diff --git a/firebase-functions/CHANGELOG.md b/firebase-functions/CHANGELOG.md
index 5e3bddd2072..a691e830912 100644
--- a/firebase-functions/CHANGELOG.md
+++ b/firebase-functions/CHANGELOG.md
@@ -1,5 +1,13 @@
 # Unreleased
 
+* [changed] Updated dependency of `firebase-iid` to its latest
+  version (v21.1.0).
+  
+## Kotlin
+The Kotlin extensions library transitively includes the updated
+`firebase-functions` library. The Kotlin extensions library has no additional
+updates.
+
 # 20.2.0
 * [unchanged] Updated to accommodate the release of the updated
   [functions_client] Kotlin extensions library.
diff --git a/firebase-functions/firebase-functions.gradle b/firebase-functions/firebase-functions.gradle
index 00689311183..7cfe379f959 100644
--- a/firebase-functions/firebase-functions.gradle
+++ b/firebase-functions/firebase-functions.gradle
@@ -56,13 +56,14 @@ dependencies {
     implementation 'com.google.android.gms:play-services-basement:18.1.0'
     implementation 'com.google.android.gms:play-services-base:18.0.1'
     implementation 'com.google.android.gms:play-services-tasks:18.0.1'
-    implementation ('com.google.firebase:firebase-iid:20.0.1') {
-        exclude group: 'com.google.firebase', module: 'firebase-common'
+    implementation ('com.google.firebase:firebase-iid:21.1.0') {
+        exclude group: "com.google.firebase", module: "firebase-common"
+        exclude group: "com.google.firebase", module: "firebase-components"
     }
     implementation ('com.google.firebase:firebase-auth-interop:18.0.0') {
         exclude group: 'com.google.firebase', module: 'firebase-common'
     }
-    implementation 'com.google.firebase:firebase-iid-interop:17.0.0'
+    implementation 'com.google.firebase:firebase-iid-interop:17.1.0'
 
     implementation 'com.squareup.okhttp3:okhttp:3.12.1'