RapidCanvas is tackling a growing challenge in AI adoption: the shortage of technical talent. To address this, the company has developed AI agents capable of automating up to 75% of tasks traditionally performed by data scientists and engineers. These agents, powered by Large Language Models (LLMs), analyze vast amounts of data, recognize patterns, and make decisions, offering businesses a way to accelerate AI-driven transformations. Today, RapidCanvas announced a $16M funding round to expand its innovative solutions.
The Series A funding, led by Peak XV with contributions from Titanium Ventures, Accel, and Valley Capital Partners, brings RapidCanvas’s total funding to $23.5M since its founding in 2021. With AI adoption on the rise — Gartner forecasts 80% of enterprises will implement AI processes in the coming years — RapidCanvas addresses a major obstacle: 68% of executives cite a lack of technical talent as a significant barrier to AI implementation.
What sets RapidCanvas apart is its hybrid approach, combining AI agents with human expertise. These agents handle the majority of coding and data tasks efficiently, leaving only critical creative and strategic work to human engineers. This model reduces reliance on large technical teams, with RapidCanvas often requiring just one or two engineers for tasks that might otherwise need 10. By handling repetitive tasks quickly, the platform frees up experts to focus on higher-value work, delivering faster and more cost-effective AI solutions.
The company’s innovative ‘Service-as-Software’ model goes beyond traditional SaaS by directly linking software functionality to business outcomes. This approach automates complex, labor-intensive processes, enabling companies to scale efficiently without relying heavily on technical talent. With over 30 million software engineers and data scientists globally, RapidCanvas estimates that 70% of their routine tasks can be automated, paving the way for businesses to prioritize impactful growth opportunities.
“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 Rahul Pangam, CEO and co-founder of RapidCanvas. “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.”
