OnLive places games in the cloud and runs them on remote servers and networked consoles rather than on local hardware, enabling high-resolution gameplay on lower-powered devices. Its core product streams gameplay to consoles and, potentially, to phones and televisions. The TechCrunch article highlights the possibility of console-quality games on handsets without dependence on handset processing power. HTC's investment signals a strategic push toward wider content distribution and tighter device integration. HTC also acquired Saffron Digital, a DRM-focused streaming video business, which could support OnLive's streaming ambitions. The article reports HTC purchased a $40 million stake in OnLive. OnLive is building the OnLive Game Service, a game-service platform that has secured support from multiple top video game publishers. The company has announced backing from nine leading publishers and continues to close additional deals with publishers and other strategic partners as it ramps to launch. OnLive closed a Series C financing to fund the launch of its service offerings and to protect its intellectual property. Proceeds from the round will be used to launch the OnLive Game Service and to defend OnLive’s extensive IP rights. The company is headquartered in Palo Alto, CA, was founded by Steve Perlman and spun out of the Rearden incubator. OnLive spent seven years in stealth development before officially launching in March 2009. OnLive Inc. is a Palo Alto, Calif.-based company that develops data and networking storage solutions. The article identifies the firm as a data and networking storage startup but does not describe specific products or customers. A regulatory filing cited by PE Wire shows the company raised $16.5 million in a second funding. Backers named in the filing include Maverick Capital and Warner Brothers. The piece provides no operating metrics, revenue figures, or additional commercial details.

Total raised

$57M

Funding rounds

3

Latest round

Equity

Latest activity

Feb 2011