Conduct

-84%

est. 2Y upside i

AI & MLSeed

Conduct’s mission is to make IT the innovation powerhouse of every company. Our agentic AI delivers an in-depth understanding of legacy enterprise software. For the first time ever, you can chat directly with your systems to resolve major business issues in days instead of months. We’re starting where it matters most: SAP, the OS of global business.

Rank

#402

Sector

Enterprise AI, Business Software

Est. Liquidity

~6Y

Data Quality

Data: Medium

Conduct presents a moderate upside opportunity with higher risk, primarily due to the significant incumbent threat from SAP, which is actively integrating AI into its core offerings.

Last updated: February 16, 2026

Bull (15%)+500%

Conduct successfully navigates incumbent threats, rapidly expands its customer base, and secures a strategic acquisition or highly valued follow-on funding round.

Base (40%)+200%

Conduct continues to grow and secures a strong Series A/B round, but faces ongoing competitive pressure from SAP and other market players.

Bear (45%)-70%

SAP's internal AI tools gain significant market share, or Conduct struggles with differentiation and execution, leading to a flat or down round, or a low-value acqui-hire.

Est. time to liquidity~6.0 years