Functionize announced on Wednesday the closing of a $41 million Series B funding round to enhance autonomous quality assurance (QA).
The recent funding brings the total raised since the company’s founding in 2015 to over $67 million.
Mumford Investments and LHH Investments led this round, with Canvas Ventures and Wipro Ventures continuing to provide support.
This investment is an essential step toward its mission to help companies innovate faster, release with confidence, and eliminate the time-consuming tasks of traditional quality assurance.
Now, its patented agentic AI platform is taking software testing to the next level, further revolutionising its design, implementation, and maintenance.
Functionize’s significant milestone
Existing Functionize clients know this future, with over one billion agentic AI actions executed on the Functionize platform in 2024 alone.
These intelligent agents allow technical and non-technical users to create and maintain tests in minutes. These agents have also reduced test maintenance costs by up to 90 per cent and increased productivity by ten times.
In contrast to conventional tools, its AI-powered agents create, run, diagnose, and self-heal test cases with little human assistance, advancing businesses toward completely autonomous quality assurance that operates smoothly during development sprints.
Tamas Cser, Founder and CEO, says, “We’ve set a new industry standard for intelligent, scalable test automation that makes a measurable business impact. This investment brings us closer to fully autonomous QA that operates within sprints, requires minimal human intervention, and extends our value to address broader CIO workflow inefficiencies beyond functional testing.”
Commitment to improve the agentic automation platform
Functionize is working harder to improve its agentic automation platform so that test creation and self-healing can be even more intelligent and quick, enabling teams to work more confidently and quickly.
To support this momentum, it is growing its engineering and go-to-market teams to serve more businesses globally and scaling its cloud infrastructure to meet the increasing demands of enterprise clients.
To facilitate customers’ seamless integration of intelligent QA into their workflows, the company is also improving its integrations with top platform and application providers.
As it continues to push the envelope, it is looking into new markets and industry verticals where intelligent QA can have an even bigger impact.
The industry already acknowledges and encourages this trend. According to JD Mumford, Partner at Mumford Investment, he said, “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 labour or traditional script-based tools. We are proud to support the next chapter of their growth story.”
This validation highlights the platform’s inventiveness and the benefits it offers businesses today.
Functionize is a revolutionary platform that transforms enterprise agentic automation by combining big data, AI, ML, and advanced computer vision into a revolutionary solution.