RapidCanvas, the managed AI execution company pioneering the Hybrid Approach to deliver custom AI solutions at SaaS economics, has raised $29 million in Series B funding led by Vertex Ventures SEA & India with participation from Hitachi Ventures. Existing investors Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures also participated in the round. The financing brings total funding to $52.5 million. The raise follows 8x growth in annual recurring revenue over the past six quarters as enterprises demand outcomes from custom AI in production. More than 40% of RapidCanvas' customers now run multiple AI use cases in production.