OnLive secures more funding, sees strong interest

OnLive is a cloud based service that aims to change the way people play video games stated that they have received a new round of funding and also said that interest from potential users has exceeded their expectations. OnLive declined to disclose how large the round of investments was, but CEO Steve Perlman had stated that it was a large investment at a large valuation. This is especially important for a company that has yet to claim a dollar in revenue.

OnLive was in development for over seven years, before it was unveiled last Spring, shocking the industry with its revelations. Analysts claim that if the technology works as promised, it may pose a threat to console makers such as Microsoft, Nintendo and Sony. OnLive’s technology aims to run games on servers in the cloud, rather than locally on a PC or a console. OnLive has already signed up several big names in the gaming industry including Ubisoft, Electronic Arts and Take-Two Interactive Software. The company promises to provide an on demand, lag free gaming experience even on graphically rich games such as Crysis. OnLive is currently setting up its infrastructure and uses three data centers to handle user demand. The company hopes to employ five data centers on launch day.

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