OnLive Ramps Up With Biggest Funding Round Yet

Cloud-based gaming service OnLive has just closed its biggest funding round yet, with participation from AT&T Media Holdings, Warner Bros., Autodesk and investment firms. OnLive founder and CEO Steve Perlman says the new funding "gives us a serious jolt of rocket fuel as our beta progresses, and we look forward to launching the OnLive Game Service." The service renders and delivers games on a remote server, to let users play games through their own PCs and television sets without the need for local hardware or software -- aside from the OnLive set-top box. Although cloud-based gaming services are a rapidly-developing sector, OnLive became the first to enter open beta at the beginning of this month. "OnLive is excited to be receiving such a strong endorsement as we ramp toward launch," said Steve Perlman, OnLive Founder and CEO. The amount of the funding was not disclosed, but the company says it will be used to launch its service this winter, and to protect its intellectual property rights. "OnLive's technology and services enable broadband connections to deliver unprecedented gaming and interactive content experiences to the user," continued Perlman. "The implications are nothing short of world-changing, and we are excited to be aligned with forward-thinking investors and strategic partners who recognize OnLive's potential."