Expanding the team to push CM even further

The folks over at CyanogenMod have announced today that the company is closing another round of funding. Building on a Series A round of funding of over $7 million to get the new company off to a start, this Series B round is bringing another $22 million into the fold from investors Andreessen Horowitz and Tencent. Initial investors Benchmark and Redpoint will still be involved as well.

CM says that the new hefty chunk of capital will be put towards more team members across every bit of the company — engineering, UX, design, products and more. As for the end users of CyanogenMod, they shouldn't expect too many immediate changes. The long-tail effect of this new funding will of course be new apps, features, services and even more devices that are pre-loaded with CM. We can be sure that this is just the beginning of what CyanogenMod wants to accomplish.

Source: CyanogenMod