Funding Follows One Billion Agentic AI Actions Taken By Customers in the Functionize Platform; To Fuel Expanded Use Cases in the Move to Fully Autonomous Quality Assurance
SAN FRANCISCO, Aug. 19, 2025 /PRNewswire/ — Functionize, an AI-powered platform used for the intelligent creation of software test cases, today 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 investment furthers Functionize’s mission to empower enterprises to innovate faster by eliminating repetitive work through intelligent, self-correcting automation.
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
These initiatives will help many Fortune 500 and Global 2000 organizations reduce testing maintenance burdens, increase automation coverage, and empower both technical and non-technical users to deliver higher quality software at greater speed and lower cost.
“We invest in people and teams at the forefront of innovation. With proprietary models and seven years of enterprise application intelligence, Functionize is a game-changer in enterprise test automation,” said JD Mumford, Partner at Mumford Investments. “While many startups are piloting agentic AI technology, Functionize is running agentic processes at scale with enterprise customers, and is the only agentic AI test automation company that delivers autonomous test creation, execution, maintenance, and documentation at a scale and speed unmatched by human labor or traditional script-based tools. We are proud to support the next chapter of their growth story.”
Functionize’s Agentic Platform 6.0 introduced intelligent AI-powered agents to generate, execute, and self-heal with minimal human input designed 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 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.”
In conjunction with this announcement, JD Mumford, Partner at Mumford Investments, is joining the Functionize board and Matt Smith (formerly the COO) now serves as President of Functionize. In this role, Matt oversees the operations of the company and implements the company’s strategic vision to empower enterprises to innovate faster by eliminating repetitive work.
About Functionize
Functionize is an AI-powered platform used for the intelligent creation of software test cases. It empowers enterprises, including Fortune 500 and Global 2000 organizations, to achieve faster delivery of higher quality software at a lower cost by reducing testing maintenance burdens, increasing automation, and enabling both technical and non-technical users. Functionize provides support for complex flows and supports integration with leading system integrators. Learn more at https://www.functionize.com/.
Media Contact
Danielle Dougan
PR for Functionize
danielle.dougan@functionize.com
978-430-9680
SOURCE Functionize, Inc