CyanogenMod raises $23 million

Alternative Android upstart Cyanogen earns another bucket of cash as investors express their confidence in its plans.

The start screen of the CyanogenMod Installer app. CyanogenMod

Cyanogen and its customized version of the Android operating system just might be onto something, if Silicon Valley investment is your preferred benchmark.

The company announced Thursday that it has closed its Series B funding with Andreessen Horowitz and Tencent, to the tune of $23 million.

The funds will be used to expand the current team of 25 to hire more engineers for nearly all aspects of CyanogenMod development: the core software, user interface and design, and product development. The board of directors will be joined by A16Z's Peter Levine as well.

Cyanogen didn't immediately respond to a request for comment, but the company has made news this year by launching an installer app to simplify switching over from basic Android; integrating encryption technology directly into its SMS app; and offering an app permissions-controlling feature that Google pulled from the standard version of Android.

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