To that end, CEO Steve Perlman has announced via the company's blog that OnLive has "closed a major round of funding with participation from AT&T Media Holdings, Inc., Lauder Partners, Warner Bros., Autodesk and Maverick Capital." While Perlman isn't saying just how much is "major" the press release did note that this "is by far OnLive's largest closing." The money "will be used to launch OnLive's service offerings and to protect OnLive's extensive intellectual property rights."
We can only imagine Perlman and Company are watching competitors like Gaikai and Otoy closely. With the beta soon (now?) underway, and the company's coffers filled, we can hopefully expect a steady march of progress towards launch.
Source – OnLive Blog
Source – Press release