Bigfoot Networks secure USD 4 million in Series A financing

Bigfoot Networks, a start-up firm established by Executive MBA students to eliminate lag in online gaming, has announced that it has secured USD 4 million in Series A financing led by Venio Capital Partners.

The company is developing technology to reduce and ultimately eliminate in-game lag and latency problems, benefiting both the online gaming community and online game creators, with the intention of showcasing a beta version of its proprietary Network Gaming Accelerator card at exhibitions including this year's E3 expo.

Harlan Beverly, inventor, co-founder, and CEO of Bigfoot Networks, commented: "Bigfoot Networks products will infuse online gaming with blazing speed, making them a ton more fun. We are to online games what 3D video cards are to graphics: essential. Eventually, we plan to completely eliminate the dreaded lag monster."

The company has yet to reveal details of its technology, and will utilise the new financing to rapidly increase development and initial production of its product, which will be demonstrated at various trade and consumer computer shows. Bigfoot is working towards a full retail release for the new product this summer.

Brian Grigsby, managing partner at Venio Capital Partners, added: "We are 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."

"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," Grisby concluded.