RapidCanvas Secures $7.5 Million Seed Funding to Democratize AI Development

Securing Seed Funding
Preeti Bali / 8:18 am / March 14, 2024

RapidCanvas, a leading provider of a no-code AutoAI platform, has secured $7.5 million in seed funding. The round was led by Accel with participation from Valley Capital Partners. This investment will fuel RapidCanvas’ mission to make artificial intelligence (AI) development accessible to businesses of all sizes.

The influx of capital will be strategically allocated to fuel RapidCanvas’ growth across two key areas: customer acquisition and retention. The company plans to expand its go-to-market efforts and commercial team to reach a wider audience. Simultaneously, RapidCanvas will dedicate resources to ongoing research and development (R&D) to enhance its platform and ensure customer satisfaction.

Empowering Businesses with AI Solutions

RapidCanvas’ no-code AutoAI platform removes the technical barriers associated with traditional AI development. Business users with no coding experience can create prototype AI solutions within days and deploy them in production environments within a month. This user-friendly approach allows businesses to rapidly leverage the power of AI to address real-world challenges.

Demystifying AI for Business Transformation

“RapidCanvas empowers business experts to unlock the potential of AI,” stated Rahul Pangam, CEO and Co-founder of RapidCanvas. “Our platform offers a guided, expert-verified, and automated approach that streamlines the development of transparent and verifiable AI solutions. We aim to demystify AI for everyday business problems, empowering businesses to lead transformative change through the strategic application of AI.”

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