RapidCanvas raises $29 million to grow teams that put enterprise AI into production

RapidCanvas has raised $29 million to grow a business that pairs AI software with engineers who help customers put it to work. The Series B, announced October 16, was led by Vertex Ventures SEA & India. It will fund team expansion and platform development aimed at moving enterprise AI projects beyond experiments and into daily operations.

Hitachi Ventures joined as a new investor, alongside existing backers Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures. RapidCanvas said the financing brings its total funding to $52.5 million. The company plans to expand its go-to-market teams and its network of private equity and advisory partners, as well as its engineering presence.

Its target customers are businesses with annual revenue of $100 million to $10 billion. RapidCanvas sells subscriptions to enterprises that have budgets for AI but lack the internal expertise to move beyond pilot projects. That customer profile puts implementation—not simply access to an AI tool—at the center of the company’s offering.

RapidCanvas pairs its platform with field AI engineers: engineers who learn a customer’s business processes, design applications and build them for that organization. Their role continues after delivery, with responsibility for the applications’ outcomes. The model combines software with hands-on engineering work rather than leaving customers to handle implementation entirely themselves.

The planned hiring will grow that field engineering team across India, the United States and Brazil. Co-founder and CEO Rahul Pangam frames the opportunity as extending AI’s benefits beyond the largest companies. He said its biggest wins have so far gone to the Fortune 100, while getting applications running reliably and safely remains a gap.

Lead investor Vertex is backing that combination. General partner Piyush Kharbanda said most enterprises are still seeking real returns on AI spending. He argued that RapidCanvas addresses the problem through a platform that improves with deployments and engineers who own the outcome end to end. That is the investor’s case for the model.

Vibe coding has made it easy to start building with AI. Getting AI into production reliably and safely still remains the biggest gap.

Rahul Pangam, RapidCanvas co-founder and CEO, in a statement

The spending plan also covers the software behind those deployments. RapidCanvas said it will invest in three named parts of its platform, with work spanning enterprise context, the skills available for application development and governance. These are planned investments accompanying the financing, not a separate product release announced with the round.

• Enterprise Context Engine: deepen this component of the platform.
• Visual Development Canvas: expand the skills library behind the development tool.
• Operational Harness: strengthen governance within this part of the platform.

Founded in 2021 by Pangam and Uttam Phalnikar, RapidCanvas says its annual recurring revenue grew eightfold over the past six quarters. It also says more than 75 enterprises made 1.4 million AI-led decisions through applications built on its platform so far in 2026. Those enterprises span manufacturing, financial services, retail, business services and infrastructure.