AUSTIN, Texas, Oct. 16, 2026 (GLOBE NEWSWIRE) — RapidCanvas, the managed AI execution company pioneering the Hybrid Approach to deliver custom AI solutions at SaaS economics, has raised $29 million in Series B funding led by Vertex Ventures SEA & India with participation from Hitachi Ventures. Existing investors Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures also participated in the round. The financing brings total funding to $52.5 million. The raise follows 8x growth in annual recurring revenue over the past six quarters as enterprises demand outcomes from custom AI in production. More than 40% of RapidCanvas’ customers now run multiple AI use cases in production.
RapidCanvas pairs its AI platform with field AI engineers to deliver custom AI solutions. AI engineers learn each customer’s business processes, design and build custom AI applications, and stay accountable for the applications’ outcomes after delivery. The RapidCanvas AI platform brings together three products: The Enterprise Context Engine™ lets an enterprise capture how a business process runs, from requirements and tribal knowledge to data schemas and decision history, and the enterprise owns that context. The Visual Development Canvas lets AI engineers rapidly build custom AI solutions that meet industry benchmarks, drawing on a skills library that gives each new solution a 60% head start from proven, benchmarked code. The Operational Harness manages and governs AI solutions once they’re deployed in production. RapidCanvas offers its Hybrid Approach at subscription pricing, changing the economics of enterprise AI.
So far in 2026, more than 75 enterprises in manufacturing, financial services, retail, business services and infrastructure have made 1.4 million AI-led decisions with applications built on RapidCanvas.
“AI can be the great equalizer, 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 CEO of RapidCanvas. “Vibe coding has made it easy to start building with AI. 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.”
RapidCanvas serves an underserved market: enterprises with $100 million to $10 billion in revenue that have AI budgets and C-suite mandates but no proven path to outcomes. These companies are caught between services firms that charge millions and take months to deliver, and do-it-yourself platforms that require specialized AI talent most of them don’t have. In conversations with more than 400 business leaders, RapidCanvas found that most C-level executives expect a return on AI within six to 12 months, yet very few have moved 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 field AI engineers who own the outcome end to end. The proof is in the customer pull: enterprises keep expanding into new use cases and functions. We’re excited to lead this Series B and back a team that has built and scaled this playbook before.” said Piyush Kharbanda, General Partner at Vertex Ventures SEA & India.
“Enterprise AI will ultimately be measured by the economics of delivering outcomes at scale. RapidCanvas combines hands-on engineering with a productized platform, allowing what starts as custom delivery to become increasingly repeatable and scalable. That shift from services economics toward software economics is core to our AInomics thesis at Hitachi Ventures, and we’re glad to partner with the team as they scale,” said Radhika Ananth, Head of India and Investment Director at Hitachi Ventures.
RapidCanvas will use the Series B funding to grow its go-to-market teams and expand its network of private equity and advisory partners, who bring managed AI execution to their portfolio companies and clients as a repeatable path to value. It will also grow its field AI engineering team across the U.S., Brazil and India. The company will invest in all three of its products: deepening the Enterprise Context Engine, growing the skills library behind the Visual Development Canvas, and strengthening governance in the Operational Harness.
About RapidCanvas
RapidCanvas is a managed AI execution company that takes organizations from concept to production to scaled transformation. The RapidCanvas Hybrid Approach™ pairs elite human experts with a purpose-built agentic platform, delivering solutions that are human-led, agent-executed, and outcome-first. Partners include leaders in manufacturing, retail/consumer goods, financial services, business services, supply chain, and infrastructure. Recognized as a top 5 Data Science and Machine Learning platform by G2. See rapidcanvas.ai.
About Vertex Ventures Southeast Asia & India
Vertex Ventures Southeast Asia & India is a leading early-stage venture capital firm focused on partnering with high-growth startups across Southeast Asia and India. With a strong network and strategic expertise, they have invested in successful companies such as Grab, FirstCry, Nium, Licious, Kuku FM, Abacus Digital, RPG Commerce and PatSnap, driving innovation and scaling businesses across various sectors. See – https://www.vertexventures.sg
Media Contact
Justin Finnegan
SamsonPR for RapidCanvas
917-952-4752
rapidcanvas@samsonpr.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5f7342ce-03f7-429f-a18e-5e74c19aad15
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