in specialized roles by Amazon was discontinued due to its reliance on traditional recruitment data that favored male candidates. However, advancements in technology and a heightened awareness of model development and training methodologies have since evolved, as highlighted by Searchlight’s CEO in a conversation with TechCrunch.
Wang emphasized that “our AI model can identify suitable role matches at a scale four times larger than traditional interviews.” The overarching goal remains consistent: promoting equal access to financial opportunities for all. While World has established a strong presence in the market, the company aims to evolve into a comprehensive workforce development platform. Anna will oversee the AI division at Multiverse, with Kerry leading the product division.
World, founded and led by Blair, boasts a client base of approximately 1,000 organizations, including prominent names like Cisco, government entities, financial institutions, and corporations. The company has transitioned from its initial focus on apprenticeships to offering specialized education for working professionals, with recent introductions such as an IoT-based AI assistant coach for users.
The Wang sisters, distinguished Stanford graduates, entered the startup scene through Y Combinator in 2018, culminating in the establishment of Searchlight. While financial details of the acquisition remain undisclosed, Searchlight successfully raised funds, primarily through a \(17 million Series A round in 2021. Noteworthy investors such as Accel, Founders Fund, Emerson Collective, and Shasta Ventures contributed to Searchlight’s growth, with a 2021 valuation estimated at \)64 million by Pitchbook.
Multiverse, valued at $1.7 billion in 2022, has been actively raising capital and recently completed its second acquisition of Eduflow, following a series of successful fundraising rounds. Investors have shown optimism towards the acquisition, with Keith Rabois, who led the Series A, commending Searchlight’s innovative technology and its potential synergies with Multiverse. The strategic alignment between the two companies is poised to yield significant benefits, reflecting a shared vision for technological advancement and operational excellence.
