Combining AI and behavioral science, Fable sets fire to old playbook with human risk platform that actually delivers results

SAN FRANCISCO–(BUSINESS WIRE)–Fable Security, the modern human risk management platform, today announced its launch with $31 million in funding from Greylock Partners and Redpoint Ventures. The company is already protecting enterprises and their knowledge workers across critical industries like financial services, healthcare, logistics, technology, and more. Fable directly shapes employee behavior by deploying highly targeted, risk-based interventions to people automatically, in real time, right where they work.

“We chose Fable because its personalized approach to security awareness led to more effective and faster employee behavior change.”Share

Fable was founded by Nicole Jiang (CEO) and Dr. Sanny Liao (CPO), founding team members of Abnormal AI. During their time at the company, they were part of the early team that built the product from the ground up, helped to scale the company to hundreds of millions of ARR, and pioneered the concept of behavioral-based security. Leveraging Liao’s background in adtech, behavioral economics, and AI/ML along with Jiang’s years of experience building both enterprise- and consumer-grade products, they turned their attention to an even more audacious problem: helping enterprises take control of human risk for the first time.

They saw the threat landscape rapidly outpacing defenses. In the last year, for example, over AI-generated phishing attacks rose by 60%, and vishing surged by 442%, fueled by deepfake audio mimicking trusted contacts. These AI-powered scams routinely bypass technical controls—like fake IT help desk calls that trick employees into resetting login credentials.

“Companies spend billions on cybersecurity, but human risk is still the biggest unsolved problem that every security team wants to fix,” said Nicole Jiang, co-founder and CEO of Fable Security. “One-size-fits-all security awareness programs with generic training modules and phishing simulations do little to actually reduce risk. They are unable to handle the volume, speed, or sophistication of AI threats that exist today. Fable is here to change this paradigm, with a platform purpose-built to tackle the full spectrum of risky employee behaviors at scale.”

Today’s security awareness programs leave security teams reporting on click and completion rates that say nothing about real-world behavior. Studies show training doesn’t reduce phishing risk, and some even raise it.

Fable is built to understand how risk emerges from behavior, and to target interventions intelligently, in real time, to measurably change that behavior. At the core of the platform is the Human Behavior Index—Fable’s proprietary framework that synthesizes thousands of real-time signals from identity, access, cloud, endpoint, and productivity systems to identify employee behaviors that introduce risk.

Fable uses these insights to auto-generate highly-targeted AI interventions, including video briefings, nudges, two-way chats, or automated workflows—delivered directly through channels like Slack and email where employees work and communicate. Every intervention is context-aware, timed to moments of heightened risk, and tailored to the employee’s role, access level, and behavior.

With this modern approach, Fable allows organizations to assess risk in real time, shape behavior through targeted, just-in-time interventions, and ensure compliance via audit-ready reporting mapped to specific actions, policies, and regulatory frameworks.

Fable provides a scalable, adaptive system that shrinks human risk with the same technological sophistication and rigor applied to technical controls—turning the most targeted layer in cybersecurity into a new layer of resilience. Customers are seeing these results.

Cyrus Tibbs, CISO at Pennymac, noting a 13x faster behavior change during an A/B test after deploying a personalized Fable intervention versus a generic briefing, explained, “We chose Fable because its personalized approach to security awareness led to more effective and faster employee behavior change.”

Arvin Bansal, veteran Fortune 100 CISO, said, “Human driven risk remains one of the biggest challenges in cybersecurity as missteps can create direct pathways for malicious attacks. As AI-powered threats evolve, we need AI-driven training to keep pace. Platforms like Fable deliver targeted, adaptive education that meets employees where they are, tracks engagement, and evolves with real-time feedback. That kind of precision is essential to reducing human risk across a large, diverse workforce.”

Since launching with its first customer less than a year ago, Fable is already protecting enterprises like Pennymac, Genesys, and the DNC. Fable has enabled customers to reduce phishing clicks by more than 85%, decrease PII exposures by 60%, and double post-training employee engagement. Fable even gives time back to more than 40% of employees by forgoing unnecessary training.

Saam Motamedi, General Partner at Greylock Partners, said: “In the AI era, attackers can now target people with unprecedented precision and effectiveness, making the human layer the most vulnerable layer in security. Fable addresses this head-on by reshaping human behavior with real-time, intelligent interventions. Nicole and Sanny have a distinguished track record of building innovative behavioral AI security products and are redefining the human risk management market at Fable Security.”

Fable has raised a total of $31 million. The company was initiated as part of Greylock Edge and raised a seed round from Greylock Partners, which incubated Palo Alto Networks and Abnormal AI and backed Okta and Wiz. The company fast-followed with a Series A led by Redpoint Ventures, which backed Cyera and Chainguard.

Managing Director at Redpoint Ventures, Erica Brescia, said: “Security awareness training has become a checkbox—ineffective, outdated, and blind to how people actually behave. Fable is the first company I’ve seen that throws out the playbook of a failing category. They’re building what modern security teams truly need: visibility into human risk, tools to actually change behavior, and AI that moves at the speed of attackers.”

The Fable team consists of deep cybersecurity, AI, and behavioral science experts from technology leaders such as Abnormal AI, Palo Alto Networks, Palantir, and Microsoft.

About Fable Security

Fable Security delivers the human risk platform that directly shapes employee behavior. Designed for simplicity and enterprise scale, our agentic platform synthesizes complex employee data, pinpoints risky behaviors, and deploys highly-relevant interventions to people automatically, in real time, right where they work. With Fable, modern enterprises tangibly reduce risk, sharpen security habits, and drive lasting organizational resilience. Backed by Greylock Partners and Redpoint Ventures, Fable is trusted by organizations like Genesys and the DNC. For more information, visit: www.fablesecurity.com

Contacts

Fable Media Contact:
press@fablesecurity.com

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