A London-based AI startup founded by three former Palantir employees, which is looking to modernise ERP systems, has raised $60m in new funding.
The Series A investment in Conduct was co-led by new investors Index Ventures and Iconiq, with a strategic investment from another new investor, SAP, with participation from existing investors Creandum, Lucid Capital and Booom.
Conduct has raised around $72m in total, following a $12m seed round last year.
Conduct is an enterprise AI startup that helps companies understand, operate and modernise complex legacy ERP (Enterprise Resource Planning) systems, particularly SAP ones, which is the dominant ERP provider.
Its software analyses code and configurations across enterprise systems, then uses AI to leverage that data to help companies better understand ERP systems, speed up software changes, support SAP migrations, and cut IT maintenance, it says.
