diff --git a/Makefile b/Makefile
index 664d60f3b..3748d4aba 100644
--- a/Makefile
+++ b/Makefile
@@ -22,8 +22,9 @@ BIN_WINDOWS ?= $(BIN)_windows_amd64.exe
 HASH    := $(shell git rev-parse --short HEAD 2>/dev/null)
 VTAG    := $(shell git tag --points-at HEAD | head -1)
 VTAG    := $(shell [ -z $(VTAG) ] && echo $(ETAG) || echo $(VTAG))
-VERS    ?= $(shell [ -z $(VTAG) ] && echo 'tip' || echo $(VTAG) )
-LDFLAGS := "-X main.vers=$(VERS) -X main.hash=$(HASH)"
+VERS    ?= $(shell git describe --tags --match 'v*')
+KVER    ?= $(shell git describe --tags --match 'knative-*')
+LDFLAGS := "-X main.date=$(DATE) -X main.vers=$(VERS) -X main.kver=$(KVER) -X main.hash=$(HASH)"
 
 # All Code prerequisites, including generated files, etc.
 CODE := $(shell find . -name '*.go') generate/zz_filesystem_generated.go go.mod schema/func_yaml-schema.json
diff --git a/cmd/func/main.go b/cmd/func/main.go
index 32a5cbc2a..999a26e16 100644
--- a/cmd/func/main.go
+++ b/cmd/func/main.go
@@ -15,7 +15,7 @@ import (
 )
 
 // Statically-populated build metadata set by `make build`.
-var vers, hash string
+var vers, kver, hash string
 
 func main() {
 	ctx, cancel := context.WithCancel(context.Background())
@@ -34,6 +34,7 @@ func main() {
 		Name: "func",
 		Version: cmd.Version{
 			Vers: vers,
+			Kver: kver,
 			Hash: hash,
 		}}
 
diff --git a/cmd/root.go b/cmd/root.go
index 1a5d1ea28..473487c4c 100644
--- a/cmd/root.go
+++ b/cmd/root.go
@@ -7,6 +7,7 @@ import (
 	"path/filepath"
 	"strings"
 
+	"github.com/Masterminds/semver"
 	"github.com/ory/viper"
 	"github.com/spf13/cobra"
 	"github.com/spf13/pflag"
@@ -317,55 +318,50 @@ func cwd() (cwd string) {
 	return cwd
 }
 
+// Version information populated on build.
 type Version struct {
 	// Version tag of the git commit, or 'tip' if no tag.
 	Vers string
+	// Kver is the version of knative in which func was most recently
+	// If the build is not tagged as being released with a specific Knative
+	// build, this is the most recent version of knative along with a suffix
+	// consisting of the number of commits which have been added since it was
+	// included in Knative.
+	Kver string
 	// Hash of the currently active git commit on build.
 	Hash string
 	// Verbose printing enabled for the string representation.
 	Verbose bool
 }
 
-// Return the stringification of the Version struct, which takes into account
-// the verbosity setting.
+// Return the stringification of the Version struct.
 func (v Version) String() string {
 	if v.Verbose {
 		return v.StringVerbose()
 	}
-
-	// Ensure that the value returned is parseable as a semver, with the special
-	// value v0.0.0 as the default indicating there is no version information
-	// available.
-	if strings.HasPrefix(v.Vers, "v") {
-		// TODO: this is the naive approach, perhaps consider actually parse it
-		// using the semver lib
-		return v.Vers
-	}
-
-	// Any non-semver value is invalid, and thus indistinguishable from a
-	// nonexistent version value, so the default zero value of v0.0.0 is used.
-	return "v0.0.0"
+	_ = semver.MustParse(v.Vers)
+	return v.Vers
 }
 
-// StringVerbose returns the verbose version of the version stringification.
-// The format returned is [semver]-[hash] where the special value
-// 'v0.0.0' and 'source' are used when version is not available and/or the
-// libray has been built from source, respectively.
+// StringVerbose returns the version along with extended version metadata.
 func (v Version) StringVerbose() string {
 	var (
 		vers = v.Vers
+		kver = v.Kver
 		hash = v.Hash
 	)
-	if vers == "" {
-		vers = "v0.0.0"
-	}
-	if hash == "" {
-		hash = "source"
+	if strings.HasPrefix(kver, "knative-") {
+		kver = strings.Split(kver, "-")[1]
 	}
-	funcVersion := fmt.Sprintf("%s-%s", vers, hash)
-	return fmt.Sprintf("Version: %s\n"+
-		"SocatImage: %s\n"+
-		"TarImage: %s", funcVersion,
+	return fmt.Sprintf(
+		"Version: %s\n"+
+			"Knative: %s\n"+
+			"Commit: %s\n"+
+			"SocatImage: %s\n"+
+			"TarImage: %s\n",
+		vers,
+		kver,
+		hash,
 		k8s.SocatImage,
 		k8s.TarImage)
 }
diff --git a/cmd/root_test.go b/cmd/root_test.go
index c8782ed4a..5baf9b8ae 100644
--- a/cmd/root_test.go
+++ b/cmd/root_test.go
@@ -170,8 +170,8 @@ func TestVerbose(t *testing.T) {
 		{
 			name:   "verbose as version's flag",
 			args:   []string{"version", "-v"},
-			want:   "Version: v0.42.0-cafe",
-			wantLF: 3,
+			want:   "Version: v0.42.0",
+			wantLF: 6,
 		},
 		{
 			name:   "no verbose",
@@ -191,6 +191,7 @@ func TestVerbose(t *testing.T) {
 				Version: Version{
 					Vers: "v0.42.0",
 					Hash: "cafe",
+					Kver: "v1.10.0",
 				}})
 
 			cmd.SetArgs(tt.args)