The software is available as a module for ISL's variable data print tool, Infigo VDP, or as a hosted web-service integrated with a printer's web-to-print platform.
Much like Infigo VDP, which ISL launched in January priced from £1,200, ISL has made much of the low cost and rich functionality of Funky Fonts versus existing systems, probably the best known of which is DirectSmile.
Pricing for the VDP module is £600, while the hosted web version costs £5,000. Rival systems can run into tens of thousands of pounds, according to Gibson.
"In terms of functionality it's very similar – so we can apply 3D fonts, fonts in the sand, stamps and raised effects, and so on – but the cost is much lower," said ISL managing director Douglas Gibson.
"Most people when we start a quote will say it's not of interest, but when they see the level of functionality and options they really get excited about it."
According to Gibson, the only thing missing from the launch version of Funky Fonts are so-called clip fonts, which comprise small images (such as flowers) applied inside a font boundary.
ISL is currently working on an update that will add this final level of functionality, which will be free to existing users and is due to be released by the end of the year.
Funky Fonts is already being used by former beta-test partner Groovy Smile, which runs the software alongside Infigo web-to-print to allow fans of Premier League football clubs, including Aston Villa, Everton and Manchester City, to order personalised merchandise online.
Adele Cable, managing director of Groovy Smile, said: "The new Funky Fonts system means we can now create more realistic personalised print items much faster.
"Also, once these sites are designed, overheads are extremely low since there is no direct customer interaction and the whole process is automated."
ISL, which was spun off from Bytes Document Solutions in December 2010, is currently developing a product based around social networking, which Gibson said was expected to go into beta testing in September.