RapidCanvas raises US$29 million to make custom AI work for every enterprise

Led by Vertex Ventures SEA & India, the Series B will scale RapidCanvas’ model of pairing its AI platform with field AI engineers who stay accountable for results.

Many enterprises now have AI budgets and C-suite mandates. Far fewer have a proven path to results. RapidCanvas spoke with more than 400 business leaders and 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.

Enterprises with US$100 million to US$10 billion in revenue feel this gap most. Services firms can charge millions and take months to deliver. Building in-house requires specialised AI talent that most of these companies do not have.

RapidCanvas was built for this segment. The company builds custom AI applications for enterprises and runs them in production. Its AI engineers learn how each customer’s business processes work, build the application on the RapidCanvas platform, and stay accountable for the outcome after delivery. Customers pay a subscription rather than a large project fee.

“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.

From pilots to production

The platform brings together three products. The Enterprise Context Engine lets a business capture how a 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 build custom solutions quickly, drawing on a skills library that gives each new solution a 60% head start from proven, benchmarked code. The Operational Harness manages and governs solutions once they are live.

Customer adoption reflects the demand. RapidCanvas has grown annual recurring revenue 8x over the past six quarters. So far in 2026, more than 75 enterprises across manufacturing, financial services, retail, business services and infrastructure have made 1.4 million AI-led decisions with applications built on the platform. More than 40% of customers now run multiple AI use cases in production.

The company sees a wider shift behind these figures. As Pangam put it, getting started with AI has become easy, but getting it into production reliably and safely remains the biggest gap.

Vertex’s perspective

Vertex Ventures SEA & India led the Series B. Piyush Kharbanda, General Partner at Vertex Ventures SEA & India, said: “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. The proof is in the customer pull: enterprises keep expanding into new use cases and functions. Vertex Ventures SEA & India is excited to lead this Series B and back a team that has built and scaled this playbook before.”

What comes next

RapidCanvas will use the 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. It will also grow its field AI engineering team across India, the US and Brazil, and continue to invest in all three products: deepening the Enterprise Context Engine, expanding the skills library behind the Visual Development Canvas, and strengthening governance in the Operational Harness.