RapidCanvas, an Austin-based managed AI execution company, has secured $29 million in Series B funding led by Vertex Ventures SEA & India, with participation from Hitachi Ventures and existing investors Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures. The round brings total funding to $52.5 million and follows 8x growth in annual recurring revenue over the past six quarters.
The company pairs its AI platform with field AI engineers who learn each customer’s processes, build custom AI applications and remain accountable for outcomes. Its platform combines the Enterprise Context Engine, the Visual Development Canvas and the Operational Harness, offered at subscription pricing. More than 75 enterprises have made 1.4 million AI-led decisions on RapidCanvas-built applications so far in 2026.
Co-founder and CEO Rahul Pangam said AI’s biggest gains have so far gone to the Fortune 100, and that reliably getting AI into production remains the largest gap. Piyush Kharbanda of Vertex Ventures said enterprises are still seeking real returns on AI spending, while Radhika Ananth of Hitachi Ventures said the company is shifting custom AI delivery toward software economics.
The funding will expand go-to-market and partner networks, grow its AI engineering team across the U.S., Brazil and India, and deepen its three products.
