Just 18 months post-launch, Keychain adds capital and unveils its second major product: a first-of-its-kind, AI-powered operating system designed to help manufacturers run their facilities more efficiently

NEW YORK, Aug. 19, 2025 — Keychain, the AI-powered manufacturing platform for the consumer packaged goods industry, today announced a $30 million Series B funding round led by Wellington Management and existing investor BoxGroup, alongside other major returning investors. The new capital supports the rollout of KeychainOS, an AI based operating system that helps manufacturers manage their production cycle with greater speed, visibility, and intelligence.

This brings Keychain’s total funding to $68 million just 18 months post-launch. The momentum reflects Keychain’s rapid adoption by the industry: 8 of the top 10 retailers, and 7-Eleven and Whole Foods, use Keychain, along with 7 of the top 10 CPG brands, including General Mills. The funding also reflects Keychain’s evolution from a sourcing platform into a full-scale operating system addressing the $1 trillion market for manufacturing CPG goods.

“We’ve grown quickly because the demand is clear. Manufacturers are being asked to do more with less, and the systems they rely on simply aren’t built for today’s complexity,” said Oisin Hanrahan, Co-founder and CEO of Keychain. “Applying AI allows KeychainOS to give manufacturers a smarter, faster way to run their facilities, and it’s already delivering real results.”

Unlike traditional enterprise resource planning (ERP) systems like Oracle, QAD or Plex–which take months or years to implement, and then require add ons like TraceGains or Redzone to be usable–KeychainOS deploys in days and is purpose-built for CPG. Manufacturers are already using it to manage safety, reduce waste, predict bottlenecks, and improve planning in real time.

“Keychain is an ambitious new approach to connect buyers with manufacturers,” said Tom Hermes, Vice President Sourcing & Product Development, Whole Foods Market. “The tool allows our teams to better identify prospective manufacturers who can meet the requirements of our product roadmap.”

Since its launch in February 2024, Keychain’s AI powered sourcing platform has grown to facilitate more than $1 billion in manufacturing projects monthly and brought over 20,000 brands and retailers into the ecosystem. The company recently expanded into the beauty and personal care sector, demonstrating its applicability across consumer goods categories.

“Keychain has demonstrated a strong ability to bring new products to market quickly while scaling their operations effectively,” said Molly Breiner, Sector Lead, Private Climate Investing at Wellington Management. “Their approach addresses clear gaps in the CPG supply chain by offering a more streamlined and connected alternative to traditional ERP systems to create a more efficient, resilient, and connected ecosystem for manufacturers.”

With this new funding and the launch of KeychainOS, Keychain will continue to expand into new CPG verticals and advance its AI offerings to meet growing demand, further establishing itself as the ultimate modern operating system for manufacturing.

Interested brands, retailers, and manufacturers can apply to join at www.keychain.com.

About Keychain
Keychain is an AI-powered platform for CPG manufacturing that works with brands and retailers to bring clarity and convenience to the process of creating products that consumers love. The company is backed by leading investment firms Lightspeed Venture Partners, BoxGroup, Wellington, SV Angel and industry leaders General Mills, The Hershey Company, Schreiber Foods, and Rich’s Food. Keychain has built a network of over 30,000 manufacturers and over 20,000 brands and retailers. The company’s proprietary, AI-powered platform helps brands quickly find the perfect manufacturing partners. Keychain is headquartered in New York, with offices in Austin and Delhi.

Media Contact
Devin Walsh
[email protected]

SOURCE Keychain

At One Ventures and Overture Ventures co-lead investment to accelerate ChemFinity’s sorbent technology for low-cost, high-purity metal refining

BROOKLYN, N.Y., Aug. 19, 2025 — ChemFinity Technologies, a company pioneering high-performance recovery systems for critical minerals, today announced it has raised an oversubscribed $7 million Seed round. The round was co-led by At One Ventures and Overture Ventures, with participation from Closed Loop Ventures Group, Pace Ventures, WovenEarth Ventures, and Climate Capital. The funds will accelerate the company’s piloting efforts and scale deployment of its breakthrough sorbent-based technology, which can selectively recover over 20 targeted minerals from complex waste streams at low cost.

Over 80% of critical minerals essential to key U.S. industries, including defense, manufacturing, and energy, are imported. The escalating demand for critical minerals is also accompanied by declining ore quality, higher associated processing costs in primary sourcing, and stricter environmental regulations for these materials. ChemFinity’s refining systems meet this need by providing low-cost, energy-efficient, and modular recovery processes that are tunable and durable across a wide range of domestic feedstocks, producing high-purity metals.

“In a world increasingly dependent on critical minerals, the ability to extract and refine them domestically, cleanly, and affordably is paramount,” said Dr. Adam Uliana, Co-founder and CEO of ChemFinity Technologies. “Our platform addresses one of the most difficult bottlenecks in both national security and the energy transition: reliable, local access to high-purity critical minerals, all while dramatically lowering the cost and environmental footprint of recovery.”

Founded as a spinoff from research performed in Prof. Jeffrey Long’s laboratory at the University of California, Berkeley, ChemFinity has invented sorbents that uniquely offer record-breaking recovery efficiencies and exceptional durability, including in hydrometallurgical conditions. Engineered with atomically tunable pore structures for precision separations, these sorbents have been validated for selective capture of target metals from low-grade, highly complex mixtures, recovering critical minerals such as platinum-group metals, rare earth elements, base metals like copper, and even emerging contaminants like PFAS (“forever chemicals”).

“With support from this Seed round, we’re scaling production, expanding our team, and deploying pilot systems to recover high-value metals that would otherwise be lost,” said Dr. Ever Velasquez, Co-founder and CTO. “Our systems are designed to integrate readily into existing infrastructure, and we look forward to expanding deployment with other industrial leaders who share our mission of onshoring a circular minerals supply chain.”

With support from Breakthrough Energy Fellows and non-dilutive grants from over 10 U.S. agencies, the company has already scaled up its technology 1,000x from lab beakers to pilot reactors. The company has engaged in projects with leading recyclers and refiners to produce high-purity metals from domestic wastes, such as catalytic converters, mining feedstocks, spent solar panels, and wastewaters.

“With their high selectivity and fast reaction kinetics, ChemFinity’s engineered sorbents extract critical metals orders of magnitude faster than conventional methods, achieving market-grade purity with minimal energy and water use,” said Helen Lin, Partner at At One Ventures. “This can unlock exciting new value streams and is a true step-change in metal circularity.”

“ChemFinity re-enables domestic refining of metals critical to the national interest,” said Allison Hinckley, Senior Principal at Overture Ventures. “Their process features a dramatically smaller chemical and energetic footprint than global incumbents, resulting in superior economics.”

ChemFinity will be hiring key roles in Brooklyn, NY.

About ChemFinity Technologies
ChemFinity Technologies is building critical mineral recovery systems to produce over 20 minerals from domestic feedstocks at low cost using its proprietary, high-performance sorbent filters. Spun out of UC Berkeley in late 2022 and based in New York City, ChemFinity has been backed by over a dozen top government and philanthropic agencies, such as the U.S. Department of Energy, ARPA-E, and Breakthrough Energy Fellows. The company’s mission is to enable recyclers and miners to produce critical minerals domestically, cleanly, and cost-effectively—starting with high-value metals such as platinum and gold.

About At One Ventures
At One Ventures invests in deep-tech startups catalyzing a world where humanity is a net positive to nature. At One Ventures finds, funds, and grows companies that are using disruptive deep tech to upend the unit economics of established industries while dramatically reducing their planetary footprint. To date, At One Ventures has invested in 40 startups, including battery recycler Ascend Elements, de-extinction company Colossal Biosciences, and biodegradable packaging supplier Cruz Foam.

About Overture Ventures
Overture Ventures is an early-stage venture fund focused on energy, artificial intelligence, resilience, and industrial transformation startups critical to the national interest. The firm provides deep technical and government affairs support to help founders unlock federal, state, and municipal resources and navigate regulatory complexity. Overture’s team includes former senior political appointees from the U.S. Department of Energy and White House and has deployed over $670M across startups in climate tech and industrial innovation.

Contacts
[email protected]

SOURCE ChemFinity Technologies, Inc.

Flagship event connects Midwest tech founders, investors and corporates around the theme Built on Ambition

KANSAS CITY, Mo., Aug. 19, 2025 — Flyover Capital, a Kansas City-based venture fund building tech success stories outside coastal hubs, today announced the fourth annual MidxMidwest (MXMW), taking place Nov. 13 at Hotel Kansas City in Kansas City, Missouri. Organized with support from Iron Prairie Ventures and Polsinelli, MXMW will connect selected founders, investors, community and corporate leaders for curated one-on-one meetings, breakout sessions and networking under the theme Built on Ambition.

MXMW prioritizes meaningful connections between pre-seed to Series B founders and investors from leading venture firms nationwide. Participants are curated through an application and invitation process to ensure each year’s event expands networks with relevant and high-quality introductions. As the “Crossroads of the Venture Community,” MXMW draws investors from both coasts and major Midwest cities, including Silicon Valley, New York, Boston and Chicago, for a uniquely concentrated networking experience.

“We started MXMW because we saw incredible founders in our region who should have the same opportunities as entrepreneurs in more traditional tech hubs,” said Dan Kerr, managing partner at Flyover Capital. “This year’s theme, Built on Ambition, reflects the drive behind every breakthrough company. As AI and corporate innovation reshape the market, ambition is the foundation that will carry bold founders and corporate leaders forward — and MXMW is where those partnerships begin.”

The event comes at a critical time as corporate leaders navigate rapid changes like the AI transition, where preparedness among many Midwest businesses remains underdeveloped. MXMW offers a crucial bridge to emerging technologies and direct access to early-stage founders shaping these solutions. For corporate innovation leaders, it’s a chance to explore practical applications of AI and other transformative tools, influence how promising startups adapt to enterprise needs and build partnerships that accelerate digital transformation.

For investors actively deploying capital, MXMW has become a proven source of vetted deal flow. Last year’s event led to Flyover Capital’s first 2025 investment, and other institutional investors have also made commitments to companies discovered through MXMW. Over the past four years, the event has facilitated more than 2,000 introductions, and this year alone is expected to generate 500 in-person meetings in a single afternoon.

“I’ve been to six other conferences in the past two months, but MidxMidwest still facilitated numerous new connections,” said Cooper Winrich of Nashville-based FINTOP Capital. “The quality of attendees was excellent — ambitious founders, engaged investors and corporate leaders from across the Midwest and Southeast.”

To apply to attend MXMW or learn more about sponsorship opportunities, visit www.MidxMidwest.com.

About Flyover Capital
Founded in 2014, Flyover Capital is an early-stage venture capital firm dedicated to building the next generation of technology success stories outside the coasts. With 49 investments into companies and funds across 19+ states, Flyover backs tech founders from pre-seed through early growth. Beyond capital, the firm connects founders to customers, talent, and strategic partners through its Platform and flagship initiatives like MidxMidwest, which has become a cornerstone for driving connections across the central U.S. tech ecosystem.

Media Contact
PANBlast for Flyover Capital
Ryan Hecker
[email protected]

SOURCE Flyover Capital

Top SBA lenders and investors back company mission to redefine lending

SAN FRANCISCO, Aug. 19, 2025 — Casca, the first AI-native loan origination platform, today announced it raised $29 million in its Series A, bringing its total in funding to-date to $33 million.

Only 15 months after its pre-seed raise, Casca is leapfrogging the competition with superior functionality and dramatically faster loan processing–funding commercial loans up to 10 times faster than other fintechs and 30 times faster than industry averages. Casca will use this funding to scale its operations, expand its team, and accelerate go-to-market efforts–making the platform more accessible to additional financial institutions. 

Canapi Ventures, a venture and growth equity firm backed by over 70 financial institutions, led the round. “Casca stands out in many ways,” said Neil Underwood, co-founder and general partner. “They’ve worked alongside top AI researchers and within banks themselves to simplify business lending using responsible AI and bank-grade underwriting. With Casca, local financial institutions become the lender of choice–offering more affordable rates and keeping capital within the community. It’s a big step for banking, and we’re proud to be part of it.”

Casca’s flagship customers – Live Oak Bank, the nation’s leading U.S. Small Business Administration SBA 7(a) lender by dollar volume, Huntington National Bank, the nation’s largest originator, by volume of SBA 7(a) loans, and Bankwell Bank, Casca’s first customer – all invested. Bankwell, Y Combinator, and Peterson Ventures, a renowned investor in the vertical SaaS sector, multiplied their investments from the pre-seed raise. Alliance Funding Group, one of the fastest-growing independent leasing companies in the U.S., participated as well.

Chip Mahan, CEO and chairman of Live Oak Bancshares, commented, “Businesses trust Live Oak Bank to provide a personalized, modern approach to lending, which is key to maintaining our leadership in the market. Casca simplifies and accelerates our lending processes while equipping us with the insights needed to build lasting relationships. The tangible value Casca has demonstrated gives us confidence to invest in their future.”

“At Huntington, we are committed to supporting small businesses at every stage of their journey,” shared Christian Corts, regional banking director at Huntington Bank. “Our investment in Casca modernizes the lending experience and expands our ability to deliver the guidance, tools and resources these entrepreneurs need to grow and thrive”

“We’re driven to be a force for good, using technology to make capital more accessible to small businesses and fueling the American Dream,” said Lukas Haffer, CEO and co-founder of Casca. “Partnering with the top SBA lenders and key industry players, we’ve built a platform that fully automates commercial loans in record time–setting a new industry standard. This is a game changer, and now we are ready to scale responsibly, reaching more institutions with the white-glove service our clients expect.”

About Casca
Casca accelerates the loan application and origination process using responsible AI. It is the loan origination platform used by the nation’s leading SBA lenders and FDIC-Insured banks. Founded in 2023 by banking IT experts and AI researchers from Stanford University, Casca is backed by Y Combinator, Canapi Ventures, Peterson Ventures, Clocktower Ventures, The Fintech Fund, and the Sarah Smith Fund. For more information, visit www.cascading.ai and follow us on LinkedIn.

SOURCE Cascading AI

The company announces funding from FirstMark, Bessemer Venture Partners, and Bedrock as it hits #1 trending on GitHub

NEW YORK, Aug. 19, 2025 — TensorZero, a technology startup building an open-source stack for industrial-grade LLM applications, announced today its seed funding round of $7.3M. The round is led by FirstMark, with participation from Bessemer Venture Partners, Bedrock, DRW, Coalition, and dozens of strategic angel investors.

TensorZero’s open-source stack unifies an LLM gateway, observability, optimization, evaluation, and experimentation. “Despite all the noise in the industry, companies building LLM applications still lack the right tools to meet complex cognitive and infrastructure needs, and resort to stitching together whatever early solutions are available on the market,” says lead investor Matt Turck, General Partner at FirstMark. “TensorZero provides production-grade, enterprise-ready components for building LLM applications that natively work together in a self-reinforcing loop, out of the box. The enthusiasm we hear from users makes the difference clear.”

Recently, TensorZero’s open-source repository achieved the ‘#1 trending repository of the week’ spot globally on GitHub. “The surge in adoption from both the open-source community and enterprises has been incredible. We’re fortunate to have received contributions from dozens of developers worldwide, and it’s exciting to see TensorZero already powering cutting-edge LLM products at frontier AI startups and large organizations, including one of Europe’s largest banks,” says co-founder and CEO Gabriel Bianconi.

TensorZero’s open-source stack sets the foundation for the company’s mission of helping LLMs automatically learn from real-world experience. “As AI models grow smarter and take on more complex workflows, you can’t reason about them in a vacuum; you have to do so in the context of their real-world consequences. It’s like a talented person starting a brand-new job: they may stumble on day one, but with instruction and experience, they rapidly improve,” says co-founder and CTO Viraj Mehta. “Our ultimate vision is to enable a data and learning flywheel for optimizing LLM applications — a feedback loop that turns production metrics and human feedback into smarter, faster, and cheaper models and agents.”

The team behind TensorZero brings deep expertise in AI and software infrastructure. Viraj Mehta (CTO) previously received a PhD from Carnegie Mellon focused on reinforcement learning for nuclear fusion and LLMs; he holds a BS in math and an MS in computer science from Stanford. Gabriel Bianconi (CEO) was the chief product officer at Ondo, one of the largest decentralized finance projects with over $1B in AUM; he holds BS and MS degrees in computer science from Stanford. The team also includes former maintainers of major open-source projects such as the Rust compiler, machine learning researchers (Stanford, CMU, Oxford, Columbia) with thousands of citations, and other talented technical contributors.

The capital will accelerate TensorZero’s efforts to build best-in-class open-source infrastructure for LLM engineers.

About TensorZero

TensorZero is an open-source stack for industrial-grade LLM applications. It unifies an LLM gateway, observability, optimization, evaluation, and experimentation. The company is funded by FirstMark, Bessemer, Bedrock, and dozens of other strategic investors. For more information, visit https://www.tensorzero.com.

Media Contact

TensorZero Team
[email protected]

SOURCE TensorZero

BOSTON, Aug. 19, 2025 — Three Space Lab (“3SL”), a pioneer in frictionless, ultra-realistic VR real estate visualization, has raised $3 million in Seed funding to transform the luxury homebuying experience.

Founded by former MIT research scientist Scott W. Greenwald, Ph.D., 3SL reimagines real estate sales by enabling sellers to showcase off-plan and remote properties with a stunning level of realism. Its proprietary, cutting-edge, immersive visualization platform disrupts the traditional sales experience by empowering buyers to make confident decisions anytime, anywhere.

3SL brings luxury real estate to life for buyers worldwide, letting them step into their dream homes from anywhere using VR, bringing joy and magic to the biggest purchase decisions of their lives. This not only helps our customers sell their properties faster and more efficiently — it also allows architects, designers, and developers to experience and emotionally connect with their projects even before they’re built. Our novel approach brings unparalleled realism and usability to VR technology, breaking down stubborn barriers to adoption in the real estate space,” said Greenwald.

“This funding bolsters our ability to scale, developing AI-based techniques to increase the sophistication of our offering while decreasing cost and accelerating execution. This will allow us to bring our ultra-realistic content offerings to developers and buyers worldwide. Furthermore, we see this as a first step to VR adoption across numerous industry verticals.” Greenwald added.

According to Pitchbook, the global proptech market, valued at $34 billion in 2024, is projected to reach $133 billion by 2032. With this funding, led by Switzerland-based Arminius Verwaltung, 3SL will develop its global sales team and leverage AI in game-changing ways. This will fuel expansion in North America, Europe, and the Middle East, focusing initially on key hotspots such as Miami, St. Tropez, and Dubai.

Discover how Three Space Lab is transforming the real estate buying experience at https://www.threespacelab.io.

About Three Space Lab

Incorporated in 2021 by former MIT research scientist Scott Greenwald, Ph.D., Three Space Lab, Inc. pioneers AI-driven VR solutions for luxury real estate, enabling immersive, on-demand property experiences worldwide. For more information, visit https://www.threespacelab.io or contact [email protected].

SOURCE Three Space Lab

SINGAPORE, Aug. 19, 2025 — T1, a proprietary trading firm, today announced a revolutionary approach that enables skilled traders to earn immediate cash rewards and secure sponsorship to trade with substantial institutional capital.

What is Proprietary Trading?

Traditional trading requires investors to risk their own capital when buying and selling stocks, crypto, currencies, or commodities. T1 offers an alternative: for assessment fees as low as $99, traders gain access to a trading account to take a trading challenge. Those who can demonstrate profitability and risk management skills get to trade through the firm’s institutional capital network while keeping up to 90% of the profits.

At the heart of T1’s innovation is its instant cash bounty system. As traders achieve predetermined profit milestones during their Futures Challenge, they receive immediate cash rewards of up to $20,000. Traders who successfully complete the Futures Challenge by achieving all milestones are then sponsored to continue trading.

Sargon Petros, CEO of T1, explains: “We’re giving talented traders recognition, professional tools and access to institutional funding. Whether you’re a beginner or advanced trader, you can choose from four different trading platforms: cTrader, MatchTrader, DXTrade & Rithmic, along with real-time global market data feeds, and instant cash rewards for hitting profit targets.
As a trader myself, I know that finding the right trading firm isn’t just about the price – it’s about having access to the specific technology that matches your trading style. Every successful trader has developed their own edge, and we provide the infrastructure to amplify that edge.”

Based in Singapore’s iconic SGX Centre, T1 operates from one of Asia’s premier financial centers. Singapore’s strategic position as a global trading hub provides access to Asian, European, and American markets across multiple time zones, while the city-state’s robust regulatory framework ensures institutional-grade operational standards.

T1 provides 6 account types designed for every trading style – from scalpers to swing traders and quantitative traders. Users can trade across diverse markets including cryptocurrencies like Bitcoin and Ethereum, major indices such as the S&P 500 and Nasdaq 100, as well as commodities like Oil and Gold. Each challenge features clear rules and realistic targets.
T1 supports all trading approaches, including trading bots, automated strategies, copy trading, and algorithmic trading for quantitative traders.

T1 harnesses the combined expertise of its trading community through its proprietary AI platform, capturing insights from successful traders across the network. This system delivers valuable analysis on market patterns, risk management techniques, and profitable trading strategies.

Ready to Transform Your Trading Career? T1 is now accepting applications from skilled traders worldwide. The evaluation process begins immediately upon registration.

Those interested in joining T1’s community of funded traders can learn more about account types, challenge requirements, and begin their application at T1trader.com.

For media inquiries and partnership opportunities, contact [email protected]

Contact:

Sargon Petros

+6597441832

SOURCE T1 Markets

Deep tech company redefining engineering simulation for the world’s most complex technologies – from advanced electromagnetics to quantum computing

HUNTSVILLE, Ala., Aug. 19, 2025 — Nullspace, a deep tech company developing breakthrough electromagnetic simulation software, today announced a $2.5 million seed round led by Fathom Fund, with participation from Golden Seeds LLC and other strategic angel investors.

“Nullspace will utilize this seed funding to expand the engineering team, accelerate product development, and scale go-to-market efforts as we target growing demand across aerospace, defense, quantum computing, and AI-enabled hardware markets,” said Dr. Masha Petrova, Nullspace’s CEO and co-founder.

Nullspace Offers RF and Quantum Computing Tools

In an increasingly connected world driven by 5G deployment, AI chip development, and electronic warfare – the demand for radio frequency (RF) performance is rapidly increasing. Meanwhile, as quantum computing advances toward commercialization, this emerging market holds immense growth potential as industry leaders race to bring viable systems to market.

Nullspace develops enterprise simulation software, uniquely positioned to address both high-growth, high-barrier markets: next-generation RF and quantum computing hardware.

“At Fathom, we seek out companies that combine deep technical moats with clear paths to market dominance, and Nullspace is a great example of that,” said Dr. Paul Sheng, managing partner at Fathom Fund. “The founders’ PhD-level engineering backgrounds, combined with their extensive operational track records, have enabled them to build software solutions with an extraordinary level of maturity.

Sheng continued, “Nullspace is delivering much-needed modern physics simulation tools that customers are welcoming with open arms. In rapidly evolving markets like 5G, quantum computing, and spectrum management, this head start is invaluable.”

Fathom’s Sheng will be joining the board of directors at Nullspace. In addition, Dr. Nathan Kundtz, CEO and founder of Rendered AI, and former CEO and co-founder of Kymeta Corporation, will join as an independent board director.

Why Now: RF and the Ubiquity of Connected Devices

Today, RF technology is everywhere – it underpins the innovations that power modern life, from smartphones and autonomous vehicles to 5G networks, satellite constellations, and most modern defense applications.

Yet, legacy simulation software tools used by engineers designing these connected technologies are cumbersome and outdated. Nullspace is solving this critical design bottleneck by delivering modern, fast, and accurate simulation software. Its flagship product, Nullspace EM, fundamentally unlocks the ability to simulate larger, more complex designs with full-fidelity accuracy and speed.

At the Frontier of Quantum Computing

Beyond transforming RF simulation, Nullspace also offers Nullspace ES – the world’s only commercial tool for design and analysis of extremely large ion traps for quantum computing architecture.

Dual Use: Defense-Validated Technology with Enterprise Traction

Developed on modern implementations of numerical methods, Nullspace is a U.S.-based company developing real-world enterprise RF simulation tools.. This foundation enables the dual use of Nullspace software for both military programs and commercial applications, uniquely positioning it for advanced implementations like generative design and AI-guided design automation.

Nullspace’s competitive advantage stems from more than a decade of development through IERUS Technologies, a defense contractor specializing in hardware and software development of electromagnetic, analytical computing, and weapons systems technologies.

The core technology behind Nullspace’s modern solvers has been rigorously tested on real-world antenna, microwave, scattering, and ion-trap design problems for 10+ years, including physical products delivered to the U.S. Department of Defense.

About Nullspace
Nullspace is a deep tech company developing next-generation electromagnetic simulation software for mission-critical engineering applications. Built on over a decade of technology development and DoD validation, Nullspace’s solutions deliver breakthrough performance for RF system design and quantum computing hardware. nullspaceinc.com

About Fathom Fund
Fathom Fund is a deep tech venture capital firm focused on breakthrough innovation and technical platforms at the pre-commercialization and early commercialization phases. The firm helps technical founders build category-defining companies through rigorous technical diligence and extensive networks of subject matter experts. ff.vc

About Golden Seeds
One of the nation’s largest and most active early-stage angel networks, Golden Seeds is focused on the vibrant opportunities of women-led businesses. https://goldenseeds.com/

Press Contact:
Samantha Chou
Head of Marketing
[email protected]
+16572221530

SOURCE Nullspace Inc.

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 — 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
[email protected]
978-430-9680

SOURCE Functionize, Inc