RapidCanvas Raises $29 Million to Expand Enterprise AI Platform

RapidCanvas, an Austin-based enterprise AI company, announced a $29 million Series B on Friday, Oct. 16, to expand sales, partner coverage and field engineering in three countries. Vertex Ventures SEA & India led the financing. Hitachi Ventures participated alongside existing investors Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures. A Form D filed with the U.S. Securities and Exchange Commission on Oct. 14 lists $28,999,988 in equity sold to six investors, with no amount remaining. The filing gives Sept. 21 as the date of the first sale. The financing will support broader sales efforts and growth in the company’s private equity and advisory relationships. It also plans to add field AI engineers in the United States, Brazil and India, and invest in its three platform products.

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