A $29 million Series B funding round for RapidCanvas, an enterprise artificial intelligence firm, closed Friday with Vertex Ventures SEA & India leading the investment. Hitachi Ventures joined the financing alongside returning backers Accel, Peak XV Partners, Valley Capital Partners, and Titanium Ventures, each of which had committed capital in prior funding cycles.

With the latest round included, the company has now raised a cumulative $52.5 million in outside capital. Proceeds are earmarked for building out sales and marketing headcount and deepening ties with private equity firms and advisory partners, the company stated. Plans are also underway to expand the field AI engineering workforce across three markets — India, the United States, and Brazil.

The funding round, the company said, followed annual recurring revenue growing roughly eightfold across six consecutive quarters, driven by corporate clients seeking measurable results from bespoke AI deployments in live environments. According to the company, more than four in ten of its clients are now deploying the platform across several AI applications simultaneously in live environments.

RapidCanvas delivers tailored AI solutions through a model that combines its technology platform with on-the-ground engineers working directly in client environments. In that workflow, engineers with AI expertise map out each client's operational procedures, construct tailored applications, and remain responsible for how those tools perform once handed over.

Three components make up the platform's offering. The Enterprise Context Engine gives an organisation a way to document how its business processes function — pulling together requirements, institutional knowledge, data schemas, and the history behind past decisions — with full ownership of that accumulated context remaining in the organisation's hands. The Visual Development Canvas, designed for AI engineers, offers a drag-and-drop environment where tailored AI solutions can be assembled and tested against established industry standards. The Operational Harness provides oversight and governance of AI tools once those tools enter live production environments.

Through the first part of 2026, the RapidCanvas platform had been used by more than 75 organisations spanning manufacturing, retail, financial services, business services, and infrastructure to process a combined 1.4 million decisions through AI-powered applications, the company reported.

RapidCanvas targets mid-market companies — those generating between $100 million and $10 billion annually — where dedicated AI funding and executive-level directives are already in place. A company spokesperson noted that the broader promise of AI as a levelling force across industries has, to date, delivered its most tangible returns to the largest corporations.

Pangam, who co-founded RapidCanvas and serves as its chief executive, described the company's aim as putting AI-building tools within reach of any enterprise, adding that vibe coding had lowered the barrier to getting started with AI development. Deploying AI systems at scale — with consistent reliability and adequate safety measures in place — continues to represent a gap the industry has yet to close, according to the company.

The company's expansion across six consecutive quarters was cited by the company as an indicator that artificial intelligence deployment within large organisations has moved past the trial phase into active use, though many of those same organisations are still working to demonstrate measurable returns on their AI investments. The company pairs an AI platform that grows stronger with each rollout alongside engineers who take full responsibility for results from start to finish.

Piyush Kharbanda, a general partner at Vertex Ventures SEA & India, pointed to the steady broadening of use cases and functions among enterprise clients as evidence that genuine demand was driving adoption.