Conduct Secures $60M Series A to Transform Enterprise Software Modernization Before 2027 Deadline

Conduct Lands $60M Series A Funding to Tackle Enterprise Modernization Crisis

Conduct, a London-based startup founded by three former Palantir engineers, has closed a $60 million Series A funding round co-led by Index Ventures and ICONIQ, with strategic investment from SAP 1

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. The investment brings the 35-person company's total funding to approximately $72 million and positions it to address one of the most pressing challenges in enterprise technology: the looming SAP Cloud ERP migration deadline 2

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The timing of this funding round reflects an urgent market need. SAP ends mainstream support for its widely used SAP ECC software on December 31, 2027, leaving roughly 17,000 of its 35,000 ECC customers scrambling to migrate 1

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. These legacy system migration projects typically require 18 to 36 months to complete, meaning many large enterprises are rapidly running out of time to make the transition.

AI Operating System for Enterprise Software Tackles Decades of Custom Code

Conduct has built what it describes as an AI operating system for enterprise software that addresses a fundamental problem: enterprises run on systems customized tens of thousands of times over decades, creating millions of lines of custom code that few employees fully understand 3

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. The platform ingests custom code, configuration, dependencies, and integrations across core software systems and maps how every technical component connects to the business logic it serves.

This custom code analysis capability enables teams to ask critical questions about their systems: 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. The platform then generates the code, tests, and implementation work required to make changes safely and quickly 3

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. According to co-founders JP Haas, Philipp Hoefer and Henry Thompson, "A change that once took five months takes an afternoon" 2

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Strategic Partnership with SAP Validates AI-Driven Software Modernization Approach

In a notable twist, SAP itself has invested in Conduct and named it a strategic AI partner for transformation with SAP Cloud ERP applications 3

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. This partnership signals SAP's recognition that helping customers escape its own legacy ERP systems requires specialized tools. The company has also established partnerships with BCG and NTT DATA Business Solutions, two of the world's largest SAP transformation partners 3

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The platform automates complex tasks like fit gap analysis, a critical component of ERP upgrades where developers create spreadsheets outlining each core feature's current state and upgrade path. Conduct automatically generates these documents, saving weeks of manual work 2

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Enterprise AI Ambitions Extend Beyond SAP Migration Deadline

While the 2027 SAP deadline created immediate market urgency, Conduct's investors see a larger opportunity in enterprise AI. CEO Jan Philipp Haas frames the challenge directly: "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" 3

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This business logic mapping capability positions Conduct as foundational infrastructure for AI agents that need to act on enterprise systems. ICONIQ General Partner Seth Pierrepont noted that "core systems of record were built for stability, not change," and Conduct helps make "the decades of business logic trapped inside those systems understandable and executable for the first time" 3

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Customer Results and Market Competition Shape Growth Trajectory

Conduct already works with operationally complex enterprises including Fraport, Daimler Truck, Heidelberg Materials, and DHL. The company claims customers are seeing acceleration of 30% or more in transformation workstreams and cost savings of 50 to 80 percent in key phases, though these figures come from Conduct itself and are not independently verified 1

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The company faces competition from SAP-owned LeanIX, the $13 billion process-mining firm Celonis, and ServiceNow, all of which operate in overlapping spaces . To accelerate transformation projects beyond its current SAP focus, Conduct plans to use the new funding to add support for products from Salesforce and Oracle, while expanding its U.S. workforce 2

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. The critical test will be whether the platform can establish itself as permanent infrastructure across multiple enterprise systems before the SAP migration rush that built its initial market passes.