Home >> News >> Cyanogen raised $23 million funding to further expand the company

Cyanogen raised $23 million funding to further expand the company

Once again, CyanogenMod has raised $23 million from venture capitalists, Andreessen Horowitz and Tencent, while last September it had raised $7 million funding from Benchmark and Redpoint.

CyanogenMod's logo changed in early 2012 termed as Cid
CyanogenMod’s logo changed in early 2012 termed as Cid

Steve Kondik, co-founder of Cyanogen revealed the news in official blog post, where he said,

“I am a big believer that if you buy one of these devices, you should have the freedom to do what you want with it. Cyanogen can get rid of unnecessary software installed by device manufacturers so that Android phones run faster and batteries last longer.”

Now, after the successful completion of series B funding, Cyanogen aims to double the company size and the custom Android firmware will be pre-loaded on more devices similar to the Oppo N1 Special Edition smartphones. Currently, with 22 employees, Cyanogen plans to hire as much as 60 more staffs over next 9 to 12 months to break into mainstream and bring more pre-loads on several brands. It could also launch a consumer brand and service in early 2015 or may be late 2014.

Moreover, Cyanogen also has plans to bring paid premium features along with the free basic features. Currently, the CyanogenMod custom Android firmware has been installed on more than 11 million devices, according to the organization’s stats.

Could Cyanogen comes to mainstream to compete with Google Android, Apple iOS and not to forget, Mirosoft Windows Phone?

[Source] [Via]

About Ariana Whitmore

She has been writing columns on consumer gadgets since 2010. Her areas of interests include smartphones, tablets, mobile OS and apps. She holds M.C.S. degree and working on her startup, which aims to solve IT support issues.

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