Mobile marketing startup Limbo 41414 pocketed $8 million in a financing round led by Azure Capital Partners, Draper Fisher Jurvetson and New Enterprise Associates.
The Burlingame, Calif.-based firm said it will use the cash to expand on its mobile and online entertainment services for both consumers and marketers. The company, which is headed by former Enpocket executives, offers a “backward auction” service that awards valuable prizes to users with the lowest unique bid.
“Limbo 41414 offers a compelling, effective medium for advertisers to reach the more than 230 million mobile phone users in the United States and Canada,” said Peter Sonsini of New Enterprise Associates, who joined the company’s board under terms of the financing deal. “We look forward to participating in Limbo 41414′s new initiatives and in its continued success in mobile entertainment.”