# RapidCanvas raises nearly $29M Series B led by Vertex Ventures and Hitachi Ventures

Digest AI · Business & Funding · published 2026-10-16T03:40:00Z

Canonical: https://digestai.news/story/rapidcanvas-raises-nearly-29m-series-b-led-by-vertex-ventures-and-hita

## Summary

Austin‑based RapidCanvas, which builds agent‑driven platforms for businesses to create custom AI applications, announced a new financing round. The company said it has raised nearly $29 million in a Series B round.

The round was led by venture firms Vertex Ventures and Hitachi Ventures, according to CEO Rahul Pangam in an interview with Axios Pro. Pangam indicated the capital will be used to expand RapidCanvas’s toolset and accelerate deployments for enterprise customers.

RapidCanvas positions its agent framework as a way for firms to develop and launch bespoke AI solutions without building infrastructure from scratch, a model that has attracted growing investor interest in the AI tooling space.

## Key points

- RapidCanvas secured almost $29 million in Series B financing
- Funding round was led by Vertex Ventures and Hitachi Ventures
- CEO Rahul Pangam says the money will expand its agent‑based AI tool platform for businesses

## Why it matters

The investment signals confidence in agent‑based platforms that let companies build custom AI tools quickly, potentially speeding enterprise AI adoption.

## Sources

1. [Austin-based RapidCanvas, which uses agents to help businesses build custom AI tools, raised a ∼$29M Series B led by Vertex Ventures and Hitachi Ventures](https://axios.com/pro/enterprise-software-deals/2026/10/15/agentic-enterprise-rapidcanvas-vertex) (axios.com, 2026-10-16)

## Cite

Digest AI, "RapidCanvas raises nearly $29M Series B led by Vertex Ventures and Hitachi Ventures", 16 October 2026, https://digestai.news/story/rapidcanvas-raises-nearly-29m-series-b-led-by-vertex-ventures-and-hita

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