OnLive has announced that it has closed its largest round of funding to date, securing investment from AT&T Media Holdings, Lauder Partners, Warner Bros., Autodesk and Maverick Capital Invest.
The level of funding was undisclosed, but the company said that it will be used to launch OnLive's service offerings and to protect intellectual property rights.
Unveiled in March at the Game Developers Conference, OnLive's cloud gaming service has been in development for seven years. It recently entered beta phase in preparation for “a winter launch”.
"OnLive is excited to be receiving such a strong endorsement as we ramp toward launch," said OnLive founder and CEO Steve Perlman. "OnLive's technology and services enable broadband connections to deliver unprecedented gaming and interactive content experiences to the user. 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."
OnLive’s technology bypasses physical media by streaming gameplay data to Windows or Apple platforms, as well as televisions. Games are not actually installed on a computer – instead, game data is relayed back and forth between computers and powerful servers. For TV-compatibility, a small "microconsole" (pictured) is required.