Praxis Labs Acquired by Torch to Boost AI Leadership Training
▼ Summary
– Praxis Labs, a learning development platform, was acquired by Torch for an undisclosed amount, aiming to expand its reach through strategic partnerships.
– Praxis Labs’ CEO Elise Smith cited shared values and mission alignment with Torch as key reasons for the acquisition, along with complementary offerings in leadership development.
– Founded in 2019, Praxis Labs worked with major companies like Amazon and Google, focusing on equitable workplaces and raising a $15M Series A in 2021.
– Co-founders Elise Smith and Heather Shen will join Torch as head of AI growth and head of AI product, respectively, with the entire Praxis team transitioning.
– Smith emphasized the acquisition as a critical step to help companies navigate workforce transformation involving AI while preserving human connection.
Leadership development platform Praxis Labs has been acquired by Torch in a strategic move to combine AI-powered coaching with organizational insights. The deal, finalized this week, brings together two innovators in workplace training, though financial terms remain confidential.
Praxis Labs co-founder and CEO Elise Smith explained the rationale behind joining forces with Torch, noting the complementary strengths between the companies. “Partnering with Torch allows us to scale our impact,” she said. Smith and her co-founder Heather Shen crossed paths with Torch CEO Heather Conklin through their shared focus on leadership development, recognizing an opportunity to merge their expertise.
The alignment went beyond business strategy. “We saw a chance to blend Torch’s deep organizational insights with Praxis’ AI-driven coaching tools to create a more dynamic approach to workforce development,” Smith added. Founded in 2019, Praxis Labs quickly gained traction with major clients like Amazon, Google, and Zoom, helping them foster inclusive workplaces through data-backed training programs.
A standout moment in the company’s journey came in 2021 when Praxis secured a $15 million Series A round, with backing from prominent investors including Emerson Collective and NBA star Steph Curry’s Penny Jar Capital. The funding round also marked a milestone for Smith as one of the few Black women founders to raise over $1 million in venture capital at the time.
As part of the acquisition, Smith and Shen will take on key leadership roles at Torch, overseeing AI growth and product development. The entire Praxis team will transition to Torch, ensuring continuity for existing clients.
Smith emphasized the urgency of adapting to evolving workplace dynamics. “Businesses are grappling with how to integrate AI while preserving human connection, this partnership positions us to address that challenge head-on,” she said. By combining resources, the merged entity aims to deliver more comprehensive solutions for companies navigating the intersection of technology and leadership development.
The acquisition underscores the growing demand for AI-enhanced training tools in corporate environments, particularly as organizations seek scalable ways to upskill employees and foster inclusive cultures. With Torch’s established coaching framework and Praxis’ innovative assessments, the collaboration could redefine how companies prepare their teams for the future of work.
(Source: TechCrunch)
