CyanogenMod, a US-based company that is distributing an alternative to the Android smartphone operating system, has raised $23m in series B funding from investors including China-based internet service portal Tencent.
Tencent was joined in the round by venture capital firms Andreessen Howowitz, Benchmark and Redpoint. Benchmark and Redpoint also took part in CyanogenMod’s $7m series A round.
Customers are able to use CyanogenMod on their Android devices rather than the operating system that comes bundled with them. CyanogenMod claims its product provides added security for users and the ability for more personalisation.
Steve Kondik, co-founder of CyanogenMod, said the funding would allow them to hire roughly 70 more engineering and design employees. Peter Levine, a partner at Andreessen Horowitz will join the company’s board.