Know what’s really happening at
Conduct before you sign on.
- On the roadmap
- Enterprise AI
- ERP Modernization
Conduct, founded by three ex-Palantir engineers, builds an 'AI operating system for enterprise software' that maps the custom code inside SAP and other core systems to the business functions it controls. Backed by Index Ventures, ICONIQ and SAP itself, it is going after work traditionally billed by system-integrator armies.
How we do it.
Most "AI market intel" is a summarized crawl of press releases. This Altis research is built from our knowledge graph of sector expert calls, synthesized with public sources.
Conduct
- Series A co-led by Index Ventures and ICONIQ (June 2026)
- $60M
- Seed round led by Creandum (September 2025)
- €11.2M
- Total funding raised
- ~$72M
- Founded in London by three former Palantir engineers
- 2024
- Team size at the Series A
- ~35
- Claimed cost savings in key migration phases (company figure)
- 50 to 80 percent
- SAP ECC customers still to migrate before the 2027 deadline
- 17,000
Press reported
Altis Verified
What's in the report
Most "AI market intel" is a summarized crawl of press releases. This is what customers, competitors, and former employees actually told us.
Market Overview
Market structure, where the company sits, and growth drivers.
- market map
- Enterprise AI landscape
- Enterprise AI growth rate
- CAGR
Total Addressable Market
Bottom-up TAM / SAM / SOM.
- Conduct TAM
- Enterprise AI market size
- market opportunity
Company Overview
What the company does and how it operates.
- what does Conduct do
- Conduct product
- business model
Product / Go-to-Market
Product, GTM motion, ICP, and who buys.
- Conduct customers
- who uses Conduct
- Conduct ICP
- go-to-market
Competitive Dynamics
The Altis Market Map and the Altis Win-Rate Index.
- Conduct competitors
- Conduct alternatives
- who competes with Conduct
- Conduct win rate
Customer Signals
Retention, satisfaction, and win/loss signals.
- Conduct reviews
- Conduct NRR
- Conduct churn
- current customers
- switching costs
Investment Debates
Investment thesis, moat, bull/bear, and key risks.
- Conduct investment thesis
- Conduct moat
- bull case bear case
- Conduct risk factors
Monetization & Financials
Business model, revenue model, and unit economics.
- Conduct ARR
- Conduct revenue
- Conduct valuation
- unit economics
Team and culture
Founders, leadership, and org.
- Conduct founders
- Conduct CEO background
- leadership team
- headcount
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Based on public reporting and company disclosures as of July 2026.