Arizona Tribune - Conduct Raises $60 Million Series A Round from Index, ICONIQ, and SAP

LONDON, UK / ACCESS Newswire / June 17, 2026 / Conduct today announced a $60 million Series A, co-led by Index Ventures and ICONIQ, with strategic investment from SAP and participation from existing investors Creandum, Lucid Capital and Booom. Conduct is the AI operating system that lets enterprises understand, operate, and change the complex software systems they run on.

Conduct reduces the time between a business decision and its execution in the systems that run the business so that products, services, and organisations can change and move faster. Large enterprises run on systems that have been customised tens of thousands of times over decades to reflect how the business actually works: its procurement rules, manufacturing workflows, approval chains, and supply-chain dependencies. To change or update these critical processes before Conduct meant reading millions of lines of custom code manually, reverse-engineering integrations, tracing undocumented dependencies, and waiting for handoffs between internal teams and consultants, all of which likely took weeks or months.

Conduct removes this constraint. The platform ingests custom code, configuration, dependencies, and integrations across these core software systems and maps how every technical component connects to the business logic it serves. Teams can ask 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. Conduct then generates the code, tests, and implementation work required to make the change safely and at pace. A company that needs to open a new factory, change its pricing model, or respond to a new regulation no longer has to wait months to understand its own systems before implementing the change. It moves at the speed of the decision.

The company's growth is accelerating as thousands of enterprises push to make their critical software AI-ready whilst they migrate their SAP landscapes to SAP Cloud ERP ahead of the end of mainstream support for SAP ERP Central Component (SAP ECC).

"Every major enterprise is being asked where its AI results are," said Jan Philipp Haas, CEO and co-founder of Conduct. "The honest answer, in most organisations, is that 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, because an agent can only act on a system it understands. Conduct makes those systems legible and operable. That is the foundation everything else depends on."

The founding team built this company from direct experience of the problem. All three founders came from Palantir: JP Haas led commercial work across the DACH region, Philipp Hoefer led Palantir's AI platform product strategy for European enterprise, and Henry Thompson led commercial engineering for Palantir Japan. Across those roles, each saw how much effort inside large organisations is consumed not by decisions, but by the work of understanding what existing systems actually contain before any change can begin. That observation became the founding thesis for Conduct.

Conduct already works with some of the world's most operationally complex enterprises, including Fraport and DAX40 companies Daimler Truck, Heidelberg Materials, and DHL. Across its customer base, teams are seeing acceleration of 30% or more in transformation workstreams and time-to-value for new features.

"Enterprise systems were built to be customised," said Sahir Azam, Partner at Index Ventures and previous CPO at MongoDB. "That is why they are so powerful and also why they have become so difficult to operate. We are now seeing agents take over work that used to require entire teams of people, whether that is writing code, handling customer support, or running back-office operations. Conduct is going after one of the largest and least visible pools of that work: the manual labour required to manage complex enterprise IT systems at the core of business."

"Execution speed is a critical challenge of the AI era, but core systems of record were built for stability, not change," said Seth Pierrepont, General Partner at ICONIQ. "Conduct helps make the decades of business logic trapped inside those systems understandable and executable for the first time, removing the bottleneck at its source. We believe this makes it essential infrastructure for the next generation of enterprise AI."

Alongside its investment, SAP recently named Conduct as a strategic AI partner for transformation with SAP Cloud ERP applications. Conduct has also established partnerships with BCG and NTT DATA Business Solutions, two of the world's largest SAP transformation partners, to support the delivery of enterprise software transformation programs.

Conduct will use the new capital to expand its engineering and go-to-market teams, deepen its SAP capabilities, and accelerate work across Salesforce, Oracle, MES, WMS, and other systems. The company has a team of approximately 35 people in London and is hiring in the United States.

About Conduct

Conduct is the AI operating system that lets enterprises understand, operate, and change the complex software systems they run on. The company reduces the time between a business decision and its execution in software by mapping the business logic buried inside decades of customization and making it understandable, actionable, and executable. Founded by former Palantir leaders JP Haas, Philipp Hoefer, and Henry Thompson, Conduct works with some of the world's most operationally complex enterprises, including Daimler Truck, Heidelberg Materials, Fraport, DHL, among others. Conduct is also a strategic AI partner for transformation with SAP Cloud ERP applications, and has established partnerships with BCG and NTT DATA Business Solutions.

SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies.

Contact details

Josef Laor
[email protected]

SOURCE: Conduct

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