Google Cloud Integrates with Self, a ZK-Powered Identity Protocol, to Power AI Adoption and Web3 Innovation by Human Users
Self's use of zero-knowledge technology ensures that nobody––even the developers of the protocol itself––has access to users' private information. By leveraging zk-SNARK cryptography, users can prove their humanity and selectively disclose personal attributes (e.g., age), without having to reveal sensitive information (e.g., date of birth). Data is never stored by an external entity, and is, therefore, impossible to leak.
With over 8M users, Self supports 1 billion biometric passport holders from 129 countries, in addition to tens of millions of biometric ID holders across 27 European Union countries, Turkey, Ukraine, Vietnam, Ghana, and Saudi Arabia. Fully audited by third-party zkSecurity, Self is the only leader in the space that is production-ready, live across iOS and Google Play Store, and doesn't rely on additional dependencies such as biometric hardware.
Google Cloud and Self will partner to support the web3 developer ecosystem with new AI capabilities, including exploring ways to integrate the Self Protocol with emerging AI search tools in its Web3 Portal. In addition, Google Cloud's Testnet Faucet will integrate with Self's proof-of-humanity ZKPs for sybil resistance. Furthermore, Google Cloud will launch a first-of-its-kind Mainnet Faucet offering that will utilize Self's OFAC list's exclusion proofs for the purpose of sanctions screening.
This partnership marks an ongoing commitment by Self and Google Cloud to promote the privacy and protection of users by harnessing cryptographic ZKPs, as with its announcement to enhance Google Wallets in the UK for age verification (April 2025), and more recently, to promote privacy in supporting EU age assurance (July 2025).
'The acceleration of AI in the Web3 developer ecosystem is lowering the barrier to entry for developers building in this space,' says Richard Widmann, Head of Strategy, Web3, Google Cloud. 'Our work with Celo and Self to bring together ZKP-enabled identity technology with our Web3 developer tools on the Google Cloud Web3 Portal is a perfect opportunity to demonstrate the value and timeliness of these technologies.'
'Since launching earlier this year, Self has proven to be superior in technology and accessibility,' says Marek Olszewski, Self Co-Founder. 'We are honored that Google chose our SDK to provide secure, privacy-first identity solutions, and to further drive AI and Web3 innovation for real people.'
Self supports both offchain and onchain attestations, with onchain attestations occurring on the Celo blockchain, where Google Cloud ran a validator; Google Cloud has also been a longtime Celo partner since 2018, supporting the development of the protocol and sustainability-focused startups across the Celo ecosystem.
Download the Self mobile app on iOS & Android today, and visit Google Cloud for Web3 here.
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23 minutes ago
- Business Wire
VERIMATRIX: H1 2025 Revenue and Results
AIX-EN-PROVENCE, France & SAN DIEGO--(BUSINESS WIRE)--Regulatory News: VERIMATRIX (Euronext Paris: VMX, FR0010291245), a leading provider of security solutions for a safer connected world, is publishing its second quarter revenue and results for the six month period ended June 30, 2025. 'During the first half of 2025, Verimatrix operated in a more mixed environment, marked by a slowdown in activity and the deferral of orders. In this context, the Group has shown resilience and stayed the course thanks to a clear strategy focused on innovation, digital security and continuous adaptation to the needs of its customers worldwide. The recognition it obtained – including the 2025 Intellyx Digital Innovator Award and Leader and Ace Performer status by QKS Group in its 2025 SPARK MatrixTM: In-App Protection report – highlights our unique arsenal of in-app protection solutions and confirms the relevance of our technological and strategic directions. I would like to acknowledge the commitment and professionalism of all the teams, who remain fully committed to supporting Verimatrix's transformation. Despite the wait-and-see stance observed in our main markets, we are approaching the second half of the year with determination, underpinned by solid fundamentals and a clearly defined roadmap for recurring and sustainable growth', says Amedeo D'Angelo, Executive Chairman of VERIMATRIX. *** Amedeo D'Angelo, Executive Chairman, and Jean-François Labadie, Chief Financial Officer, will host a webcast today at 6.00 p.m. to present Q2 2025 revenue and H1 2025 results. To join the webcast, click on the following link: 'Q2 2025 revenue and H2 2025 results' To join the webcast in audio only, call the following number: France: +33 (0)4 88 80 09 30 Phone Conference ID: 465 325 068# *** Q2 2025 revenue and Annual Recurring Revenue (ARR) (in US$ million) Q2 2025 Q2 2024 Var. Recurring revenue 8.7 8.6 +1% of which subscriptions 4.7 4.4 +8% of which maintenance 3.9 4.2 -6% Non-recurring revenue 6.3 8.0 -21% Total revenue 15.0 16.6 -10% ARR 31.7 32.0 -1% of which subscriptions 18.4 16.8 +10% of which maintenance 13.2 15.3 -13% Expand In the second quarter of 2025, VERIMATRIX made consolidated revenue of $15.0 million, down 10% on the same period in 2024. Note that this represented an increase of 30% (+$3.5 million) compared to the first quarter of 2025, which had been significantly impacted by the macroeconomic environment and order deferrals. Recurring revenue Recurring revenue in Q2 came to $8.7 million, slightly higher than in Q2 2024. Subscription revenue remained strong at $4.7 million, up 8%, while maintenance revenue was down 6%. Non-recurring revenue After a complex first quarter 2025, non-recurring revenue showed a more positive trend, reaching $6.3 million in Q2. The Group benefited from several significant sales of perpetual license contracts, amounting to nearly $4 million, confirming steady interest from traditional broadcasting customers. However, this level is still significantly lower than that seen in Q2 2024 ($8 million). Annual recurring revenue (ARR) Total ARR at June 30, 2025 was $31.7 million, down by a slight 1% compared to June 30, 2024, and down in relation to $33.2 million recorded at the end of March 2025. ARR from subscriptions rose by 10% compared to Q2 2024, reaching $18.4 million, in line with the target announced by the Group at the beginning of the year to achieve another year of double-digit growth in ARR from subscriptions in 2025. ARR from subscriptions in Q2 was stable versus Q1 ($18.5 million). While a contract with a long-standing banking client of the Group was terminated, also impacting ARR from maintenance, the sales teams were able to extend services to certain customers and successfully converted several prospective contracts with video operators to our subscription offers, particularly in Latin Europe. H1 2025 revenue (in US$ million) H1 2025 H1 2024 Chg. Recurring revenue 17.3 17.1 +1% of which subscriptions 9.3 8.6 +9% of which maintenance 7.9 8.5 -7% Non-recurring revenue 9.2 13.7 -33% Total revenue 26.5 30.8 -14% Expand Revenue for the first half of 2025 was down 14% versus the first half of 2024. Recurring revenue rose by 1% to $17.3 million, thanks to strong subscription revenue, which rose by 9% to $9.3 million. At June 30, 2025, recurring revenue accounted for 65% of VERIMATRIX's total revenue. Non-recurring revenue fell 33% to $9.2 million, significantly impacted by the first quarter, during which license sales more than halved compared to the first quarter of 2024. - H1 2025 revenue by business activity: Anti-Piracy revenue reached $23.9 million, down 16% in H1, and accounting for 90% of the Group's total activity. Business activity was characterized by success in winning a major contract with a long-standing telecom operator in South America and the extension of commercial decision-making from new customers. Extended Threat Defense (XTD) revenue amounted to $2.6 million, up 6% on the first half of 2024, confirming the market's interest in this product range. - H1 2025 revenue by region: The Group's revenue figures by region reflect the overall evolution of the Group's activity, with mixed performances depending on the geographical area. Revenue in the EMEA region came to $13.7 million, up 24% (51% of VERIMATRIX's total revenue in the first half of 2025). Revenue in Asia Pacific was $2.8 million, down 20% over the first half. Revenue in Latin America was $5.3 million, down by a sharp 55%; this is the third consecutive quarter of decline, attributable to ongoing political and economic instability in the Group's main locations, namely Brazil, Colombia, Mexico and Argentina. Revenue in the United States and Canada reached $4.7 million (18% of VERIMATRIX's total revenue in the first half of 2025), a slight increase of 8%. Results for H1 2025 (in US$ million) H1 2025 H1 2024 Chg. Revenue 26.5 30.8 -13.9% Gross profit 17.7 21.5 -17.7% As a % of revenue 66.6% 69.7% Research & development expenses (8.6) (9.6) -10.9% Sales and marketing expenses (4.8) (7.1) -32.7% General & administrative expenses (4.8) (5.9) 19.4% Other gains / (losses), net 0.1 (0.1) -245.3% Total adjusted operating expenses (18.0) (22.7) -20.7% As a % of revenue -67.8% -73.6% Adjusted EBITDA 2.5 1.7 +49.2% As a % of revenue 9.5% 5.5% Adjusted operating income (0.3) (1.2) -73.9% As a % of revenue -1.2% -3.9% Financial income / (loss) (2.3) (1.5) 51.1% Income tax expenses (0.7) (0.5) +32.2% Adjusted net income / (loss) (3.3) (3.3) +2.3% Expand In the first half of 2025, VERIMATRIX generated a gross profit of $17.7 million, i.e. 66.6% of revenue compared to 69.7% in the same period the previous year. Despite an improvement in its production and support costs over the period, the fall in non-recurring revenue was too strong for it to maintain the same level of profitability as seen in the first half of 2024. Research and development expenses continued to be closely managed and were adjusted according to the Group's activity levels and customers' expressed needs. They fell by more than 10% to $8.6 million. Sales and marketing expenses were also down sharply, by $2.3 million compared to the first half of 2024. This is in line with the Group's wish to refocus on commercial operations that generate a strong return on investment and generate direct commercial leads, with more targeted attendance at events and trade shows specializing in the field of cybersecurity. Total operating expenses came to $18 million, down $4.7 million from the first half of 2024 and by $1.3 million from the second half of 2024. Adjusted EBITDA improved substantially to $2.5 million in the first half of 2025, compared to $1.7 million in the first half of 2024 and $2.8 million in full-year 2024. Financial expenses and the tax expense increased by 51% and 32% respectively compared to the first half of 2024. This resulted in an adjusted net loss of $3.3m, compared with $3.3m in the first half of 2024. In accordance with IFRS, and as part of the fair valuation of its assets, Group also recognised an asset impairment charge of $60m at 30 June. The Group's consolidated net result therefore shows a loss of $65m. Reconciliation of adjusted operating income to IFRS operating income and net income (in millions of dollars) H1 2025 H1 2024 Adjusted operating income (0.3) (1.2) Amortization and impairment of assets recognised on acquisitions of businesses and/or businesses (items with no cash impact) (0.3) Acquisition-related costs (0.0) - Non-recurring costs related to restructuring (1.2) (0.5) Share-based payments (0.5) (0.3) Impairment loss / goodwill impairment (60.0) Operating income (expense) (62.0) (2.3) Net financial income / (expense) (2.3) (1.5) Income tax expenses (0.7) (0.5) Net income (expense) from continuing operations (65.0) (4.4) Expand Financial position and cash flow (In millions of US$) H1 2025 H1 2024 Income / (loss) for the period (65.0) (4.4) Non cash income statement items from continuing activities 6.1 5.5 Impairment loss / goodwill impairment 60.0 - Changes in working capital from continuing operations (2.7) (6.9) Cash generated by operating activities (1.6) (5.9) Taxes paid (0.6) (0.5) Interests paid (1.4) (1.8) Net cash generated by / (used in) operating activities (3.6) (8.2) Purchases of property and equipment (0,3) (0.0) Purchases of intangible assets (0,8) (1.0) Cash flows from investing activities (1.1) (1.0) Loan repayments - - Reimbursement of lease commitments under IFRS16 (0.7) (0.9) Cash flows from financing activities (0.7) (0.9) Effect of exchange rate fluctuation (0.2) 0.2 Net increase in cash and cash equivalents (5.7) (10.0) Cash and cash equivalents at beginning of the period 11.0 22.6 Cash and cash equivalents at end of the period 5.3 12.6 Expand The first half of 2025 was marked by a deterioration in cash and cash equivalents to $5.3 million (compared to $12.6 million at end-June 2024 and $11 million at end-December 2024), attributable to the deferral of customer inflows, mainly in Latin America. The short-term position of the debt is currently under discussion with the Apera Group, aiming at optimising the conditions of downpayment of the debt. The debt with Apera Group has been reclassified as a short term. Outlook for 2025 VERIMATRIX's security solutions help companies to comply with and meet the strictest regulatory standards such as those in the media and entertainment, sports content, telecommunications, finance and healthcare sectors. In 2025, VERIMATRIX intends to continue winning new market share and to accelerate the dissemination of its solutions across all these business segments. Despite the economic downturn, ARR from subscriptions is again expected to show double-digit growth over the full year. This commercial performance will also be accompanied by a further improvement in profitability, albeit below initial forecasts. The ratio of EBITDA to annual sales should therefore be slightly higher than the level achieved in 2024 (4.9%), contrary to the initial target of 10% communicated by the Group at the start of the year. Next event: Publication of Q3 revenue: October 22, 2025 (after market close) About VERIMATRIX VERIMATRIX (Euronext Paris: VMX) is contributing to making the connected world safer through its user-friendly security solutions. The Group protects content, applications and smart objects by providing intuitive, unconstrained and fully user-oriented security. The leading players in the market trust VERIMATRIX to protect their content, including premium films, sports streaming, sensitive financial and medical data, and the mobile applications essential to their business. VERIMATRIX ensures a relationship of trust that its customers count on to deliver quality content and service to millions of consumers worldwide. VERIMATRIX supports its partners, bringing them faster access to the market and helping them to develop their business, safeguard their revenue and win new customers. Find out more at Supplementary non-IFRS financial information Verimatrix uses performance indicators that are not strictly accounting measures in accordance with IFRS. They are defined in Appendix 1 of this press release. They should be considered as additional information, which cannot replace any other strictly accounting-based operating or financial performance measure, as presented in the consolidated financial statements, including the income statement set out in Appendix 1 hereof. Forward-looking statements This press release contains certain forward-looking statements concerning Verimatrix. Although Verimatrix believes its expectations to be based on reasonable assumptions, they do not constitute guarantees of future performance. Accordingly, the Company's actual results may differ materially from those anticipated in these forward-looking statements owing to a number of risks and uncertainties. Appendix 1 — Additional non-IFRS financial information — Reconciliation of IFRS results with the adjusted results The performance indicators presented in this press release that are not strictly accounting metrics are defined below. These indicators are not aggregates defined under IFRS and do not constitute accounting metrics used to measure the Company's financial performance. They must be considered supplemental information which is not a substitute for any operational and financial metric of a strictly accounting nature, as presented in the Company's consolidated financial statements and accompanying notes. The Company uses these indicators because it believes they are relevant measures of its current operating profitability and operating cash flow generation. Although generally used by companies in the same sector around the world, these indicators may not be strictly comparable to those of other companies as they may be defined or calculated differently even though similarly labeled. Adjusted gross profit is defined as gross profit before (i) the amortization of intangible assets related to business combinations, (ii) any potential goodwill impairment, (iii) share-based payment expenses and (iv) non-recurring costs associated with restructuring and acquisitions and disposals carried out by the Company. Adjusted operating profit is defined as operating profit before (i) the amortization of intangible assets related to business combinations, (ii) any potential goodwill impairment, (iii) share-based payment expenses and (iv) non-recurring costs associated with restructuring and acquisitions and disposals carried out by the Company. EBITDA is defined as adjusted operating profit before depreciation, amortization and impairment expenses not related to business combinations. Annual recurring revenue (ARR) corresponds to the annualized value of all recurring revenue from contracts in place at the time of measurement. ARR includes all types of contracts that generate recurring revenue and for which revenue is currently recognized. ARR is a rolling number that accumulates over time whereas the total contract value (TCV) metric also used by the Company is typically used to measure (new or incremental) orders made within a period. The Company computes an ARR for SaaS and non-SaaS subscriptions and ARR combining subscriptions and maintenance. Reconciliation of net debt (in millions of US$) June 30, 2025 December 31, 2024 June 30, 2024 Cash and cash equivalents 5.3 11.0 12.6 Private loan note due in 2026 (17.8) (18.2) (24.6) Other borrowings (8.7) (7.7) (7.9) Net cash/(debt) (21.2) (14.9) (19.8) Lease liabilities (IFRS16) (5.7) (6.4) (7.2) Net cash/(debt) including IFRS16 (26.8) (21.3) (27.0) Expand Appendix 2 — Consolidated financial statements (IFRS) Consolidated income statement (in millions of US$) Six month period ended June 30, 2025 2024 Revenue 26.5 30.8 Cost of sales (8.9) (9.5) Gross profit 17.7 21.3 Research and development expenses (8.6) (9.8) Sales and marketing expenses (4.8) (7.0) General and administrative expenses (5.2) (6.2) Other net operating income/(expenses) (1.1) (0.6) Impairment loss / goodwill impairment (60.0) - Operating income/(expense) (62.0) (2.3) Cost of net financial debt (1.5) (2.0) Other net financial income/(expenses) (0.8) 0.5 Profit/(loss) before income tax (64.3) (3.9) Income tax expense (0.7) (0.5) Consolidated net profit/(loss) (65.0) (4.4) Expand Consolidated balance sheet Assets (in millions of US$) June 30, 2025 December 31, 2024 Goodwill 55.2 115.2 Intangible fixed assets 9.1 10.5 Property, plant and equipment 3.9 4.2 Other assets 0.8 1.1 Total non-current assets 69.1 131.0 Inventories 0.4 0.4 Accounts receivable 26.8 26.8 Other current assets 3.3 2.7 Derivative financial assets 0.2 - Cash and cash equivalents 5.3 11.0 Total current assets 35.9 40.9 Total assets 105.0 171.9 Expand Liabilities and shareholders' equity (in millions of US$) June 30, 2025 December 31, 2024 Capital 42.3 41.5 Issue premiums 94.0 94.7 Reserves and retained earnings (24.0) (14.4) Profit/(loss) for the period (65.0) (10.3) Equity - Group share 47.3 111.5 Non-controlling interests - - Total shareholders' equity 47.3 111.5 Financial liabilities 12.5 29.9 Provisions for liabilities 0.8 1.0 Deferred tax liabilities 1.1 1.0 Total non-current liabilities 14.4 31.8 Financial liabilities 19.6 2.4 Trade payables 3.7 4.2 Other liabilities 7.8 8.0 Derivative instruments 0.0 0.3 Provisions 0.2 0.2 Deferred income 12.0 13.5 Total current liabilities 43.3 28.6 Total liabilities 57.7 60.4 Total liabilities and shareholders' equity 105.0 171.9 Expand Cash flow (in millions of US$) June 30, 2025 June 30, 2024 Net income/(loss) (65.0) (4.4) Elimination of items with no impact on cash 6.1 5.5 Impairment loss / goodwill impairment 60.0 - Change in working capital requirement (2.7) (6.9) Cash from operating activities (1.6) (5.9) Taxes paid (0.6) (0.5) Interest paid (1.4) (1.8) Net cash from operating activities (3.6) (8.2) Acquisitions of property, plant and equipment (0.3) (0.0) Acquisitions of intangible assets (0.8) (1.0) Net cash flow from investment activities (1.1) (1.0) Repayment of loans - - Repayment of lease liabilities under IFRS16 (0.7) (0.9) Net cash flow from financing activities (0.7) (0.9) Impact of exchange rate on cash (0.2) 0.2 Change in net cash position (5.7) (10.0) Cash and cash equivalents at start of period 11.0 22.6 Cash and cash equivalents at end of period 5.3 12.6 Expand
Business Wire
23 minutes ago
- Business Wire
Stonepeak Launches European Renewable Land Aggregation Platform JouleTerra
NEW YORK--(BUSINESS WIRE)--Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the creation of JouleTerra, a land aggregation platform ('JouleTerra' or 'the Platform') dedicated to building a diversified portfolio of grid-connected sites with the ability to support the development of critical renewable energy infrastructure across Europe. Through JouleTerra, Stonepeak will acquire and lease land to renewable operators under long-term contracts, allowing them access to land they would have otherwise had to procure and develop themselves through capital-intensive processes. Stonepeak intends to grow the Platform over time through acquisitions of both existing platforms and undeveloped land, for which it will secure appropriate permitting and grid connections until the land becomes ready-to-build. The firm's two previously announced investments in Electric Land and Solaria's Generia Land represent the Platform's inaugural transactions. Anthony Borreca, Senior Managing Director and Co-Head of Energy at Stonepeak, said, 'While we continue to see surging demand for renewable energy generation across Europe, the availability of grid-connected, development-ready land able to support this infrastructure buildout continues to lag. Through JouleTerra, we are excited to broaden the availability of this critical resource, leveraging our extensive expertise in platform building and renewable energy investing to effectively support the renewables value chain.' He added, 'JouleTerra represents a compelling, first-mover opportunity for Stonepeak as platforms of this nature backed by a global network such as ours do not yet exist in Europe at scale. We look forward to expanding the Platform and playing a meaningful role in the development of critical energy transformation-related infrastructure in Europe over the long-term.' Stonepeak has significant experience building and scaling platforms to support global energy transformation, employing an all of the above approach to investing in energy infrastructure. Select examples include Peak Energy, Synera Renewable Energy, and TerraWind Renewables, which are all dedicated to the development, ownership, and operation of renewable assets in Asia. Stonepeak has also supported the development and operation of distributed solar generation assets in North America through its platform Madison Energy Investments, which the firm fully realized in 2023. The two most recent platforms Stonepeak has launched are Lestari Cooling Energy, the firm's joint venture with KJTS in Malaysia which will be dedicated to developing and investing in district cooling facilities in Southeast Asia, and Longview Infrastructure, a North American transmission development and investment platform. About Stonepeak Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $73 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include transport and logistics, digital infrastructure, energy and energy transition, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. For more information, please visit
Business Wire
23 minutes ago
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Fable Security Launches With $31M to Stop Risky Human Behavior
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.' 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:
