$29 million Series B led by Vertex Ventures SEA & India, with Hitachi Ventures joining and Accel, Peak XV, Valley Capital Partners and Titanium Ventures returning. Total funding is $52.5 million.
RapidCanvas pairs its AI platform with field engineers who build each customer's applications and stay accountable for results, the forward-deployed model Palantir made famous.
It targets enterprises with $100 million to $10 billion in revenue that have AI budgets but no in-house AI teams, a segment the largest AI vendors rarely serve directly.
Recurring revenue grew eightfold over six quarters, more than 40% of customers run several AI use cases in production, and 75-plus enterprises made 1.4 million AI-led decisions on its platform in 2…
Margin is the open question: engineers are a services cost, and the case rests on the platform doing more of the work over time. The round adds hiring in India, the US and Brazil.
Read the full story on StartupFox