The Inert Doublet Model relies on a discrete symmetry to prevent couplings of the new scalars to Standard Model fermions. This stabilizes the lightest inert state, which can then contribute to the observed dark matter density. In the presence of additional approximate symmetries, the resulting spectrum of exotic scalars can be compressed. Here, we study the phenomenological and cosmological implications of this scenario. We derive new limits on the compressed Inert Doublet Model from LEP, and outline the prospects for exclusion and discovery of this model at dark matter experiments, the LHC, and future colliders.