OnLive closes 'major round of funding' with support from AT&T, Lauder Partners, et al.

Worried that a service like OnLive -- the black-magic-fueled game streaming device unveiled at GDC earlier this year -- can't make it to market? "It would cost a fortune to get something like that off the ground!" you exclaimed to your parents over dinner. Of course it costs a fortune! The company wants to stream video of games from high-powered computing clusters at strategic locations, straight to your parent's basement. That stuff ain't free!

To that end, CEO Steve Perlman has announced via the company's blog that OnLive has "closed a major round of funding with participation from AT&T Media Holdings, Inc., Lauder Partners, Warner Bros., Autodesk and Maverick Capital." While Perlman isn't saying just how much is "major" the press release did note that this "is by far OnLive's largest closing." The money "will be used to launch OnLive's service offerings and to protect OnLive's extensive intellectual property rights."

We can only imagine Perlman and Company are watching competitors like Gaikai and Otoy closely. With the beta soon (now?) underway, and the company's coffers filled, we can hopefully expect a steady march of progress towards launch.

Source – OnLive Blog
Source – Press release

This article was originally published on Joystiq.