Founder · RapidCanvas

Uttam Phalnikar

Co-founder of RapidCanvas, an enterprise ai company based in Austin.

Co-founderAustinEnterprise AI
Founded
2021
Austin, Texas, United States
Raised to date
$45M
2 rounds on record
Latest round
Series B
$29M · October 2026

About

Uttam Phalnikar is Co-founder of RapidCanvas, an enterprise ai company based in Austin, founded in 2021. RapidCanvas's most recent disclosed round was a Series B of $29M in October 2026.

Compiled from StartupFox records · updates as coverage is published

Company

Est. 2021
RapidCanvas
Enterprise AI · Austin · Active

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

Funding
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
Company profile →2 rounds on record

Journey with RapidCanvas

2 milestones
  1. 2021Founded

    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.

  2. Oct 2026Milestone

    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.

Also building RapidCanvas

RPRahul PangamCo-founder · CEO→

Coverage

1 story
Funding · 16 Oct 2026 · 5 min read
RapidCanvas Raises $29M on the Bet That AI Pilots Fail for Lack of People, Not Software

Quick answers

Who is Uttam Phalnikar?

Uttam Phalnikar is a Co-founder of RapidCanvas, an enterprise ai company based in Austin, founded in 2021.

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 on record. The latest was a Series B of $29M in October 2026, with Vertex Ventures SEA & India (lead), Hitachi Ventures, Accel.

Where is RapidCanvas based?

RapidCanvas is headquartered in Austin, Texas, United States.

What has StartupFox reported about Uttam Phalnikar?

StartupFox has published 1 story naming Uttam Phalnikar; the most recent is “RapidCanvas Raises $29M on the Bet That AI Pilots Fail for Lack of People, Not Software”.

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Sources & updates

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