These Founders Just Sold Their AI Learning Platform To Leadership Enterprise Torch
Torch, a leadership and coaching enterprise, has acquired Praxis Labs, an immersive learning platform that uses AI to build inclusive workplace cultures, for an undisclosed amount.
As part of the acquisition, the entire Praxis Labs team will join Torch. Praxis Labs’ co-founders, Elise Smith and Heather Shen, will join Torch as Head of AI Growth and Head of AI Product, respectively.
About Praxis Labs
Founded in 2019, Praxis Labs is an AI platform that builds critical human skills with research-backed practice simulations, AI coaching, and skills assessments. The startup has partnered with companies like eBay, Zoom, Amazon, Google, and Target to foster more inclusive workplaces through leadership development and skill assessments.
When the company secured a $15 million Series A in 2021, Smith became one of the few Black women to raise more than $1 million in venture capital funding. The round included Emerson Collective, Steph Curry’s fund Penny Jar Capital, Precursor Ventures, and Ulu Ventures.
Reimagining leadership development
Smith and Shen met Torch CEO Heather Conklin through their work in the leadership development space. “There was a clear connection and opportunity to connect Torch’s contextual coaching and organizational insights with Praxis’ AI coaching, practice, and skill assessments,” Smith told TechCrunch.
“Combining the capabilities of Torch and Praxis Labs delivers a powerful value loop that pairs contextual coaching AI practice simulations, coaching, and assessments so leaders can change their mindsets, build new behaviors, and perform in pivotal moments for their teams and their organizations,” Smith said in a press release.
“Alongside Torch’s organizational insights, we can pinpoint where support will have the most impact and tailor development to both individual needs and business priorities. It’s a smarter, more dynamic way to drive meaningful change at scale,” Shen added.
Image: Praxis Labs
