RapidCanvas, democratizing AI-driven business transformation, announced it has secured $16 million in a funding round for its AI agents, empowering the company to further support the automation of complex tasks traditionally performed by data scientists and engineers.
According to the company, these agents, powered by Large Language Models (LLMs), can process vast amounts of information, identify patterns, and make decisions, effectively replicating many human skills.
The Series A funding round was led by Peak XV, with additional participation from Titanium Ventures and existing investors Accel and Valley Capital Partners. This brings RapidCanvas's total funding to over $23.5M since its inception in 2021.
Unlike traditional software that merely enables humans to do tasks quicker, RapidCanvas's AI agents can absorb and process information at an unprecedented scale, reading thousands of pages in seconds and performing tasks that would take humans days to complete.
Uniquely, the platform adopts a hybrid approach that combines the power of AI agents with human expertise.
According to the company, this “Service-as-Software” approach is particularly effective in areas like coding, where AI agents can handle much of the routine, repeatable tasks.
RapidCanvas was founded by veterans of AI-powered business transformation. Co-founders Rahul Pangam and Uttam Phalnikar previously built Simility, an AI-powered risk management platform acquired by PayPal. Their technology was later integrated into PayPal's global fraud detection operations.
“At RapidCanvas, we’re revolutionizing how businesses solve complex challenges by seamlessly integrating the power of generative AI with the expertise of domain specialists,” said Pangam. “Our context-aware AI agents automate critical tasks like data preparation, transformation, and modeling, allowing business users to create tailored AI solutions using simple natural language prompts. With our expert-in-the-loop approach, we ensure human oversight at key decision points, validating outcomes and delivering real-world impact. Moreover, our Reliable AI framework ensures all outputs are validated, secure and explainable. This customer-centric approach empowers businesses to achieve results in days or weeks, not months—at a fraction of the cost of traditional methods. This funding round will accelerate our mission to make trusted, efficient AI transformation accessible to more enterprises.”
Looking ahead, RapidCanvas aims to lead the charge in AI-powered business transformation. By eliminating the need for extensive technical expertise, RapidCanvas can overcome the skills gap and help enterprise companies unlock tailored AI solutions in less time, letting those companies focus on what truly matters: unlocking new growth opportunities and driving efficient revenue and profitability gains, the company said.
For more information about this news, visit www.rapidcanvas.ai.