Conduct Raises €51M for AI Enterprise System Modernization

Conduct, a London-based firm founded by former Palantir engineers, has successfully closed a €51 million ($60 million) Series A funding round. The capital injection, co-led by prominent venture capital firms Index Ventures and ICONIQ, alongside strategic investment from SAP and existing backers Creandum, Lucid Capital, and Booom, will fuel the company's mission to make complex enterprise software systems amenable to artificial intelligence integration.

The funding will be instrumental in expanding Conduct's engineering and go-to-market teams. A significant portion will also be dedicated to enhancing its capabilities within the SAP ecosystem, while accelerating development for other major enterprise platforms such as Salesforce, Oracle, MES, and WMS. This strategic expansion aims to solidify Conduct's position as a critical enabler for AI adoption within large organizations.

Jan Philipp Haas, CEO and co-founder of Conduct, highlighted the pressing need for such a solution. "Every major enterprise is being asked where its AI results are," Haas stated. "The reality is that the underlying systems are often too opaque, even to their operators, due to decades of customization. This lack of comprehension prevents AI agents from effectively interacting with and operating these systems. Conduct bridges this gap, making these complex systems understandable and actionable, which is fundamental for any advanced AI deployment."

This funding round aligns with a broader trend observed in 2026, where investment has consistently flowed into enterprise AI infrastructure, agent governance, and workflow automation. Comparable recent funding rounds for companies like Qorelo (ERP transformation), Zalos (AI agents for finance), Interloom and Cognee (knowledge infrastructure), and NeuralTrust (AI agent governance) underscore the market's focus on software layers that facilitate AI deployment on existing infrastructure rather than demanding wholesale system replacement.

Sahir Azam, Partner at Index Ventures and formerly CPO at MongoDB, commented on the strategic importance of Conduct's work. "Enterprise systems are powerful precisely because they are highly customizable, but this has also made them incredibly difficult to manage," Azam explained. "As AI agents increasingly take on complex tasks, Conduct addresses a massive, often overlooked, area of work: the manual effort required to operate intricate IT systems at the heart of businesses." Conduct, established in 2024, reportedly slashes the time between business decisions and their execution by deciphering and operationalizing the business logic embedded within legacy code.

The company's impressive early traction includes partnerships with industry giants like Daimler Truck, Heidelberg Materials, Fraport, and DHL. These clients are reportedly experiencing acceleration of over 30% in transformation initiatives and faster time-to-value for new features. Further validating its market position, SAP has named Conduct a strategic AI partner for transformations involving its Cloud ERP applications. Complementary partnerships with leading SAP implementation firms, BCG and NTT DATA Business Solutions, are also in place to support enterprise software transformation programs.

Seth Pierrepont, General Partner at ICONIQ, emphasized the critical role of Conduct in the current technological shift. "Execution speed is paramount in the AI era, yet core systems were built for stability, not rapid change," Pierrepont noted. "Conduct unlocks decades of trapped business logic, removing a fundamental bottleneck. We see this as essential infrastructure for the next generation of enterprise AI." The company's technology promises to significantly reduce the latency between strategic business decisions and their implementation within operational systems, enabling organizations to adapt and innovate at an accelerated pace.