Cloud-Based Games Company, OnLive, Nabs Funding from AT&T, Lauder, Warner, Autodesk, Maverick

OnLive, a cloud-based gaming company that was founded by Steve Perlman (the entrepreneur behind WebTV, Moxi and a range of other technologies) and that officially launched in March after operating in stealth mode for several years, said Wednesday that it has secured an undisclosed amount of funding in a Series C round that saw the participation of new investors, AT&T Media Holdings and Lauder Partners (the primary backer of cloud-based interactive TV technology provider, ActiveVideo Networks), as well as previous investors, Warner Bros., Autodesk and Maverick Capital. OnLive claims that the new round is "by far" its largest closing to date. "OnLive is excited to be receiving such a strong endorsement as we ramp toward launch," founder and CEO, Perlman, said in a prepared statement. "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 claims that its cloud-based videogame platform--whose content partners include Electronic Arts, Take-Two Interactive and Ubisoft, among others--delivers "the latest and most advanced" fast-action games instantly on any TV, via an inexpensive "MicroConsole" TV adapter, and on almost any PC or Mac via a small browser plug-in. The OnLive Game Service, which is expected to be offered on a subscription basis, recently began beta testing and is scheduled to launch this winter. The company says that it will use its new funding to help launch the service and to protect its "extensive intellectual property rights" (note: it claims to have 100 patents and patents pending).