Palo Alto Networks has acquired Console, an AI startup that automates IT help desk tasks using AI agents, for $500 million in cash and stock. The companies officially announced the acquisition on Tuesday, though the terms of the deal were not disclosed. Console, founded in 2024, has raised $29 million across two funding rounds, with a $6.2 million seed led by Thrive Capital and a $23 million Series A co-led by DST Global and Thrive. Before the sale, the startup was valued at $157 million, according to PitchBook. The acquisition marks Palo Alto Networks’ seventh deal in 2026, following the purchase of several other VC-backed companies, including Chronosphere and Koi.
The cybersecurity giant plans to integrate Console into its Cortex platform, which uses AI to detect and neutralize threats. Console’s agentic functionality will enable security teams to investigate and resolve alerts using natural language, as Palo Alto Networks CEO Nikesh Arora described in a statement. This integration is expected to give Cortex the capability to deliver autonomous security outcomes across the entire enterprise. Console’s customers included Ramp, Flock Safety, and Scale AI, and the startup automated tasks such as password resets and app access without direct human involvement.
Console was founded by Andrei Serban, who previously co-founded Fuzzbuzz, a code-security platform acquired by Rippling. The startup competed primarily with Serval, another ServiceNow challenger that reached a $1 billion valuation after raising a $75 million Series B round led by Sequoia last December. Console’s acquisition leaves Serval as the category-leader-to-watch among startups automating IT service management. One investor, who is not a backer of Serval, told TechCrunch that Serval is now the standout in the space.
Source: techcrunch
