RapidCanvas raises $29 million to scale enterprise AI delivery

RapidCanvas has raised $29 million in a Series B led by Vertex Ventures Southeast Asia & India, with Hitachi Ventures and existing investors Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures participating.

RapidCanvas plans to use the financing to expand its go-to-market teams and its network of private-equity and advisory partners, hire field AI engineers in the United States, Brazil and India, and develop the three products in its enterprise AI platform. RapidCanvas said the round brings its total disclosed funding to $52.5 million. It did not disclose a valuation, the ownership sold or other financing terms.

RapidCanvas’s subscription combines its software with field engineers, rather than leaving customers to handle deployment alone. Those engineers learn a customer’s processes, design and build custom AI applications, and remain accountable for them after deployment. That makes the hiring plan central to the company’s pitch: the financing backs both the platform and the people who put it into production.

The platform has three components. Its Enterprise Context Engine captures business-process information such as requirements, data definitions and decision history. A Visual Development Canvas lets engineers assemble applications using reusable software components, while an Operational Harness manages and governs those applications in production.

RapidCanvas said its annual recurring revenue increased eightfold over the six quarters before the announcement. It did not provide the underlying revenue figures or an independent audit. RapidCanvas also said more than 40% of customers run multiple AI use cases in production and that more than 75 enterprises made 1.4 million “AI-led decisions” with its applications during 2026. The company did not disclose customer-level evidence or define how it counted an AI-led decision, and the available sources do not independently substantiate those adoption figures.

RapidCanvas previously announced a $16 million Series A in December 2024, led by Peak XV Partners with Titanium Ventures, Accel and Valley Capital Partners participating. At the time, the company said it had raised more than $23.5 million since its 2021 founding.