Conduct raises $60M to speed up software modernization projects
Conduct AI Ltd today announced that it has raised $60 million in funding to enhance its namesake code modernization platform.
Index Ventures and ICONIQ co-led the Series A investment. They were joined by SAP SE along with returning backers Creandum, Lucid Capital and Booom.
The off-the-shelf software products that companies use often don’t contain all the features they require. As a result, their development teams add custom capabilities such as integrations with external applications. Such modifications can add up over time, which creates technical challenges.
Some enterprises have decades-old software customizations that few employees understand. In many cases, modernizing such components requires hiring outside experts. Another challenge is that legacy customizations’ documentation is often incomplete. Developers must manually uncover details such as whether removing a seemingly unnecessary code file might break an important feature.
