Inadco, Inc. said it raised $11 million in a Series B round led by U.S. Venture Partners and joined by existing investor Redpoint Ventures. The company had previously raised a $5 million Series A round from Redpoint, SV Angel, Mike Walrath, former CEO of Right Media, and Matt Coffin, founder of LowerMyBills.com.
Inadco Raises $11 Million Series B Round Led by U.S. Venture Partners
Inadco’s Platform Makes Digital Advertising More Effective and Accountable Through Native Form Ads Across Desktop and Mobile
Palo Alto, CA – June 26, 2013 – Inadco, Inc., a leader in native digital advertising, today announced that it has raised an $11 million Series B round led by U.S. Venture Partners (USVP). Existing investor Redpoint Ventures also participated in the round. The company will use the capital to hire more engineers and continue to build out its technology platform. Inadco previously raised a $5 million Series A round led by Redpoint Ventures, Ron Conway from SV Angel, Mike Walrath, former CEO of Right Media and Matt Coffin, founder of LowerMyBills.com.
“Digital advertising offers marketers lots of opportunities to generate demand, but very few solutions exist for marketers to capture that demand,” said Paul Matteucci, Partner, USVP and Inadco Board member. “We invested in Inadco because their platform helps marketers identify consumers with intent and create native ad units that enable two-way communication and real-time data collection in a way that we’ve never seen before. Inadco is focused on consumers and building ad products that add value to end users.”
As marketers look to move down the purchase funnel and capture demand, Inadco’s native form ads run wherever consumers need them to be, across desktop and mobile. Whether it is in search, display or social, Inadco’s ad units are integrated into the user experience and enable advertisers and consumers to make an intentional connection without the user having to leave the page or app. This is helping brands like ADP, Volkswagen and 21st Century Auto Insurance engage users in new ways and drive measurable results.
“Inadco has an amazing group of investors with a proven track record of success in online marketing and USVP is a great addition,” said James Walker, founder and CEO of Inadco. “Our mission from day one has been to make online advertising more effective and accountable and to empower marketers to reach consumers in a way that is additive to the user experience. This additional capital will help us continue to invest in R&D and deliver more great ad products.”
About Inadco Inadco is a leader in native digital advertising that is making two-way communications between advertisers and consumers more effective and accountable across desktop and mobile. Inadco helps marketers identify consumers with intent and create native ad units that enable advertisers and consumers to make an intentional connection without the user having to leave the page or app. Based in Palo Alto, CA, Inadco is backed by investors with a proven track record of success in online marketing, including U.S. Venture Partners, Redpoint Ventures, Ron Conway, Michael Walrath and Matt Coffin. Companies interested in working with Inadco are encouraged to visit www.Inadco.com for more information.
About U.S. Venture Partners
USVP is a leading venture capital partnership, helping entrepreneurs transform their ideas and efforts into world-changing companies. USVP focuses on early-stage ventures in information technology and health care, where innovation is unbridled and has led to the creation of economic wealth and millions of jobs over the past thirty-plus years of the firm’s existence. Areas of particular interest to our investment professionals include data center and network technology, consumer and business services, digital media, communications, semiconductors, biopharmaceuticals and medical devices. The USVP team consists of former entrepreneurs, technologists, corporate executives, financial professionals and industry domain experts. Find more about USVP’s portfolio company news by following us on Twitter @USVP or liking us on Facebook.