Former Palantir employees raise $60M for AI enterprise startup Conduct
A London-based AI startup founded by three former Palantir employees, which is looking to modernise ERP systems, has raised $60m in new funding. The Series A investment in Conduct was co-led by new in... John Reynolds 4 hours ago Share Share Send email Copy link A London-based AI startup founded by three former Palantir employees, which is looking to modernise ERP systems, has raised $60m in new funding.
Key Takeaways
- The Series A investment in Conduct was co-led by new investors Index Ventures and Iconiq, with a strategic investment from another new investor, SAP, with participation from existing investors Creandum, Lucid Capital and Booom.
Conduct has raised around $72m in total, following a $12m seed round last year.
- Its software analyses code and configurations across enterprise systems, then uses AI to leverage that data to help companies better understand ERP systems, speed up software changes, support SAP migrations, and cut IT maintenance, it says.
Conduct's customers include Daimler Truck, Heidelberg Materials, and DHL.
- "Every major enterprise is being asked where its AI results are?
"The honest answer, in most organisations, is that the systems AI needs to work on today cannot be fully comprehended by humans.
- "The same opacity that slows people down stops agents entirely, because an agent can only act on a system it understands.
- What would you like us to deliver to you?
Stats & Key Facts
- #A London-based AI startup founded by three former Palantir employees, which is looking to modernise ERP systems, has raised $60m in new funding.
- #John Reynolds 4 hours ago Share Share Send email Copy link A London-based AI startup founded by three former Palantir employees, which is looking to modernise ERP systems, has raised $60m in new funding.
- #Conduct has raised around $72m in total, following a $12m seed round last year.
- #" ERP code London Write Comment Former Palantir employees raise $60M for AI enterprise startup Conduct Comments Would you like to write the first comment?
John Reynolds 4 hours ago Share Share Send email Copy link A London-based AI startup founded by three former Palantir employees, which is looking to modernise ERP systems, has raised $60m in new funding.
The Series A investment in Conduct was co-led by new investors Index Ventures and Iconiq, with a strategic investment from another new investor, SAP, with participation from existing investors Creandum, Lucid Capital and Booom. Conduct has raised around $72m in total, following a $12m seed round last year. Conduct is an enterprise AI startup that helps companies understand, operate and modernise complex legacy ERP (Enterprise Resource Planning) systems, particularly SAP ones, which is the dominant ERP provider.
Its software analyses code and configurations across enterprise systems, then uses AI to leverage that data to help companies better understand ERP systems, speed up software changes, support SAP migrations, and cut IT maintenance, it says. Conduct's customers include Daimler Truck, Heidelberg Materials, and DHL. The 2024-founded startup says it will use the new funds to expand engineering and go-to-market teams among other areas.
For more details please read the original article at Tech.eu.
Continue Learning
Comments
Sign in to join the conversation