Key Points
- RapidCanvas raises $29 million Series B led by Vertex Ventures SEA and India
- Total funding reaches $52.5 million after 8x revenue growth in six quarters
- Over 75 enterprises made 1.4 million AI-led decisions using the platform in 2026
RapidCanvas, a managed AI execution company, has raised $29 million in Series B funding as enterprises increasingly seek to move artificial intelligence projects from pilots to production environments.
The round was led by Vertex Ventures SEA and India, with participation from Hitachi Ventures and existing investors including Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures. The funding brings the company’s total capital raised to $52.5 million.
The investment follows what the company described as eightfold growth in annual recurring revenue over the past six quarters. More than 40 per cent of RapidCanvas customers now operate multiple AI applications in production settings, according to the company.
“AI can be the great equaliser, but so far its biggest wins have gone to the Fortune 100. We want to give every enterprise the same opportunity,” said Rahul Pangam, co-founder and chief executive officer of RapidCanvas. “Getting AI into production reliably and safely still remains the biggest gap. Our growth over the past six quarters is evidence that AI in enterprises is moving beyond pilots into production and real operations.”
Enterprise AI
RapidCanvas operates what it calls a hybrid approach, combining its AI platform with field engineers who work directly with customers. These engineers learn a customer’s business processes, build custom AI applications and remain accountable for the outcomes after deployment.
The company’s platform comprises three products. The Enterprise Context Engine captures how a business process operates, from requirements and institutional knowledge to data schemas and decision history. The Visual Development Canvas allows engineers to build AI solutions using a library of pre-built components that the company says provides a 60 per cent head start on new projects. The Operational Harness manages and governs AI solutions once deployed.
In 2026 so far, more than 75 enterprises across manufacturing, financial services, retail, business services and infrastructure have made 1.4 million AI-led decisions using applications built on RapidCanvas, according to the company.
Mid-market focus
The company targets enterprises with revenues between $100 million and $10 billion, a segment it describes as underserved by current AI offerings. These companies often have AI budgets and executive mandates but lack the internal expertise to deliver results, according to RapidCanvas.
By the numbers
Key figures from this story- $29 million
- Series B funding raised
- $52.5 million
- Total funding to date
- 1.4 million
- AI-led decisions made by customers in 2026
In conversations with more than 400 business leaders, the company found that most C-level executives expect a return on AI investment within six to 12 months, yet few have progressed beyond pilots and proofs of concept.
“Most enterprises are still searching for real returns on their AI spend. RapidCanvas delivers them by pairing an AI platform that compounds with every deployment and forward-deployed engineers who own the outcome end to end,” said Piyush Kharbanda, general partner at Vertex Ventures SEA and India. “The proof is in the customer pull: enterprises keep expanding into new use cases and functions.”
RapidCanvas will use the Series B funding to expand its go-to-market teams and grow its network of private equity and advisory partners who bring AI execution services to their portfolio companies. The company will also increase its field engineering team across India, the US and Brazil, while investing in further development of its three platform products.
Your Questions, Answered
How much funding has RapidCanvas raised in total?
RapidCanvas has raised $52.5 million in total funding, including the latest $29 million Series B round led by Vertex Ventures SEA and India.
What does RapidCanvas do?
RapidCanvas is a managed AI execution company that combines an AI platform with field engineers to help enterprises build and deploy custom AI applications. The platform includes tools for capturing business context, building solutions and managing deployed AI.
Which enterprises does RapidCanvas target?
RapidCanvas targets mid-market enterprises with revenues between $100 million and $10 billion that have AI budgets and executive mandates but lack the internal expertise to move AI projects from pilots to production.
How will RapidCanvas use the Series B funding?
The company will expand its sales and marketing teams, grow its field engineering presence across India, the US and Brazil, and invest in developing its three platform products.
