Conduct
London-based enterprise-AI company founded in 2024 by three ex-Palantir engineers; builds agentic AI to automate complex business-process migrations, starting with SAP ERP transitions.
Conduct, the London enterprise-AI startup, raised a $60m Series A on 17 June 2026 co-led by Index Ventures and ICONIQ, with SAP investing strategically and embedding Conduct's product inside its own go-to-market motion.
Last refreshed: 3 August 2026 · Appears in 1 active topic
Why did SAP invest in Conduct rather than build the same tool in-house?
Timeline for Conduct
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UK Startups and Innovation: Conduct takes $60m as SAP buys inBackground
Conduct was founded in 2024 by three ex-Palantir engineers, CEO JP Haas, Philipp Hoefer and Henry Thompson, and builds what it describes as an 'AI operating system for enterprise software'. Its core proposition reads a company's legacy custom code and maps each routine to a named business function, so non-technical stakeholders can understand what their SAP system actually does before migrating.
DHL and Fraport are named among Conduct's early customers, and the company plans a New York office. Conduct is positioning itself as the tool enterprises reach for when legacy complexity makes a straightforward lift-and-shift migration impractical.
SAP invested in its own replacement
Conduct raised a $60m Series A on 17 June 2026, co-led by Index Ventures and ICONIQ, with SAP investing strategically and embedding the product inside its own go-to-market motion, giving the 38-person London company direct access to SAP's customer base. The deal brings Conduct's total funding to roughly $72m.
SAP's ECC platform reaches end of mainstream support on 31 December 2027, with an estimated 17,000 of 35,000 ECC customers not yet migrated. SAP backing the tool that automates those migrations, rather than building one itself, signals it sees the legacy-code-mapping problem as better solved by a specialist than by an internal team competing for the same roadmap priority.
