Praxis Labs, a studying growth platform, introduced its acquisition on Thursday for an undisclosed quantity by the management and training enterprise Torch.
“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, advised TechCrunch concerning the purpose for the sale.
She and her co-founder, Heather Shen, met Torch CEO Heather Conklin as they have been each already working within the management growth area.
“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.”
Praxis Labs launched in 2019 and labored with corporations reminiscent of eBay, Zoom, Amazon, Google, and Goal to construct out extra equitable and inclusive workplaces by means of management coaching and ability assessments. It notably secured a $15 million Collection A again in 2021, making Smith one of many few Black girls on the time to lift greater than $1 million in enterprise capital funding. Traders in that spherical included Emerson Collective, Steph Curry’s fund Penny Jar Capital, Precursor Ventures, and Ulu Ventures.
Smith and Shen will be part of Torch as head of AI Progress and Head of AI Product, respectively. The Praxis crew will even be becoming a member of Torch.
“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 mentioned.
“We’re confident that joining Torch gives us the best possible opportunity to help companies solve this question in this crucial moment.”
