Fable has raised a total of $37 million across multiple funding rounds, with its largest being a $25 million Series B round in October 2024, backed by Five Elms Capital. The Toronto-based digital accessibility company empowers organizations to build inclusive products, leveraging tools and services designed for people with disabilities. By combining accessibility testing, custom training, and usability measurement tools, Fable aims to make digital products usable by over 1 billion people worldwide.
Keep reading to explore Fable’s funding journey, key investors, and what’s next for this innovative platform.
What Is Fable and What Does It Do?
Founded on April 24, 2018, by Abid Virani, Fable is headquartered in Toronto, Ontario, Canada. The company specializes in digital accessibility, providing software and usability testing services to help organizations create inclusive products.
With a team of 51–100 employees, Fable focuses on accessibility testing, inclusive datasets, and custom training programs. Its mission is to ensure products are usable by all, particularly the 1 billion people globally with disabilities.
How Much Funding Has Fable Raised?
- Grant
- Amount Raised: $75K
- Date: September 2018
- Motivation: To support initial research and development efforts.
- Seed Round
- Amount Raised: CA$2M
- Date: July 2020
- Lead Investors: Disruption Ventures
- Motivation: To expand the team and enhance platform capabilities.
- Series A
- Amount Raised: CA$13.4M
- Date: May 2022
- Lead Investors: Five Elms Capital
- Motivation: To scale operations and increase market reach.
- Series B
- Amount Raised: $25M
- Date: October 2024
- Lead Investors: Five Elms Capital
- Motivation: To build inclusive datasets and teams for AI product development.
Total Funding Raised: $37M (including CA$15.4M + $75K)
Latest Funding Date: October 2024
Key Investors
- Five Elms Capital
- Details: Growth equity firm investing in high-growth software companies, supporting multiple stages of growth.
- Investment Focus Areas: Software, technology, SaaS
- Notable Investments: Fable, NetDocuments, FMX
- Disruption Ventures
- Details: Venture capital firm focused on early-stage investments in innovative companies.
- Investment Focus Areas: Technology, consumer products, healthcare
- Notable Investments: Fable, Nudge Rewards, Tealbook
Where Is Fable’s Headquarters?
Fable is headquartered in Toronto, Ontario, Canada, providing access to a hub of software development talent, accessibility experts, and technology partners to support its mission of inclusive product design.
What’s Next for Fable?
Fable is expanding its tester community to include individuals with hearing and cognitive disabilities, and building inclusive datasets for AI-driven product development. Partnerships with companies like Microsoft and Meta enhance its growth and credibility.
Future fundraising rounds are anticipated to scale operations and tester networks. Key challenges include maintaining high-quality standards while expanding and keeping pace with evolving digital accessibility regulations.
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