Tencent Follows $23 Million Series B Financing for Third-Party Android ROM Developer CyanogenMod

Open source Android ROM developer CyanogenMod raised $23 million in Series B financing led by Andreessen Horowitz and followed by Tencent, Benchmark Capital, and Redpoint Ventures (report in Chinese). The company announced $7 million of Series A funding four months ago.

The capital raised this time will be used in team expansion and global operation. Setting eyes on Chinese market, the company has partnered up with domestic handset manufacture OPPO to develop custom ROM and handset N1.

CyanogenMod claimed to have 11 million monthly active users, up from 8 million in this September. In addition, the firm planned to explore wearable device and vehicle –amounted system industry.

Screenshot of Steve Kondik’s microblog

OPPO’s vice president Liu Zuohu recently left the company to establish a startup. Steve Kondik, founder of CyanogenMod, microblogged that he has met with Liu and they are “conspiring to do something that might change the Andriod ecosystem”.

Liu disclosed that he planned to roll out an independent mobile brand OnePlus in May 2014 (report in Chinese).