Texas technology Bigfoot Networks, which is planning to market a hardware PC card which is intended to reduce in-game lag for video games, has announced it has achieved $4 Million in Series A financing from Venio Capital Partners.
The company is a start-up company with roots from the McCombs School of Business at the University of Texas at Austin, and was formed by a team of Executive MBA students to improve the performance of online video games.
According to the firm, it will bring to market the world’s first Gaming Network Accelerator card, which will allow online gamers to play their favorite games with less lag. The company explained: "Lag is the number one problem in online video games today, and Bigfoot Networks is the only company in the world whose sole mission is to fight lag", but gave no specific technical explanation about how it intends to do this.
"Bigfoot Networks products will infuse online gaming with blazing speed, making them a ton more fun," says Harlan Beverly, inventor, co-Founder, and CEO of the company. "We are to online games what 3D video cards are to graphics: essential. Eventually, we plan to completely eliminate the dreaded lag monster."
Bigfoot Networks was introduced to Venio Capital Partners through their membership to the Austin Technology Incubator. With the $4 million in funding from Venio, Bigfoot Networks hopes to bring its first product to market this summer. They plan to demonstrate beta versions of their product at several of the major trade shows in 2006, including the popular E3 (Electronics and Entertainment Exposition).
“Venio Capital Partners is very excited about this latest investment given its unique fit within our focus of both technology and entertainment investments. Bigfoot Networks is attacking the number one problem in the very large and growing online gaming market: Lag” said Brian Grigsby, managing partner at Venio Capital Partners. “While Bigfoot Networks is providing a much needed technology solution to online gamers, the makers of online games are experiencing financial losses due to lag as well. Bigfoot Networks has technology we believe can help solve both problems.”