RapidCanvas raises $29 million in Series B led by Vertex Ventures SEA & India

RapidCanvas raised $29 million in Series B financing led by Vertex Ventures SEA & India on October 16, 2026. The round brought total funding to $52.5 million, with participation from Hitachi Ventures and existing investors. RapidCanvas combines an AI platform with field engineers to build and manage custom AI applications for enterprises at subscription pricing. Annual recurring revenue grew eightfold over six quarters; more than 40% of customers run multiple AI use cases in production. Proceeds will fund sales expansion, partner network growth and field engineering recruitment, alongside investment in the company's three AI platform products. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Vertex Ventures SEA Management Pte Ltd published the original content used to generate this news brief on October 16, 2026, and is solely responsible for the information contained therein. (C)