Cyanogen Inc. Raises $22 Million In Funding

Posted on Dec 19 2013 - 12:45pm by Matthew

Cyanogen-Logo

Back in September, CyanogenMod announced they would become Cyanogen Inc and rose $7 million. Now, with a few months of progress since then, including launching a phone of their own with Oppo, they have risen more money. $22 million, to be exact.

The source for the $22 million comes from the Venture Capital firm Andreessen Horowitz, along with the previous partners of Benchmark and Redpoint. These funds should help the young company a lot, with being able to create more code, sponsor events, and hire more engineers and designers.

It’s not just money Cyanogen Inc has acquired though. Peter Levine, from Andreessen Horowitz, is joining Cyanogen’s board of directors. Tencent, a Chinese investment holding company and the country’s largest Internet company, will also serve as a strategic parent.

Most importantly, the community has continued to support Cyanogen in this endeavor. If the community wasn’t supporting Cyanogen in this endeavor, they certainly wouldn’t be able to raise more funding. So, this is great for them all around. Are you excited to see what they’ll do with this new capital?

Source: Cyanogen Inc

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I am 18. My Twitter account is @matthewmspace. You can also catch me on App.net at @matthewmspace as well. I'm a first time blogger currently attending high school with an interest in technology.