AI Leadership Development Platform Praxis Labs Sells to Torch
San Francisco, CA – Praxis Labs, a pioneering AI-powered learning development platform focused on fostering equitable and inclusive workplaces, announced its acquisition by Torch, a leading leadership and coaching enterprise. The strategic move, finalized for an undisclosed sum, marks a significant consolidation in the AI leadership development sector.
Elise Smith, co-founder and CEO of Praxis Labs, articulated the rationale behind the acquisition, stating, “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.” This acquisition is set to amplify Praxis Labs’ reach and impact by integrating with Torch’s robust leadership ecosystem.
The collaboration stems from a shared vision between Smith, her co-founder Heather Shen, and Torch CEO Heather Conklin. Smith highlighted the immediate connection: “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.” She emphasized the clear opportunity to merge Torch’s contextual coaching and organizational insights with Praxis Labs’ cutting-edge AI coaching, practice simulations, and skill assessments.
Launched in 2019, Praxis Labs quickly distinguished itself by working with a roster of prominent clients including eBay, Zoom, Amazon, Google, and Target. Their platform provided critical leadership training and skill assessments aimed at cultivating more equitable and inclusive environments. A testament to its innovative approach and market potential, Praxis Labs successfully secured a $15 million Series A funding round in 2021. This notable achievement positioned Elise Smith as one of the few Black women at the time to raise over $1 million in venture capital funding, with investors including Emerson Collective, Steph Curry’s Penny Jar Capital, Precursor Ventures, and Ulu Ventures.
In a move signaling seamless integration and continuity, Elise Smith will transition into the role of Head of AI Growth at Torch, while Heather Shen will take on the position of Head of AI Product. The entire Praxis Labs team is also set to join Torch, bringing their specialized expertise and innovative spirit to the combined entity.
Smith concluded by underscoring the broader implications of this merger for the future of work: “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 expressed confidence that joining Torch offers the best possible opportunity to address this crucial challenge.
