diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 71170f86c93a..eff8a7f776e0 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -319,7 +319,7 @@
   "google-cloud-firestore-v1+FILLER": "0.0.0",
   "google-cloud-functions": "1.3.0",
   "google-cloud-functions+FILLER": "0.0.0",
-  "google-cloud-functions-v1": "0.11.0",
+  "google-cloud-functions-v1": "0.12.0",
   "google-cloud-functions-v1+FILLER": "0.0.0",
   "google-cloud-functions-v2": "0.4.1",
   "google-cloud-functions-v2+FILLER": "0.0.0",
diff --git a/google-cloud-functions-v1/CHANGELOG.md b/google-cloud-functions-v1/CHANGELOG.md
index 9743ec4ff08e..5ab2b457e55c 100644
--- a/google-cloud-functions-v1/CHANGELOG.md
+++ b/google-cloud-functions-v1/CHANGELOG.md
@@ -1,5 +1,11 @@
 # Release History
 
+### 0.12.0 (2023-09-12)
+
+#### Features
+
+* Support for channel pool configuration ([#22920](https://github.com/googleapis/google-cloud-ruby/issues/22920)) 
+
 ### 0.11.0 (2023-06-06)
 
 #### Features
diff --git a/google-cloud-functions-v1/lib/google/cloud/functions/v1/version.rb b/google-cloud-functions-v1/lib/google/cloud/functions/v1/version.rb
index 278466c02731..27a9ebf1a12a 100644
--- a/google-cloud-functions-v1/lib/google/cloud/functions/v1/version.rb
+++ b/google-cloud-functions-v1/lib/google/cloud/functions/v1/version.rb
@@ -21,7 +21,7 @@ module Google
   module Cloud
     module Functions
       module V1
-        VERSION = "0.11.0"
+        VERSION = "0.12.0"
       end
     end
   end