Conduct raises $60m to fix enterprise software chaos

Key Takeaways

• Conduct raised $60m Series A just nine months after its $11m seed round
• SAP made a strategic investment and is embedding Conduct into its products
• The startup plans to grow from 38 to 100 employees by year-end, opening a New York office

Conduct, founded by three former Palantir engineers, has raised $60 million in Series A funding to build what it calls an agentic AI operating system for large enterprises. Index Ventures and Iconiq led the round, with SAP making a strategic investment that includes embedding Conduct's technology directly into its products. The London startup closed this round less than nine months after raising $11 million in seed funding.

The pitch is straightforward: big companies run on software that has accumulated decades of custom business logic. When a tariff changes or a supplier shifts, understanding how to modify these systems takes months of digging through code, interviewing employees, and reverse engineering processes nobody fully documented. Conduct claims its AI agents can do that synthesis automatically.

What does Conduct actually do?

The company's platform analyzes the business logic spread across an enterprise's various software systems. Rather than requiring engineers to manually trace how a pricing rule in one system affects inventory in another, Conduct's AI agents map these connections and explain them in terms business users can understand.

“We can then enable the teams internally, and external consultants, to make changes at the snap of a finger instead of taking months combing through the code bases, speaking to business users and reverse-engineering what's going on.”

— JP Haas, CEO and co-founder of Conduct

DHL and Fraport, the company that operates Frankfurt Airport among others, are already customers. For logistics companies dealing with shifting trade policies and supply chain disruptions, the ability to quickly understand and modify software systems has obvious value.

Why SAP's involvement matters

The strategic investment from SAP is arguably more significant than the headline funding number. SAP's enterprise resource planning software runs core operations at thousands of large companies. By embedding Conduct into SAP products, the startup gains distribution that would otherwise take years to build.

This also validates Conduct's technical approach. SAP has every resource to build its own AI tools for analyzing enterprise software. Choosing to invest in and integrate with a 38-person startup suggests Conduct has built something SAP couldn't easily replicate. The Palantir pedigree likely helped here. All three founders worked on systems designed to make sense of messy, complex data at government and enterprise scale.

Rapid fundraising signals investor confidence

Nine months between seed and Series A is fast, especially for enterprise software where sales cycles are long. Conduct raised $11 million in late 2024. Now it has $71 million total to prove the concept works at scale.

Creandum, Lucid Capital, and Bloom also participated in the round. The company plans to nearly triple its headcount from 38 to 100 by year end, with expansion into New York marking its first US office.

“The ambition is to power all of the enterprise software of the Global 200.”

— JP Haas, CEO and co-founder of Conduct

The competitive landscape for enterprise AI

Conduct enters a crowded market. Every major consulting firm now offers AI-powered software analysis. Microsoft, Google, and AWS are building similar capabilities into their cloud platforms. Startups like Cognition and Magic are tackling adjacent problems in code understanding.

What Conduct bets on is specificity. Generic AI coding assistants struggle with enterprise software because the business logic matters as much as the code itself. A function that calculates shipping costs might work perfectly in isolation but break when combined with a promotional discount rule created fifteen years ago by someone who left the company. Conduct's agents are built to understand these interactions.

What happens next

The immediate priority is hiring. Going from 38 to 100 people means finding senior engineers who understand both AI and enterprise software complexity. The New York office will focus on sales and customer success for US enterprises.

Product development will continue in London. The company needs to prove its platform works across different enterprise software stacks, not just SAP. DHL and Fraport are solid reference customers, but the Global 200 includes companies running Oracle, Salesforce, custom systems, and countless integrations between all of them.

Frequently Asked Questions

What is an agentic AI operating system?

Conduct uses this term to describe AI agents that can analyze, understand, and help modify enterprise software systems. Unlike simple chatbots, these agents work across multiple platforms and understand business logic, not just code syntax.

Who founded Conduct?

Three former Palantir engineers founded Conduct in 2024. JP Haas serves as CEO. The team's background in building data analysis systems for government and enterprise clients informs their approach to enterprise software complexity.

Which companies are using Conduct?

DHL and Fraport are confirmed customers. SAP is both an investor and integration partner, embedding Conduct into its enterprise software products.

How much has Conduct raised in total?

Conduct has raised $71 million total: $11 million in seed funding in late 2024, followed by $60 million in Series A funding led by Index Ventures and Iconiq in 2025.

Source: Sifted