London-based Conduct, an AI OS that help enterprises understand, operate, and change their software systems, today announced a €51 million ($60 million) Series A to expand its engineering and go-to-market teams, deepen its SAP capabilities, and accelerate work across Salesforce, Oracle, MES, WMS, and other systems.
The round was co-led by Index Ventures and ICONIQ, with strategic investment from SAP and participation from existing investors Creandum, Lucid Capital and Booom.
“Every major enterprise is being asked where its AI results are,” says Jan Philipp Haas, CEO and co-founder of Conduct. “The honest answer, in most organisations, is that the systems AI needs to work on today cannot be fully comprehended by humans. Decades of customisation 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.”
“Enterprise systems were built to be customised,” adds Sahir Azam, Partner at Index Ventures and previous CPO at MongoDB. “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.”
Founded in 2024, Conduct reportedly reduces the time between a business decision and its execution in software by mapping the business logic buried inside decades of customisation and making it understandable, actionable, and executable.
Founded by former Palantir engineers; JP Haas, Philipp Hoefer, and Henry Thompson, Conduct is already working with Daimler Truck, Heidelberg Materials, Fraport, DHL, among others.
Across its customer base, teams are seeing acceleration of 30% or more in transformation workstreams and time-to-value for new features.
Alongside its investment, SAP recently named Conduct as a strategic AI partner for transformation with SAP Cloud ERP applications. Conduct has also established partnerships with BCG and NTT DATA Business Solutions, two of the world’s largest SAP transformation partners, to support the delivery of enterprise software transformation programs.
“Execution speed is a critical challenge of the AI era, but core systems of record were built for stability, not change,” says Seth Pierrepont, General Partner at ICONIQ. “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.“
Their technology allegedly reduces the time between a business decision and its execution in the systems that run the business so that products, services, and organisations can change and move faster.
The company explains that large enterprises run on systems that have been customised tens of thousands of times over decades to reflect how the business actually works: its procurement rules, manufacturing workflows, approval chains, and supply-chain dependencies.
Changing or updating these critical processes meant reading millions of lines of custom code manually, reverse-engineering integrations, tracing undocumented dependencies, and waiting for handoffs between internal teams and consultants, all of which likely took weeks or months.
Conduct looks to remove this constraint. The platform ingests custom code, configuration, dependencies, and integrations across these core software systems and maps how every technical component connects to the business logic it serves.
Teams can ask what depends on an approval workflow, which objects are affected by a migration, where a pricing rule lives, or what breaks if a field changes. Conduct then generates the code, tests, and implementation work required to make the change safely and at pace.
A company that needs to open a new factory, change its pricing model, or respond to a new regulation no longer has to wait months to understand its own systems before implementing the change.
