Spur Intelligence, a company specializing in IP intelligence and bot detection, has secured a $200 million investment from Insight Partners, marking the firm’s first outside funding after nine years of bootstrapped operations.

Founded in 2017, the US-based company plans to use the capital to accelerate product development and scale operations. Spur’s core business is giving organizations visibility into anonymized, proxied, and obfuscated web traffic, helping them reduce fraud and meet compliance requirements.

Addressing a Growing Blind Spot

The investment comes as threat actors increasingly rely on VPNs, residential proxy networks, mobile gateways, bot networks, and other anonymization infrastructure to evade fraud and security controls. Spur says its platform is built specifically to identify these intentionally obscured network connections that traditional detection tools often miss.

The company’s detection capabilities are derived from continuous observation and analysis of real-world network behavior across anonymized infrastructure. Spur delivers this intelligence through several channels, including data feeds, APIs, and session enrichment, along with integrations into existing analytics, authentication, compliance, fraud scoring, and threat detection systems.

Insight Partners’ Rationale

Thomas Krane, managing director at Insight Partners, characterized the investment as a bet on a structural shift in fraud prevention. He noted that as sophisticated criminal VPNs, residential proxy networks, and anonymization infrastructure proliferate, organizations increasingly can see suspicious activity but not the underlying infrastructure generating it.

Krane said Spur has built one of the more comprehensive and actionable intelligence layers for determining the true origin of internet traffic, giving security and fraud teams the visibility needed to make faster, more confident decisions.

Context

The deal is part of a broader wave of investment activity in the security startup space, which has recently included funding rounds for OT security, AI agent governance, and email security firms. Spur’s raise stands out both for its size and for the fact that the company operated without outside capital for nearly a decade before taking on institutional investment.