RapidCanvas raises $29M to pair its AI platform with field engineers
The Series B, led by Vertex Ventures SEA & India with Hitachi Ventures, brings the managed AI execution company to $52.5M raised.
RapidCanvas, which calls itself a managed AI execution company, announced a $29 million Series B on October 16. Vertex Ventures SEA & India led, with Hitachi Ventures participating and existing investors Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures following on. Total funding is now $52.5 million.
The company says annual recurring revenue grew 8x over the past six quarters, and that more than 40% of its customers run multiple AI use cases in production. It sells a hybrid model: its software platform plus field AI engineers who build custom solutions for enterprises.
The money goes to go-to-market teams, private equity and advisory partners, and hiring field AI engineers in the US, Brazil and India.
Why it matters for builders
Investors paid for AI that ships in production, even when that takes humans on site. If you sell to companies, you can price hands-on implementation as part of the product.
Sources
Get stories like this every Monday
One tested AI workflow with the prompts, plus 3 news items that matter if you build. Free.
More AI news
- Mistral's Voxtral 3: transcription from $0.0035 a minute and a voice agent SDK built on LiveKit
- DeepSeek open-sources DeepInfer, the inference engine behind V4.1 Flash, under Apache 2.0
- Vercel's durable-harness lets Claude Code, Codex, OpenCode and Pi sessions survive a crash mid-turn
- Claude API adds user profiles, so a safety action can hit one end customer instead of your whole org