Not Your Vanilla Operating System: CyanogenMod Adds $23M
December 26, 2013
Android firmware developer CyanogenMod has raised $23 million in Series B funding led by new investor Andreessen Horowitz, with continued participation from Benchmark Capital and Redpoint Ventures, as well as participation from new backer Tencent. The infusion comes just three months after the company raised $7 million in Series A financing, which valued the company at about $20 million.
Founded last year, CyanogenMod is an open source alternate operating system that replaces the pre-installed Android OS and adds features, fixes and improvements. The company will reportedly use its Series B proceeds to open a small office in Shenzhen, China and hire an additional 40 to 50 people in the next 6 to 7 months.