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News » Accenture invests in SaaS VR company Praxis Labs

Accenture invests in SaaS VR company Praxis Labs

Accenture invests in SaaS VR company Praxis Labs

NEW YORK, UNITED STATES — Accenture has made a strategic investment in Praxis Labs, a New York-based software-as-a-service virtual reality (VR) company. 

Praxis Labs’ immersive learning platform focuses on developing users’ soft skills to promote workplace equity, inclusion, and value. The investment is part of Accenture’s Black Founders Development Program and its broader Project Spotlight initiative.

Founded in 2019, Praxis Labs strives to make workplaces and society more equitable by blending evidence-based curriculum, immersive VR workplace scenarios, and actionable insights to drive organizational change.

Accenture’s investment demonstrates its ongoing commitment to addressing the disparity in wealth that exists for Black founders. Despite the rising number of Black entrepreneurs and historic VC levels in the ecosystem, Black founders still receive less than 1% of funds invested in the United States.

As part of Project Spotlight, Praxis Labs will have the opportunity to co-innovate with Accenture, gaining access to Accenture’s domain expertise, enterprise clients, and its Innovation Hubs, Labs, and Liquid Studios.

Accenture provides professional services to clients in over 120 countries. The company made $62 billion in revenue in 2022. This marks an increase of $10 billion compared to the previous year. 

Accenture is currently ranked #1 in the Time Doctor OA500, an index of the world’s top 500 outsourcing firms and a vital tool in assisting the BPO decision-making community.

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