Cavium Networks, a Mountain View semiconductor company, has filed for an initial public offering to raise as much as $86.25 million.

Venture backers include Menlo Ventures, which owns nearly 30 percent of the company, Alliance Ventures, which owns about 14 percent, Diamondhead Ventures (9 percent) and NeoCarta Ventures (5.5 percent).

The company lost a net $9 million for the year endeing Dec. 31, compared to a net loss of about $11.7 million compared t the year before.

From the company’s site:

Security and MIPS® Based Single & Multi-Core Processors for networking, wireless, storage and control plane applications. Cavium Networks offers a broad portfolio of integrated, software compatible processors and accelerator boards ranging in performance from 10 Mbps to 10 Gbps that enable secure, intelligent functionality in SOHO/SME, Enterprise and Service provider network equipment. Cavium Networks processors are supported by a rich ecosystem of software, silicon and ODM hardware solutions from leading vendors in Networking, UTM (unified threat management), Wireless, Voice, Operating System, Java, Motherboard and other areas.