PacketTrap, a San Francisco–based provider of free network management tools for IT departments, has raised $5 million in in a first round of funding. August Capital led the round, and was joined by individual angels, according to the company’s statement.

It is founded by the people who ran Lasso Logic, a data backup company acquired by SonicWALL  in 2005.

The product, based on open-source, is still in development will let IT managers oversee a company’s network’s activity from a single screen. A premium version will cost about $1,000. The products will be released next year.

It faces competition. Other companies include GroundWork OpenSource (see our coverage), Ipswitch, Kace Networks and