Benchmark, Redpoint Back Android Mod Startup Cyanogen Inc.

CyanogenMod, a startup created by Steve Kondik that creates customized software for Android smartphones, announced on Wednesday that it had raised $7 million from Benchmark Capital and Redpoint Ventures, and that it renamed itself Cyanogen Inc. Kondik, joined by Kirt McMaster, formerly of Boost Mobile, and coder Koushik Dutta, will soon launch a formal Cyanogen installer for Android phones inside Google’s Play store, and plan to continue building services and applications on top on the new software.