Fable
San Francisco, US · Founded 2024 · 83 employees on LinkedIn · 6 known investors
Fable offers an AI-powered security awareness platform that delivers short-form training, phishing and social-engineering simulations, and behavior-based interventions to reduce human security risk. It targets employees by role, access, and behavior, providing risk cohorting, customized content, and reporting for human risk management within enterprises.
Founders & leadership
Fable was founded in 2024 by Nicole Jiang and Sanny Liao.
Investors · 6
Also in the syndicate · 2
Valuation · disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.
Company profile
researched Aug 2026DUPLICATE RECORD NOTICE: This database row (profile_id 10268548) is a duplicate of an already-researched and ingested company profile for the identical company, Fable Security (fablesecurity.com), previously captured under profile_id 10079194. Both rows refer to the same legal entity, Fable Security, Inc., founded by Nicole Jiang and Dr. Sanny Liao, headquartered in San Francisco, CA. This narrative is being filed a second time, per project requirements that every profile_id have complete data, but readers/queriers of this database should treat profile_id 10079194 and profile_id 10268548 as referring to one and the same company and should de-duplicate accordingly in any aggregate analysis.
Fable Security, Inc. is a San Francisco-based cybersecurity startup founded in 2024 by Nicole Jiang (also referred to as Nicole Jiang-Gibson), who serves as CEO, and Dr. Sanny Liao, who serves as Chief Product Officer. Both founders were early/founding members of Abnormal Security (also known as Abnormal AI), an AI-powered email-security company valued at roughly $5.1 billion, where Jiang led product and data science and Liao worked on adaptive, behavior-driven systems. Per Forbes, Jiang (31 at the time of the July 2025 profile) had also previously spent about a year each at Microsoft and Palantir; Liao (42) holds a doctorate and has a background in behavioral science. According to the company, while working closely with enterprise customers at Abnormal, Jiang and Liao repeatedly observed that even companies with advanced security technology stacks remained vulnerable to preventable human error -- convincing them that human behavior, not additional technology, was the biggest unsolved problem in cybersecurity. They founded Fable in early 2024 to apply lessons from adtech-style audience targeting and behavioral science to security-awareness and human-risk management.
Fable emerged from stealth on July 28-29, 2025, announcing a total of $31 million in funding raised across two rounds: an approximately $6.5 million Seed round announced/closed in April 2024 and led by Greylock Partners, and a $24.5 million Series A round closed in May 2025 and led by Redpoint Ventures. Y Combinator CEO Garry Tan was also reported by Forbes as an investor. A source familiar with the deal told Forbes the company was valued at approximately $120 million as of the July 2025 raise; this figure has not been independently corroborated by a second primary source and should be treated as a single-source estimate. Greylock's own portfolio page for Fable lists 'First Partnered: Seed' and names Greylock partners Saam Motamedi and Corinne Riley as the firm's investors in the company; Motamedi, who also backed the founders' prior company Abnormal, was quoted in press coverage praising Fable's approach relative to incumbent KnowBe4 (acquired by Vista Equity Partners for $4.6 billion in 2022) and stated he believes Fable could grow into a business with over $1 billion in annual recurring revenue and potentially become a standalone public company.
Business model
B2B SaaS sold to enterprise security/IT teams (CISOs) across industries including financial services, healthcare, logistics and technology; deployed as a human risk management platform integrated with identity, endpoint, cloud, and workplace-communication tools (Slack, Microsoft Teams, email).
Subscription/SaaS licensing to enterprise customers.
▸Full profile — profile (continued), go-to-market, ownership
Profile (continued)
Fable's leadership team, per the company's own About page, includes Nicole Jiang-Gibson (Co-Founder & CEO), Sanny Liao (Co-Founder & CPO), Matthew Fermino (Chief Revenue Officer), and Nick Gorski (VP of Engineering). The platform's four product areas -- Behavioral Interventions, Phishing Simulations, Security Awareness Training, and Human Risk Reporting -- synthesize signals from identity, cloud, access, endpoint, and productivity systems into a continuously updated risk profile for each employee, then deliver personalized, AI-generated interventions (video briefings, chat nudges, targeted training) timed to moments of elevated risk. Confirmed named customers/case-study subjects include Pennymac (CISO Cyrus Tibbs, quoted on faster and more effective employee behavior change and a 2.4x reporting-rate lift with threat briefings), Genesys (a software company profiled in a Fable case study), Dayton Children's Hospital (CIO J.D. Whitlock, who used Fable to rapidly deploy region-specific training after a ransomware attack hit a sister hospital), and the Democratic National Committee, for which Fable ran personalized security briefings for campaign staff ahead of the 2024 U.S. election. An unnamed Fortune 100 CISO (Arvin Bansal) also described strong early results using Fable amid a wave of ransomware attacks in his industry. Fable positions itself against the broader security-awareness-training/human-risk-management category, in which the long-established incumbent is KnowBe4; Fable's CEO has stated the company does not see itself as competing directly with its founders' former employer, Abnormal Security, since Fable addresses 'the holistic human problem' rather than email security specifically.
As of this research (August 2026), Fable Security's website continues to promote data-driven, board-reportable human-risk metrics, citing customer outcomes such as a 43.8x first-year ROI, an 86% drop in phishing click rates, an 82% lift in sanctioned AI-tool adoption, and $700K in first-year cost savings from consolidating point security-awareness tools -- all self-reported by the company on its marketing site as of August 2026 and not independently verified. The company's status remains active/private, with no evidence found of an IPO, acquisition, or shutdown.
Go-to-market
Enterprise security and IT teams in regulated and high-risk industries (financial services, healthcare, logistics, technology); confirmed named customers/users include Pennymac, Genesys, the Democratic National Committee (DNC), and Dayton Children's Hospital.
Ownership
private
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Customers & partners
Named customers · 4
Relationships the company or its partners disclosed publicly — case studies, joint announcements, press.
Timeline · 4
launches, deals, and filingsFable Security emerged from stealth, announcing $31M in total Seed + Series A funding and a valuation reported by Forbes at approximately $120 million.
Fable Security closed a $24.5 million Series A round led by Redpoint Ventures, with participation from investors including Garry Tan.
Fable Security closed an approximately $6.5 million Seed round led by Greylock Partners (publicly disclosed a year later at stealth launch).
Nicole Jiang and Dr. Sanny Liao found Fable Security in early 2024 after working together at Abnormal Security (exact founding date not publicly disclosed).
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Fable Security Jobs (Ashby job board)Fable Security / Ashby · company site
- Human risk management that works like magic | Fable SecurityFable Security · company site
- About Fable Security: Our story, mission, & teamFable Security · company site
- AI-powered anti-phishing training & solutions for employees | Fable SecurityFable Security · company site
- Careers | Fable SecurityFable Security · company site
- Fable | GreylockGreylock Partners · company site
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Fable do?
- Human risk management that works like magic / Secure your human layer at every moment of risk
- Who founded Fable?
- Fable was founded by Nicole Jiang, Sanny Liao in 2024.
- Who are Fable's investors?
- Fable's investors include Artisanal Ventures, Garry Tan, Greylock Partners, Redpoint Ventures.
- Where is Fable headquartered?
- Fable is headquartered in San Francisco, US.