The function of the Java Virtual Machine (JVM) is to provide an environment for executing Java bytecode, enabling Java programs to run on any device or operating system that supports the JVM. It performs tasks such as memory management, garbage collection, and converting bytecode into machine language. This platform independence is a key feature of Java, allowing developers to write code once and run it anywhere. The JVM also supports other languages compiled into Java bytecode, making it a versatile component in the software development ecosystem.