Backbone nets $40 million to expand peripheral-meets-streaming business

Gaming company Backbone has raised $40 million in Series A funding to make new hires and scale up.

Backbone is known for developing the Backbone One controller and eponymous Backbone app, which combined allow users to access and play titles from a range of platforms like the App Store, Xbox Game Pass, Nvidia GeForce Now, and Amazon Luna on mobile devices.

The Backbone app can also be used to stream via Twitch, edit clips, and chat with friends. Last year, Backbone partnered with Microsoft to bundle the Backbone One with a one-month Xbox Game Pass Ultimate trial. 

Looking ahead, Backbone CEO and co-founder Maneet Khaira said the investment will be "central" to scaling the business, and will specifically allow the company to "better serve gamers on a larger scale."