Total amount raised
$37 Millions
Latest funding date
Location
Fable has successfully raised $25 million in its latest Series B funding round, backed by investors such as Five Elms Capital and Disruption Ventures. The platform specializes in digital accessibility, powered by people with disabilities, offering tools and services to help organizations build inclusive products.
Keep reading to explore the intricacies of Fable's fundraising journey and the investors backing this innovative platform.
What Is Fable?
Fable, founded on April 24, 2018, is a leading platform in the digital accessibility industry. Headquartered in Toronto, Ontario, Canada, the company operates in the software and usability testing sectors. It was founded by Abid Virani and employs between 51-100 people.
Fable specializes in making digital products accessible for over 1 billion people with disabilities. Their services include accessibility testing, custom training, and tools to measure digital usability. The company is known for its commitment to inclusivity and high security standards.
How Much Funding Has Fable Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish initial operations and develop the core platform.
- Seed Round
- Amount Raised: CA$2M
- Date: July 2020
- Lead Investors: Disruption Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series A
- Amount Raised: CA$13.4M
- Date: May 2022
- Lead Investors: Five Elms Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Series B
- Amount Raised: $25M
- Date: October 2024
- Lead Investors: Five Elms Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build inclusive datasets and teams for AI product development.
- Grant
- Amount Raised: $75K
- Date: September 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial research and development efforts.
Total Amount Raised: $25M + CA$15.4M + $75K
Current Valuation: Not publicly disclosed
Key Investors
- Five Elms Capital
- Details: Five Elms Capital is a growth equity firm that invests in high-growth software companies. They have a strong track record of supporting companies through various stages of growth.
- Investment Focus Areas: Software, technology, SaaS.
- Notable Investments: Fable, NetDocuments, FMX.
- Disruption Ventures
- Details: Disruption Ventures is a venture capital firm that focuses on early-stage investments. They aim to support innovative companies with the potential to disrupt their respective industries.
- Investment Focus Areas: Technology, consumer products, healthcare.
- Notable Investments: Fable, Nudge Rewards, Tealbook.
What's Next for Fable?
Fable's future is brimming with opportunities, particularly in building inclusive datasets and expanding their tester community to include individuals with hearing and cognitive disabilities. These initiatives align with the growing industry focus on digital accessibility and AI-driven product development, positioning Fable to serve over 1 billion people with disabilities.
Given the successful Series B funding, Fable is well-poised for future fundraising rounds. The company's partnerships with industry giants like Microsoft and Meta further bolster its growth prospects. However, challenges such as maintaining high standards while scaling the tester community and staying ahead of evolving accessibility standards remain.
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