Fable Security, Inc.

Fable Security, Inc. is a San Francisco-based cybersecurity startup founded in 2024 by Nicole Jiang (Jiang-Gibson) and Dr. Sanny Liao, both former colleagues at Abnormal Security (also referred to as Abnormal AI), the email-security unicorn. Jiang led product and design at Abnormal Security and previously worked at Palantir, Microsoft, and Mixpanel; Liao led data science/adaptive learning systems at Abnormal Security and previously at TellApart, and has an academic background in behavioral science. In interviews, Jiang has described the founding story: while working closely with a large enterprise customer at Abnormal, she and Liao witnessed a live breach at a resort property caused not by a technical failure but by a vishing (voice phishing) call that bypassed a sophisticated security stack — convincing them that 'human error,' not technology gaps, was cybersecurity's biggest unsolved problem. Jiang has also spoken publicly about her personal background, having emigrated as a teenager from China to Toronto, Canada, where she worked to help support her family.

Fable emerged from stealth on July 28, 2025, announcing $31 million in total funding: a $6.5M Series Seed round led by Greylock Partners, and a $24.5M Series A led by Redpoint Ventures (with Greylock also participating in aggregate reporting of the $31M). The company was 'initiated through Greylock Edge,' Greylock's program for incubating new companies alongside operator-founders. Greylock general partner Saam Motamedi was the public face of Greylock's involvement, both quoted in the funding announcement and as author of Greylock's 'Introducing Fable: AI-native human risk management' portfolio post. Redpoint Ventures managing director Erica Brescia was also quoted supporting the company. No source found explicitly names a formal board seat holder, so the specific Greylock board representative could not be independently confirmed beyond Motamedi's visible championing of the deal.

Fable's core platform frames human risk management through an adtech lens: rather than broadcasting generic training, it aggregates identity, access, cloud, endpoint, and workspace signals into a 'Human Behavior Index,' segments employees into risk cohorts (similar to ad audience segmentation), and delivers highly targeted interventions — short (60-120 second) AI-generated video briefings, ~30-word Slack/Teams/email nudges, and conversational coaching — timed to actual risky behavior. The company reports strong outcome metrics from customers: phishing-click reductions of ~85-86% (Pennymac, BILL), PII-exposure reductions of 60% (a financial-services customer), 13x faster behavior change vs. legacy training (Pennymac A/B test), 97% faster credential-rotation response (5 days to 4 hours at a financial-services firm), 99% device/OS compliance (the DNC), and a 4.8/5 average employee rating of its video content. Confirmed named customers include Pennymac, Genesys, the Democratic National Committee (DNC), fintech company BILL, and Dayton Children's Hospital (used during a regional ransomware incident affecting a sister hospital). Additional executives quoted as apparent customers/users in company materials include CISOs/leaders at Upwind, Alteryx, Telit Cinterion, and Advance, and a former director at Carta and former CISO at Corvus Insurance gave supportive testimonials (their status as paying customers vs. informal endorsers is less certain).

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.

Subscription/SaaS licensing to enterprise customers; per CEO Nicole Jiang in a July 2026 interview, the company was 'currently below $10M ARR with strong triple-digit growth.'