Total Funding: $17 million
What it does: Larridin is a measurement and analytics company focused on how AI is actually used inside organizations.
Its product, Scout, helps companies understand “what’s actually happening in your org with AI.”
Russell Fradin, a cofounder of the company, said its goal is to give companies visibility into the usage and impact of AI.
Scout can be used to answer questions like “what’s actually happening in your org with AI, what’s working, what’s not working, what’s making your employees more productive,” Fradin said.
It can also help answer questions around cost optimization, which typically falls into the realm of consulting firms. “How much more productive is this tool actually making your employees? Should you spend more on it? Should you cancel it? Should you double down?” he said.
Fradin said Larridin isn’t trying to replace consulting firms. Instead, it wants to provide data they can use.
“We’re just trying to build a very large measurement company,” he said.
Why it’s good: “AI is moving faster than any technology revolution in history, and like the internet, it needs independent measurement to prove value,” Alex Rampell, a general partner at Andreessen Horowitz, which led Larridin’s Series A round, told Business Insider. “Larridin identified this gap early and built the right solution, Larridin Scout, at exactly the right time. Every CIO we know is asking how to measure the impact of AI. Now they have an answer.”
