Strategic investment
SAP has also recognized the importance of this technology and invested in Conduct as part of a Series A financing round worth over 60 million dollars. The financing round is led by Index Ventures and ICONIQ. Existing investors Creandum, Lucid Capital and Booom are also participating.
The participation is particularly interesting for SAP given the ongoing cloud migrations. The company says it has already selected Conduct as its strategic AI partner for SAP Cloud ERP transformations.
“Companies that complete their migration journey and establish a clean, cloud-native core will be best positioned to unlock the value of AI. Conduct is a critical enabler of this transformation,” explains Sebastian Steinhaeuser, COO of SAP.
Conduct also works with consulting and implementation partners such as BCG and NTT DATA Business Solutions.
Conduct was founded by former Palantir managers. CEO Haas was most recently responsible for the commercial business in the DACH region. The start-up’s customers say they include Daimler Truck, Heidelberg Materials, DHL and Fraport – all SAP customers.
Conduct plans to use the fresh capital to expand its development and sales teams as well as support additional enterprise applications such as Salesforce, Oracle and manufacturing and warehouse management systems, it said.
