Did a stealth Minnesota startup just stash $18 million bucks in a warchest?


It’s unclear exactly what’s happening at 6465 Wayzata Blvd., but it’s evident that something is scheming inside suite 775, the home of Entrepreneurial Advantage (EA).

The firms address is listed front and center on an SEC disclosure as the ‘principal place of business’ for an opaque entity named Consumer Agent Portal, LLC.

As innocent as the name may sound, the freshly formed enterprise has recently been armed with some massive money bombs, as the document indicates that $18m is secured as part of a larger $30m funding plot.

Standing out on the short list of ‘related persons’ is Robert Rusbuldt, captain of the Independent Insurance Agents & Brokers of America (IIABA) — a 300,000 strong nationwide army of resellers who offer insurance and financial services products.

In an archived article dating back to October 2010, the IIABA described ‘a battle to get the independent agent to the consumer before the direct writer’ through a new web portal and branding campaign called the Consumer Agent Portal, or CAP.  In part, CAP is designed to move independent agents higher up on search engine results, according to the article.

It’s a message consistent with the scope of tactics outlined on EA’s website and a crusade that only makes sense in a world where such middle men have lost their “advantages”.

Not surprisingly, the company is listed as a Delaware Corporation (founded in January 2011), although it’s interesting that none of the persons named in the document appear to reside in Minnesota. If there’s something we’ve learned from pouring through hundreds of filings over the past two years, its that anything is possible — especially when companies want to be quiet about hiding their intentions on the verge of attack.

More as its known…


  • http://twitter.com/casey__allen Casey Allen

    Why MN? Anybody know of any weird regulation that would make MN a more hospitable place to plunk down their HQ here?

    That picture is hilarious.

    • Jeff Pesek

      good question…

    • http://twitter.com/geoffdutton Geoff Dutton

      The weather.