RapidCanvas has raised USD 29 million in a Series B funding round led by Vertex Ventures SEA and India. The enterprise AI company’s total funding now stands at USD 52.5 million.
Hitachi Ventures participated as a new investor. Existing backers Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures also joined the round.
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What The Money Is For
RapidCanvas will use the funding to grow its go-to-market teams. It will also expand its network of private equity and advisory partners. It is also hiring field AI engineers across India, the United States and Brazil.
The hiring plan follows the company’s model rather than a generic expansion. RapidCanvas pairs its AI platform with field AI engineers. They learn a customer’s business processes, build custom applications and stay accountable for the results after delivery.
The Platform
RapidCanvas brings together three products. The Enterprise Context Engine lets a company capture how a business process runs. That covers requirements, institutional knowledge, data schemas and decision history, and the enterprise owns that context.
The Visual Development Canvas lets AI engineers build custom AI solutions against industry benchmarks. The Operational Harness manages and governs the solutions once they are running in production.
That last part is where most enterprise AI projects stall. Building a working model is one problem, and keeping it accurate and governed after deployment is a separate one.
The Numbers
RapidCanvas says the raise follows eightfold growth in annual recurring revenue over the past six quarters. More than 40 percent of its customers now run multiple AI use cases in production.
So far in 2026, the company says more than 75 enterprises have made 1.4 million AI-led decisions using applications built on RapidCanvas. Those customers span manufacturing, financial services, retail, business services and infrastructure.
It targets enterprises with revenue between USD 100 million and USD 10 billion that have AI budgets and C-suite mandates. That is a deliberate slice, since these companies want custom work but cannot build it alone.
What The Founders And Investors Said
Rahul Pangam is co-founder and chief executive officer. He said AI can be a great equaliser, but its biggest wins have gone to the Fortune 100 so far. He said vibe coding made it easy to start building with AI. Getting it into production reliably and safely remains the biggest gap.
Piyush Kharbanda is general partner at Vertex Ventures SEA and India. He said most enterprises are still searching for real returns on their AI spend. He said RapidCanvas delivers them by pairing a platform that compounds with every deployment. Its engineers own the outcome end to end.