AI platform RapidCanvas on Wednesday announced that it raised $7.5 million in seed funding led by Accel and with participation from Valley Capital Partners.
RapidCanvas is unveiling its AutoAI platform, enabling business users for the first time to build prototype artificial intelligence (AI) solutions in days and full-scale production deployments in less than a month, all without writing a single line of code, per the company.
The funds will be used for both customer acquisition through go-to-market and commercial team expansion, and customer retention by investing in R&D and building a customer success capability. This will help ensure long-term growth through acquiring new customers and fostering AI success for existing ones, said the company.
“Despite the proliferation of no-code AI platforms, there remain two primary barriers that prevent business experts from bridging the gap between having data and solving a problem, ensuring the application of appropriate data science methodologies throughout their unique solution development process and risk of incorporating flawed models into their operations leading to unintended consequences,” Rahul Pangam, CEO and Co-founder of RapidCanvas, said.
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The company is an end-to-end platform designed to automate and guide business leaders and domain experts through prototyping, creating, evolving, and explaining their own AI solutions. Through its conversational interface, it streamlines the AI development process by enabling users to independently create and refine AI solutions tailored to their business needs, bypassing the need for data engineering or developer support.
RapidCanvas empowers business experts to go from idea to AI outcomes with a guided, expert-verified, automated approach that leads to transparent, explainable, and verifiable outcomes. The goal is to demystify the application of AI for everyday business problems for those who are bold enough to lead game-changing AI transformation, Pangam added.