OnLive Closes its Series C Funding Round

OnLive, Inc. closed its Series C funding round led by AT&T Media Holdings, Inc., Lauder Partners, Warner Bros., Autodesk, and Maverick Capital.
In addition to investors, OnLive had previously announced support from nine top video game publishers and continues to close new deals with both publishers and other strategic partners as it ramps to the launch of the OnLive Game Service.
The proceeds will be used to launch OnLive’s service offerings and to protect OnLive’s extensive intellectual property rights.
The company, which is headquartered in Palo Alto, CA., was founded by noted technology entrepreneur Steve Perlman (WebTV, QuickTime), and spun out of Rearden, the media and technology incubator behind MOVA, Ice Blink Studios and Moxi.
OnLive spent seven years in stealth development before officially launching in March 2009.

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