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Cyanogen Inc. receives $80 million in funding

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Cyanogen Inc. receives $80 million in funding

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Earlier nowadays, Cyanogen Inc. founders Steve Kondik and Kirt McMaster introduced that they’ve secured $80 million in funding from a gaggle of buyers, which incorporates: Twitter Ventures, Qualcomm, Telefónica Ventures, Smartfren Telecom, Index Ventures, Access Industries,Vivi Nevo and Rupert Murdoch, in addition to a few different companions who've requested to stay nameless.

“So what is going to this cash be spent on?” A listen you ask. Well, the corporate intends to make use of nearly all of it “to rent skill and boost up the improvement of its open OS platform.” The relax could be spent on promoting campaigns to boost consciousness for the choice Android running device, which, consistent with Sandesh Patnam, Techology Sector Lead of Primji Invest, has the prospective “to develop into the third top cellular OS.”

Markably absent from the listing of buyers is Microsoft, who have been in the past rumored to be donating an spectacular $30 million, which might have resulted in Cyanogen elevating an eye fixed-watering $110 million for the Series H financing marketing campaign. However, in keeping with Bloomberg, Microsoft would possibly nonetheless strike a “business deal” with Cyanogen to pre-load its cellular apps on Cyanogen OS units.

The complete press unlock may also be noticed under:

PALO ALTO, CA–(Marketwired – March 23, 2015) – Cyanogen Inc., a number one cellular running gadget natural-play, introduced the finishing touch of an $80 million spherical of Series H financing. With workplaces in Palo Alto and Seattle, the corporate will leverage the infusion of latest funding to rent skill and boost up the improvement of its open OS platform.

The financing used to be led via Premji Invest and comprises participation from new strategic buyers Twitter Ventures, Qualcomm Incorporated, Telefónica Ventures, Smartfren Telecom, Index Ventures, Access Industries (the United States-primarily based commercial staff headed via Len Blavatnik), Rupert Murdoch, Vivi Nevo, and a couple of but to be introduced companions. Existing buyers Benchmark, Andreessen Horowitz, Redpoint Ventures, and Tencent Holdings Ltd. additionally participated.

“We’re dedicated to making an open computing platform that basically empowers all of the cellular environment from developers to hardware makers, and so much importantly, shoppers around the globe,” stated Kirt McMaster, CEO of Cyanogen Inc. “We’re excited to have the backing of an amazingly numerous staff of strategic buyers who're assisting us in construction a in point of fact open Android.”

“We invested in Cyanogen as a result of we’re large proponents of what they’re doing in beginning up Android and assisting international and native environment gamers,” stated Sandesh Patnam, Technology Sector Lead of Premji Invest. “Cyanogen is easily located to transform the third prime cellular OS, and we’re excited to again them in rising their industry on an international scale.”

To date, Cyanogen has won a complete of $110 million in funding. Cyanogen is understood for each its business distribution, Cyanogen OS, and open-source challenge CyanogenMod.


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