Learning development platform Praxis Labs announced that Torch, a leadership and coaching company, has acquired it for an undisclosed amount.
“As a small company with fewer than 20 people serving companies as large as Amazon, we knew we needed to build powerful partnerships across product and go-to-market to reach more companies,” co-founder and CEO of Praxis Labs, Elise Smith, said.
Torch CEO Heather Conklin connected with Elise Smith and her co-founder, Heather Shen, while all three were actively working in the leadership development space.
“We were immediately struck, not just by our shared values and mission, but also by how we aligned on what was needed to really future-proof the next general workforce,” Smith continued. “There was a clear connection and opportunity to connect Torch’s contextual coaching and organizational insights with Praxis’ AI coaching, practice, and skill assessments.”
Founded in 2019, Praxis Labs partnered with major companies like eBay, Zoom, Amazon, Google, and Target to promote more equitable and inclusive workplaces through leadership training and skill assessments. In 2021, the company raised a notable $15 million Series A round, making co-founder Elise Smith one of the few Black women at the time to secure over $1 million in venture capital funding. Investors in the round included Emerson Collective, Steph Curry’s Penny Jar Capital, Precursor Ventures, and Ulu Ventures.
Elise Smith and Heather Shen will join Torch as Head of AI Growth and Head of AI Product, respectively. Additionally, the entire Praxis Labs team will integrate into Torch as part of the acquisition.
“Right now, every company and executive team is facing this pivotal question: How will they prepare and manage this next generation of work with humans and AI while maintaining the human connection that’s essential for real workforce and company transformation?” she said.
“We’re confident that joining Torch gives us the best possible opportunity to help companies solve this question in this crucial moment.”
