Miami, Florida, May 28, 2026 (GLOBE NEWSWIRE) -- Canals, the leader in AI for wholesale distribution, today announced the company raised $35M in funding. The financing was led by Base10 Partners, a leading venture capital firm investing in automation for the real economy.

The investment will accelerate product development to eliminate friction from the thousands of daily interactions between distributors and their customers and suppliers, unlocking a new era of growth for the $8.2T wholesale distribution industry. With customers seeing results like doubling quote conversion rates and 96% touchless invoice processing, demand to automate additional operations with AI is surging. 

"From conversations with many Canals customers as well as our own contacts in wholesale distribution, we kept hearing the same thing over and over again: Canals is customer-obsessed and delivers outstanding ROI. Its technology and team are clearly the best in the market," said Jason Kong, General Partner at Base10 Partners. "They're outperforming, by orders of magnitude, others marketing similar solutions, so it was an easy decision to partner with Michael and this incredible team. We could not be more grateful for their trust in us."

"Our ...