Conduct, a London-based startup using agentic AI to provide insights to businesses on custom software, has closed a $12m (£8.89m) seed round.
Launched by former staff at Palantir, the company’s aim is to modernise Enterprise Resource Planning (ERP) systems.
Founded in 2024, Conduct is initially focusing on using its agentic AI to help companies understand the complexities of custom SAP systems – with SAP being the largest ERP provider in the world.
Conduct’s AI tool allows users to query the custom features of their SAP system and understand how they differ from the standard.
“We believe that IT should be the core growth engine of every enterprise but today CEOs repeatedly tell us that IT is becoming a blocker to business outcomes,” said Jan Philipp Haas, co-founder and chief executive of Conduct.
Haas said around 4% of enterprise revenue is spent on system maintenance.
“Counterintuitively, this is not driven by new code generation, but by having to manually decipher how complex systems spanning millions of lines of code actually work,” he said.
“Conduct’s AI agents drastically reduce the resource burden of software maintenance, allowing IT teams to focus on system innovation that drives revenue and productivity gains.”
The investment round was led by Creandum and included funding from Lucid Capital, Booom and a handful of angel investors.
“Enterprises need a way to continuously understand, improve, and future-proof their core systems. Conduct’s AI platform does exactly that,” said Creandum general partner Peter Specht.
“We are thrilled to back a team with deep enterprise DNA and a relentless focus on customer value from day one.”