CyanogenMod, the open source mobile operating systm based on Android platform, said it has raised $23 million in its series B funding. The latest funding round was led by Andreessen Horowitz and Tencent.
This round of funding has come eight months after the company closed its series A round with $7 million.
Despite some major distribution challenges, CyanogenMod has 11 million active users. The funds raised will be used to overcome those challenges by expanding the current team of 25 by double.
"Mobile has really just begun," said Kirt McMaster, Cyanogen's CEO. "Apple, Google, and Samsung have not won. Although it seems like they've won, it's still early days."
CyanogenMod's operating system can be regarded as a skin top of Android but it is far more than just a skin. It offers an array of customization features like encrypted text messaging, tethering, and battery-saving options. The custom ROM has also become a godsend to users of older mobile devices that hav been ignored by manufacturers and wireless carriers when they release new Android updates.
However, the installation of Cyanogen is not a walk in the park. You need to follow at least 23 steps for installing it on your Android smartphone. To make the installation simpler, the company had recently released a one-click installer app on Google Play recently, but it was later blocked by Google for violating the store's terms and services. Another significant hurdle that Cyanogen users face is the absence of Google apps and Play Store, which means side-loading is the only option left to install apps.
Nonetheless, the latest round of funding reveals that Silicon Valley investors have not given up on CyanogenMod and if every thing goes in accordance with the plans, CyanogenMod may debut on wearable technology and car industry too.
