There is an unglamorous deadline bearing down on corporate IT, and it has just produced one of London’s more interesting AI raises.
Conduct, a 35-person startup founded by three former Palantir engineers, has raised a $60mn Series A co-led by Index Ventures and ICONIQ, with SAP itself investing. The round takes its total funding to around $72mn.
The company builds what it calls an “AI operating system for enterprise software”. In plain terms, it reads the millions of lines of custom code inside a big company’s core systems and maps each piece back to the business function it controls.
The 2027 clock
The timing is not an accident. SAP ends mainstream support for its widely used ECC software on 31 December 2027, and roughly 17,000 of its 35,000 ECC customers have not yet moved off it, according to Gartner.
