diff --git a/CHANGELOG.md b/CHANGELOG.md
index dfe5fab..c99e089 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,13 @@
 
 All notable changes to this project will be documented in this file. See [standard-version](https://github.com/conventional-changelog/standard-version) for commit guidelines.
 
+## [1.2.1](https://github.com/netlify/netlify-ipx/compare/v1.2.0...v1.2.1) (2022-08-15)
+
+
+### Bug Fixes
+
+* **deps:** update dependency @netlify/functions to ^1.1.0 ([#54](https://github.com/netlify/netlify-ipx/issues/54)) ([1e7cbfa](https://github.com/netlify/netlify-ipx/commit/1e7cbfa67e340f6ae954da319181ec9189367cee))
+
 ## [1.2.0](https://github.com/netlify/netlify-ipx/compare/v1.1.4...v1.2.0) (2022-08-10)
 
 
diff --git a/package.json b/package.json
index da76044..b3c3e07 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@netlify/ipx",
-  "version": "1.2.0",
+  "version": "1.2.1",
   "description": "on-demand image optimization for Netlify",
   "repository": "netlify/netlify-ipx",
   "license": "MIT",