Conduct announced that it has raised $60 million in Series A funding to expand its AI operating system for complex enterprise software systems. The round was co-led by Index Ventures and ICONIQ, with a strategic investment from SAP. Existing investors Creandum, Lucid Capital, and Booom also participated.
Conduct is a London-based AI startup that helps large enterprises understand, operate, and change the highly customized software systems that run their businesses. The company’s platform is designed to reduce the time between a business decision and execution inside core enterprise systems.
Large enterprises often run on software systems that have been customized over many years to reflect procurement rules, manufacturing workflows, approval chains, supply-chain dependencies, pricing structures, and other business-critical processes. Conduct said these systems can contain millions of lines of custom code, integrations, configurations, and undocumented dependencies, making change difficult and time-consuming.
Before Conduct, making changes to these systems often required manual code reviews, reverse engineering, integration tracing, and handoffs across internal teams and consultants. This process could take weeks or months before a company could safely implement a change.
Conduct addresses this challenge by ingesting custom code, configuration, dependencies, and integrations across enterprise systems. The platform maps how technical components connect to the business logic they support, allowing teams to understand what depends on a workflow, which objects are affected by a migration, where a pricing rule is located, or what could break if a field changes.
The platform can then generate the code, tests, and implementation work needed to make changes safely and quickly. Conduct said this allows enterprises to move faster when opening new factories, changing pricing models, responding to regulations, or updating critical business processes.
The company’s growth is being driven in part by enterprises working to make their software systems AI-ready while migrating SAP landscapes to SAP Cloud ERP ahead of the end of mainstream support for SAP ERP Central Component.
Conduct already works with several large and operationally complex enterprises, including Fraport, Daimler Truck, Heidelberg Materials, and DHL. The company said customers are seeing acceleration of 30% or more in transformation workstreams and time-to-value for new features.
The company was founded by former Palantir leaders JP Haas, Philipp Hoefer, and Henry Thompson. Haas previously led commercial work across the DACH region, Hoefer led Palantir’s AI platform product strategy for European enterprise, and Thompson led commercial engineering for Palantir Japan.
Alongside SAP’s investment, Conduct was recently named a strategic AI partner for transformation with SAP Cloud ERP applications. The company has also formed partnerships with BCG and NTT DATA Business Solutions to support enterprise software transformation programs.
Conduct plans to use the funding to expand its engineering and go-to-market teams, deepen its SAP capabilities, and accelerate work across Salesforce, Oracle, MES, WMS, and other enterprise systems. The company has about 35 employees in London and is hiring in the United States.
KEY QUOTES:
“Every major enterprise is being asked where its AI results are. The honest answer, in most organizations, is that the systems AI needs to work on today cannot be fully comprehended by humans. Decades of customization have made them opaque, even to the people running them. The same opacity that slows people down stops agents entirely, because an agent can only act on a system it understands. Conduct makes those systems legible and operable. That is the foundation everything else depends on.”
Jan Philipp Haas, CEO and Co-Founder of Conduct
“Enterprise systems were built to be customized. That is why they are so powerful and also why they have become so difficult to operate. We are now seeing agents take over work that used to require entire teams of people, whether that is writing code, handling customer support, or running back-office operations. Conduct is going after one of the largest and least visible pools of that work: the manual labour required to manage complex enterprise IT systems at the core of business.”
Sahir Azam, Partner at Index Ventures
“Execution speed is a critical challenge of the AI era, but core systems of record were built for stability, not change. Conduct helps make the decades of business logic trapped inside those systems understandable and executable for the first time, removing the bottleneck at its source. We believe this makes it essential infrastructure for the next generation of enterprise AI.”
Seth Pierrepont, General Partner at ICONIQ
