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2015-03-25

Cyanogen raises $80 million in Series C round led by Premji Invest

The company will leverage the infusion of new funding to hire talent and accelerate the development of its open OS platform.

Cyanogen Inc, an open-source operating system for smartphones and tablet computers, based on the Android mobile platform has announced the completion of an $80 million round of Series C financing led by Premji Invest. With offices in Palo Alto and Seattle, the company will leverage the infusion of new funding to hire talent and accelerate the development of its open OS platform.

The round also saw the participation from new strategic investors Twitter Ventures, Qualcomm Incorporated, Telefónica Ventures, Smartfren Telecom, Index Ventures, Access Industries (the US-based industrial group headed by Len Blavatnik), Rupert Murdoch, Vivi Nevo, and several yet to be announced partners. Existing investors Benchmark, Andreessen Horowitz, Redpoint Ventures, and Tencent Holdings Ltd. also participated.

"We're committed to creating an open computing platform that fundamentally empowers the entire mobile ecosystem from developers to hardware makers, and most importantly, consumers around the world," said Kirt McMaster, CEO of Cyanogen Inc. "We're excited to have the backing of an amazingly diverse group of strategic investors who are supporting us in building a truly open Android."

"We invested in Cyanogen because we're big proponents of what they're doing in opening up Android and supporting global and local ecosystem players," said Sandesh Patnam, Technology Sector Lead of Premji Invest. "Cyanogen is well positioned to become the 3rd leading mobile OS, and we're excited to back them in growing their business on a global scale."

Cyanogen has received a total of $110 million in funding till date. Cyanogen is known for its commercial distribution, Cyanogen OS, and open-source project CyanogenMod.

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