Conduct, a London-based startup building an AI operating system for enterprise software, has raised $60 million in Series A funding. The company's platform helps businesses understand, operate, and modify complex legacy systems such as SAP, Salesforce, and Oracle without requiring full-scale replacements.
The round was co-led by Index Ventures and ICONIQ Capital, the firms announced Tuesday. The financing will be used to expand engineering and go-to-market teams, deepen SAP capabilities, and accelerate integrations with other major enterprise systems including MES and WMS.
Founded by three former Palantir employees, Conduct enters a market where enterprise IT modernisation remains a massive pain point. Existing solutions often require months of manual analysis or risky system overhauls, giving Conduct's software-driven approach a potential edge with enterprise customers seeking faster and less disruptive upgrades.
The raise signals strong investor appetite for AI-native tools targeting back-office infrastructure. As companies grapple with decades-old systems that are expensive to maintain, new approaches that layer intelligence on top of existing architectures are gaining traction.
Conduct has not disclosed its current customer count or revenue. The company notes it is still early in its commercial rollout, and the competitive landscape includes both established consultancy firms and emerging AI middleware providers.