Burlingame, Calif. - Limbo 41414, the developer of a Web and mobile entertainment product called the Limbo Auction, announced on Wednesday that it has raised $8 million in new financing, led by New Enterprise Associates.

Azure Capital Partners and Draper Fisher Jurvetson also participated in the funding round.

Burlingame, Calif.-based Limbo 41414 said it has thus far awarded over 650 auction winners -- who placed the lowest unique bid at the auction's end -- with over $530,000 in prizes.

The company will use the funds to deliver an expanded array of mobile and online entertainment services to consumers and marketers.

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