RapidCanvas raises $29 million for enterprise AI apps

RapidCanvas' Series B is led by Vertex Ventures SEA & India and includes Hitachi Ventures, Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures, a broader investor set than its prior round. The company ties the new money specifically to hiring for go-to-market and AI engineering, suggesting the next phase is about scaling sales and delivery rather than building new product categories.

The company sells a single subscription that bundles both development tooling and professional services. Its platform has three named pieces: an Enterprise Context Engine, a library of prepackaged modules, and Operational Harness. RapidCanvas says the platform automates about 60% of the work in building AI applications, and it targets companies with $100 million to $1 billion in annual revenue — a mid-market segment that often lacks large in-house AI teams.

Rahul Pangam, co-founder and CEO, framed the pitch around production reliability rather than initial experimentation, saying "vibe coding has made it easy to start building with AI" but getting AI into production reliably and safely remains the biggest gap. The company's own revenue figure — eightfold annualized growth over the past 18 months — is presented as evidence that enterprise AI buying has shifted from pilots to real operations, though the body does not provide the underlying dollar amounts.