Cable Technology Feature Article
October 05, 2009
OnLive Gets Funding from AT&T, Warner Bros., Lauder Partners, Autodesk and Maverick Capital
By Anshu Shrivastava, TMCnet Contributor
Cloud gaming pioneer OnLive has announced the participation of AT&T Media Holdings, Lauder Partners, Warner Bros., Autodesk, and Maverick Capital as investors in OnLive’s series C funding, which is the company’s largest closing.
“OnLive is excited to be receiving such a strong endorsement as we ramp toward launch,” said Steve Perlman, OnLive founder and CEO, adding that OnLive’s technology and services enable broadband connections to deliver “unprecedented” gaming and interactive content experiences to the user.
The proceeds from series C are expected to help launch OnLive’s service offerings. Also, the company believes that the proceeds will help protect its extensive intellectual property rights.
OnLive’ cloud-based video game platform delivers the latest and advanced fast-action games instantly on any TV through a MicroConsole TV adapter, or on any PC or Mac via a small browser plug-in.
“This closing marks a major milestone for OnLive,” said Kevin Tsujihara, president for Home Entertainment Group at Warner Bros. “Having secured both major funding and key partnerships, OnLive is moving closer to deployment of the OnLive Game Service. Warner Bros. is delighted to be an OnLive investor and partner, and welcomes the new investors and partners.”
In addition to investors, OnLive has previously announced support from nine top video game publishers. Additionally, the company continues to close new deals with both publishers and other strategic partners as it ramps to the launch of the OnLive Game Service.
Earlier this year in March, Palo Alto (News - Alert), Calif.-based OnLive introduced OnLive Game Service and OnLive MicroConsole.
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Anshu Shrivastava is a contributing editor for TMCnet. To read more of Anshu’s articles, please visit her columnist page.
Edited by Erin Harrison