Functionize Gets $41 Million to Improve its Software Testing AI Agents

Functionize, an AI-powered platform used for the intelligent creation of software test cases, has announced the close of a $41 million Series B funding round, bringing its total funding to over $67 million since its inception in 2015. The round was led by Mumford Investments and LHH Investments, with follow-on participation from Canvas Ventures and Wipro Ventures.

This funding will enable Functionize to accelerate its vision of fully autonomous, AI-driven quality assurance—specifically, it will be directed to:

• Advance the development of Functionize’s patented agentic automation platform, allowing organizations to generate comprehensive test cases in minutes from prompts and self-heal using agentic AI
• Scale the company’s cloud infrastructure to meet growing enterprise demand
• Scale go-to-market teams and build additional data science and engineering teams
• Support expansion into new markets and industry verticals
• Enhance integrations with leading applications and platform providers

Functionize’s Agentic Platform 6.0 introduced intelligent AI-powered agents to generate, execute, and self-heal with minimal human input aims to revolutionize software testing. Unlike traditional tools, these agents provide immediate value without requiring extensive learning or end user input. In 2024 alone, Functionize’s customers ran over a billion agentic AI actions in the Functionize platform, which the company claim to led to a 10x productivity increase and reduced test maintenance costs by as much as 90% due to modernized quality assurance practices. The majority of these actions were executing, diagnosing, and self-healing test automation tasks.

“We’ve set a new industry standard for intelligent, scalable test automation that makes measurable business impact through the reduction in manual effort and accelerated release cycles,” said Tamas Cser, CEO, Functionize. “This investment will help bring us closer to achieving fully autonomous, AI-driven quality assurance that operates seamlessly within development sprints, requires minimal human intervention and extends our value to address broader CIO workflow inefficiencies beyond functional testing.”