RapidCanvas Raises $29M Series B to Scale Enterprise AI Delivery

RapidCanvas has raised $29 million in Series B funding to expand a business built around a persistent enterprise AI problem: getting useful applications into production, then keeping them working as the business changes. The round was 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.

The October 16 announcement puts total funding at $52.5 million and reports eightfold growth in annual recurring revenue over six quarters, without disclosing an absolute revenue figure or valuation. RapidCanvas pairs an agentic software platform with field AI engineers. Its pitch centers on delivering and operating custom applications, rather than handing customers another development tool and leaving implementation to them.

That combination makes the financing a bet on both software reuse and the people needed to translate a company’s processes into reliable automation. The company plans to expand its go-to-market organization, private equity and advisory partnerships, and field AI engineering teams in the United States, Brazil, and India. Product investment will span its Enterprise Context Engine, the skills…