Cyanogen has raised a $7 million Series A round of funding from Benchmark Capital and Redpoint Ventures. Cyanogen is known as being the company behind the custom Android ROM called Cyanogenmod. Many people use Cyanogenmod to remove bloatware.
With this round of funding, many of the contributors of Cyanogenmod will be able to quit their day jobs and work on the software full-time. “What will change is our capabilities, our speed, and our size,” stated Cyanogen in a blog post.
The Cyanogen will collect diagnostics from the devices that they are installed on. The company is currently working on putting together a proper business model too.
[Source: CyanogenMod Blog]