Server-based game publisher and developer Trion World Network closed a $70 million Series C funding round co-led by Act II Capital and previous investors, including Trinity Ventures, DCM, Time Warner, Rustic Canyon, and Peacock Equity.

This latest round of funding brings the company's total capital raised since its inception to $100 million. Trion was founded in 2006 by former Electronic Arts veteran Lars Buttler and Might and Magic series creator Jon Van Caneghem, and has established offices in Redwood City, San Diego, and Austin.

Delivering what Trion calls "server-based games," which will be compatible with broadband-enabled PCs and PlayStation 3 systems, the company's Trion Platform will provide users with a client that handles I/O and rendering, while dynamic content is stored on servers and fed to the clients as needed.

Trion's games will initially be delivered via download, retail, and other distribution methods. Different "channels," which are essentially different game titles, will be maintained on Trion's server, and deliver that dynamic content to users depending on which "channel" they engage with.

The company has so far announced two titles currently in development and set to be published by Trion in North America and Europe -- a fantasy MMORPG helmed by chief creative officer Canegham and an MMO co-developed in partnership with NBC Universal’s Sci-Fi Channel.

Buttler, who serves as Trion's CEO, says that this latest funding represents a continued vote of confidence in the company's technology and approach to interactive entertainment. He added, "This signifies a shift away from static retail products and towards games as dynamic services, which will be simulated increasingly 'in the cloud.'"

[The preceding article by Eric Caoili originally appeared on Worlds in Motion sister site Gamasutra.]