Fable

DUPLICATE 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.