Online lead generation firm Inadco raised $5 million worth of funding, according to an SEC filing. The company didn’t respond to our request for details on who the full investment came from — but another filing reveals that Inadco likely used over $3.3 million worth of the new money to acquire another online ad firm. Matt Coffin, founder of LowerMyBills.com, is on the board of the company and an investor.
Like most other lead generation firms, Chicago-based Inadco is working on its own ad platform. The company recently brought in Rob Gabel, another long-time LowerMyBills.com vet, as its VP; he joins CEO James Walker, who has over a decade of experience in performance-based marketing (including stints at Netblue and Connexus). Both are listed as executive officers in the Inadco filings.