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Enterprise IT startup Conduct raised a $60 million Series A co-led by Index Ventures and ICONIQ, CEO Jan Philipp Haas tells Axios Pro exclusively.

Why it matters: Companies are racing to apply AI to decades-old enterprise software that remains critical to their operations.

How it works: Conduct's AI operating system allows companies to maintain, change and modernize their legacy enterprise software systems.

Many underlying software systems have been customized for a business' specific needs, making them difficult for both human engineers and AI agents to understand.  

Zoom in: SAP made a strategic investment in the round, which was joined by existing investors Creandum, Lucid Capital and Booom.

By the numbers: The company has raised $72 million to date since it was founded in 2024.

Conduct, launched by a trio of former Palantir employees, has 10 enterprise customers, including Daimler Truck, Heidelberg Materials and  DHL, and about 20 in pilot, Haas says.

What they're saying: "We can help make these platforms more AI native," Haas says.

What's next: The London-based startup is looking to open a New York office and grow from roughly 30 employees to more than 100 by year's end.

There is no timeline for a Series B, but Haas says the company is always looking for investors and partners to help it grow.

Exclusive: Conduct raises $60M to make software better

Index Ventures and ICONIQ led the round which will help Conduct move into the U.S.

Illustration of a pattern of rolled up twenty dollar bills. 

Enterprise IT startup Conduct raised a $60 million Series A co-led by Index Ventures and ICONIQ, CEO Jan Philipp Haas tells Axios Pro exclusively.Why it matters: Companies are racing to apply AI to decades-old enterprise software that remains critical to their operations.

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Exclusive: Conduct raises $60M to make software better

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