OnLive has closed another round of funding on Tuesday with AT&T Media Holdings, Inc., Lauder Partners, Warner Bros., Autodesk and Maverick Capital.
“The funding is much larger than our previous rounds,” says Steve Perlman, the founder of OnLive. He went on to say that the new partners “gives us a serious jolt of rocket fuel as our Beta progresses and we look forward to launching the OnLive? Game Service.”
OnLive is set for a Winter 2009 launch and with the increase in support for the revolutionary gaming service, it looks like everything is going as planned.
The game service had been in stealth development for seven years before it was officially announced this past summer. OnLive was initially met with heavy skepticism as companies including Nintendo who scoffed at the startup. Things seem to have turned around.
“We are both pleased and inspired that our investors share this vision with OnLive. Not only do they see the value in OnLive in particular, but they also understand the significance of what OnLive is doing to lead a massive sea change in interactive media distribution. We are grateful that they have not only provided OnLive with their support, but they have also provided OnLive with such a strong endorsement.”