Singapore-based Vertex leads RapidCanvas’s US$29m funding round
Vertex Ventures SEA & India backs a business combining AI software with field engineers. US$29 million is the total Series B round; Vertex’s individual contribution was not disclosed.
Singapore-based Vertex Ventures SEA & India has led a US$29 million Series B round for RapidCanvas, backing an enterprise-AI business that combines software with engineers who build and support customers' applications.
The financing, announced on 16 October, also included Hitachi Ventures and existing investors Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures. It takes RapidCanvas's total funding to US$52.5 million. Neither the company nor Vertex disclosed the size of Vertex's contribution to the round.
Backing software with hands-on delivery
RapidCanvas pairs its AI platform with field engineers who learn a customer's processes, develop applications and remain responsible for their outcomes after delivery, according to the company. It sells that combination through subscription pricing.
The platform captures business context, helps engineers build applications using a library of reusable capabilities, and manages applications once they are operating. Its customers span manufacturing, financial services, retail, business services and infrastructure.
Vertex general partner Piyush Kharbanda described the combination of a platform and engineers responsible for delivery as part of the investment rationale. He also cited customers expanding into additional uses and business functions.
Where the new funding is directed
RapidCanvas plans to expand its sales and market-development teams and its network of private-equity and advisory partners. Those partners bring the company's services to businesses in their portfolios or client networks. It also plans to grow its field-engineering teams in the United States, Brazil and India.
Product investment will cover the system that captures enterprise context, the reusable software library and the tools used to govern applications in operation. The company has not disclosed how the proceeds will be divided among those activities.
RapidCanvas said more than 40% of its customers now run multiple AI use cases in production. It also reported that more than 75 enterprises had made 1.4 million AI-led decisions using its applications so far in 2026. The figures were disclosed with the funding announcement.
Sources: RapidCanvas funding announcement; Vertex Ventures SEA & India funding announcement; Vertex Ventures SEA & India investor profile.
