Bigfoot Networks snags $8.75M

Gaming device maker Bigfoot Networks Inc. has secured $8.75 million in Series B funding to expand its engineering team and sales efforts.

The Austin company, founded in 2005, produces network interface cards that trim the lag time for people who play multiplayer online games. The company previously raised $4 million in 2006.

The round was led by North Bridge Venture Partners of Waltham, Mass., and Palomar Ventures of Santa Monica, Calif. Previous investor Venio Capital Partners also participated.

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Barry Raskin, vice president of marketing, says the funding will fuel much-needed growth in engineering and sales.

"Our sales have been growing quarter over quarter," Raskin says. "We find our growth has been limited because we needed additional working capital."

Bigfoot Networks employs 20 people and plans to have 30 by the end of the year. The company will move out of the Austin Technology Incubator soon.

Bigfoot Networks has been marketing products for the past year in the United States, Canada and Europe.