RapidCanvas is an enterprise AI company, headquartered in Austin, Texas, with teams in India, the United States and Brazil, that describes itself as a managed AI execution company. Founded in 2021 by Rahul Pangam, its chief executive and a former Google analytics leader, and Uttam Phalnikar, who previously built the AI risk management company Simility before its acquisition by PayPal, it pairs an AI platform with field AI engineers who learn each customer's processes, build custom AI applications and remain responsible for their outcomes after deployment. Its products are an Enterprise Context
1StartupFox story
2021Founded
Enterprise AISector
Oct 2026Latest coverage
Funding
RapidCanvas has raised $45M across 2 disclosed rounds, most recently a Series B in October 2026.
$45MRaised
Series BLatest round · October 2026
2Events
Chart appears once 1 more funding round is recorded — below that a chart shows less than the table does.
October 2026Series B$29MVertex Ventures SEA & India (lead), Hitachi Ventures, Accel, Peak XV Partners, Valley Capital Partners, Titanium Ventures
December 2024Series A$16MPeak XV Partners (lead), Titanium Ventures, Accel, Valley Capital Partners
Investor roster
Every disclosed backer and how often they've written a cheque — repeat names are the strongest conviction signal on the cap table.
New · Latest leadVertex Ventures SEA & India (lead)1 round · 2026
Accel2 rounds · since 2024
Titanium Ventures2 rounds · since 2024
Valley Capital Partners2 rounds · since 2024
Hitachi Ventures1 round · 2026
Peak XV Partners1 round · 2026
Peak XV Partners (lead)1 round · 2024
Aggregated automatically from the disclosed rounds above.
Founded by Rahul Pangam and Uttam Phalnikar, who previously built the AI risk management company Simility before its acquisition by PayPal, to help enterprises move AI from pilots into production. ↗
December 2024 · funding
Series A — $16M, led by Peak XV Partners (lead).
October 2026 · funding
Series B — $29M, led by Vertex Ventures SEA & India (lead).
Oct 2026 · milestone
Reports eightfold growth in annual recurring revenue over six quarters, with more than 40% of customers running several AI use cases in production and over 75 enterprises making 1.4 million AI-led decisions on its platform in 2026. ↗
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RapidCanvas is an enterprise AI company, headquartered in Austin, Texas, with teams in India, the United States and Brazil, that describes itself as a managed AI execution company. Founded in 2021 by Rahul Pangam, its chief executive and a former Google analytics leader, and Uttam Phalnikar, who previously built the AI risk management company Simility before its acquisition by PayPal, it pairs an AI platform with field AI engineers who learn each customer's processes, build custom AI applications and remain responsible for their outcomes after deployment. Its products are an Enterprise Context
Who founded RapidCanvas?
RapidCanvas's founders and leadership on record at StartupFox are Rahul Pangam and Uttam Phalnikar.
How much funding has RapidCanvas raised?
RapidCanvas has raised $45M across 2 disclosed rounds. The most recent was a $29M Series B in October 2026.
Who are RapidCanvas's investors?
Disclosed investors in RapidCanvas include Vertex Ventures SEA & India (lead), Hitachi Ventures, Accel, Peak XV Partners, Valley Capital Partners, Titanium Ventures, Peak XV Partners (lead).
What is the latest news on RapidCanvas?
The most recent StartupFox coverage is “RapidCanvas Raises $29M on the Bet That AI Pilots Fail for Lack of People, Not Software” (16 October 2026). All stories are listed on this page.
Sources & updates
This profile is compiled by the StartupFox desk from company announcements, regulatory and exchange filings (RoC/MCA, NSE/BSE) and our own reporting. 0 of 2 funding rounds link to a named source.
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