CORRECTION: Cyanogen secures $23 million in funding


Correction appended

Cyanogen announced today it secured another round of funding from a variety of sources, including Andreessen Horowitz and Chinese internet company Tencent. Cyanogen is most widely known for its development of its CyanogenMod (CM) operating system. 

Cyanogen's founder and CTO, Steve Kondik, says new features, apps, and services are on the horizon but most of the changes will go on behind the scenes. "This new influx of capital will primarily be used to grow our engineering team as well as our UX, design, and product teams so that we can continue to build the next generation of mobile experience." 

Not everyone is overjoyed by Cyanogen's big announcement, however. "This news has to make Google wary," notes Business Insider's Nicholas Carlson. "Ever since it backed its search business out of China over hacking accusations several years ago, it's main exposure to the Chinese consumer has been through Android." Indeed, Cyanogen plans to use part of its newly-acquired funds to open an office in Tencent's home town of Shenzhen, China. 

CyanogenMod has a known user base of around 11 million, although Andreessen Horowitz's Peter Levine says the number of devices running CM is in the "tens of millions." The challenge for Cyanogen at this point is to increase mainstream adoption of its operating system and perhaps gain traction in the enterprise.

That's something that apparently has crossed at least one investor's mind. Peter Levine of Addreessen Horowitz says, "[The] growing enterprise trend of BYOD (bring your own device) is here to stay, which will further add to that demand as consumers use their mobile devices at home, at work, and on the road—all requiring customized functionality." 

Correction, Dec. 20, 2013: This article has been updated to clarify that CyanogenMod is an Android OS-compatible customization.

For more:
read Business Insider's take
- read this post from the CyanogenMod blog

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