Index Ventures led funding for Frame Security’s $50 million launch, betting that cybersecurity awareness training must be redesigned around how employees actually work. The startup—using AI-generated simulations—positions its product as “human risk security,” reflecting the view that AI makes phishing and social engineering cheaper, faster, and more convincing. With reported adoption of security awareness training near-universal levels, the bet is that companies are still vulnerable because generic training fails against increasingly tailored attacks.