AT&T Media Holdings, Inc., Lauder Partners, Warner Bros., Autodesk, and Maverick Capital Invest in OnLive
Series ‘C’ Round OnLive’s Largest Closing to Date
SAN FRANCISCO—September 30, 2009—OnLive, Inc., the cloud gaming pioneer, today announced the participation of AT&T Media Holdings, Inc., Lauder Partners, Warner Bros., Autodesk, and Maverick Capital as investors in OnLive’s Series ‘C’ funding. Previous OnLive investors, Warner Bros., Autodesk and Maverick Capital, also participated in the round. Series ’C‘ is by far OnLive’s largest closing.
In addition to investors, OnLive has 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.
“OnLive is excited to be receiving such a strong endorsement as we ramp toward launch,“ said Steve Perlman, OnLive Founder and CEO. “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 revolutionary, cloud-based video game platform delivers the latest and most advanced fast-action games instantly, on any TV via a sleek, inexpensive MicroConsole™ TV adapter, or on almost any PC or Mac via a small browser plug-in. The OnLive Game Service was unveiled in March at the 2009 Game Developers Conference and recently commenced Beta testing, leading to a winter launch.
“This closing marks a major milestone for OnLive,” said Kevin Tsujihara, President, Warner Bros. Home Entertainment Group. “Having secured both major funding and key partnerships, OnLive is moving closer to deployment of the OnLive Game Service. Warner Bros. is delighted to be an OnLive investor and partner, and welcomes the new investors and partners.”
The proceeds from Series ‘C’ will be used to launch OnLive’s service offerings and to protect OnLive’s extensive intellectual property rights.
OnLive, Inc. is the pioneer of high-performance cloud gaming, delivering real-time interactive experiences and rich media through the Internet, with the world’s first instant video game on demand platform, the OnLive Game Service. With groundbreaking, patent-pending video compression and network hosting technology, OnLive harnesses cloud computing to provide the power and intelligence needed to instantly deliver the latest, high-end games titles directly to TVs via a sleek, inexpensive MicroConsole, or on PCs and Macs. Founded by noted technology entrepreneur Steve Perlman (WebTV, QuickTime), and spun out of Rearden, the media and technology incubator behind MOVA (a wholly-owned OnLive subsidiary at www.mova.com), Ice Blink Studios and Moxi, OnLive spent seven years in stealth development before officially launching in March 2009. OnLive technology is backed by over 100 patents and patents pending. The company is headquartered in Palo Alto, CA. More information is available at www.onlive.com.
OnLive, MicroConsole, and MOVA are trademarks or registered trademarks of OnLive, Inc. All other trademarks are the property of their respective owners and are used by permission.