Conduct raises $60M to speed up software modernization projects

Conduct AI Ltd has secured $60 million in Series A funding to bolster its code modernization platform, led by Index Ventures and ICONIQ, with participation from SAP SE and previous investors. This influx of capital aims to accelerate the company's efforts to help businesses update their outdated software systems, which is increasingly important as organizations strive to adopt more efficient and modern technological solutions. The funding round underscores the growing need for software modernization in an era where legacy systems often hinder innovation and operational efficiency.