HomePalo Alto Networks acquires Thrive-backed Console in $500 million deal
Palo Alto Networks has agreed to acquire Console, a two-year-old startup leveraging AI agents to automate routine IT help desk operations, for $500 million in cash and stock, according to two individuals familiar with the transaction.
While the companies confirmed the deal on Tuesday, specific financial terms remain undisclosed. Since its inception in 2024, Console has secured $29 million across two funding rounds: a $6.2 million seed round led by Thrive Capital, followed by a $23 million Series A co-led by DST Global and Thrive.
Prior to the acquisition, Console was valued at $157 million, according to PitchBook, providing a swift return for investors such as SV Angel, Abstract Ventures, and Palo Alto Networks CEO Nikesh Arora, who invested as an angel. Palo Alto Networks declined to provide further comment.
The cybersecurity leader plans to integrate Console’s capabilities into Cortex, its AI-driven platform for threat detection and neutralization. Console’s agentic features will enable security teams to investigate and resolve alerts using natural language, granting Cortex “the arms and legs to deliver autonomous security outcomes across the entire enterprise,” Arora stated.
Founded by Andrei Serban, who previously sold his code-security startup Fuzzbuzz to Rippling, Console served clients including Ramp, Flock Safety, and Scale AI. The platform automated tasks such as password resets, app access grants for tools like Figma and Miro, and routine troubleshooting without human intervention.
As an independent startup, Console competed with Serval, another ServiceNow competitor that achieved a $1 billion valuation following a $75 million Series B round led by Sequoia last December. Serval expanded from AI tech support to assist HR, legal, and finance departments. Console’s acquisition positions Serval as the key startup to watch in automating IT service management, according to one investor not affiliated with Serval.
According to PitchBook, this marks Palo Alto Networks’ seventh acquisition in 2026. Other VC-backed companies acquired by the cybersecurity giant this year include Chronosphere, an observability platform backed by Greylock and Lux Capital, valued at $3.35 billion, and Koi, a cyber startup backed by Battery and Team8, for $400 million.
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Palo Alto Networks has agreed to acquire Console, a two-year-old startup leveraging AI agents to automate routine IT help desk operations, for $500 million in cash and stock, according to two individuals familiar with the transaction.
While the companies confirmed the deal on Tuesday, specific financial terms remain undisclosed. Since its inception in 2024, Console has secured $29 million across two funding rounds: a $6.2 million seed round led by Thrive Capital, followed by a $23 million Series A co-led by DST Global and Thrive.
Prior to the acquisition, Console was valued at $157 million, according to PitchBook, providing a swift return for investors such as SV Angel, Abstract Ventures, and Palo Alto Networks CEO Nikesh Arora, who invested as an angel. Palo Alto Networks declined to provide further comment.
The cybersecurity leader plans to integrate Console’s capabilities into Cortex, its AI-driven platform for threat detection and neutralization. Console’s agentic features will enable security teams to investigate and resolve alerts using natural language, granting Cortex “the arms and legs to deliver autonomous security outcomes across the entire enterprise,” Arora stated.
Founded by Andrei Serban, who previously sold his code-security startup Fuzzbuzz to Rippling, Console served clients including Ramp, Flock Safety, and Scale AI. The platform automated tasks such as password resets, app access grants for tools like Figma and Miro, and routine troubleshooting without human intervention.
As an independent startup, Console competed with Serval, another ServiceNow competitor that achieved a $1 billion valuation following a $75 million Series B round led by Sequoia last December. Serval expanded from AI tech support to assist HR, legal, and finance departments. Console’s acquisition positions Serval as the key startup to watch in automating IT service management, according to one investor not affiliated with Serval.
According to PitchBook, this marks Palo Alto Networks’ seventh acquisition in 2026. Other VC-backed companies acquired by the cybersecurity giant this year include Chronosphere, an observability platform backed by Greylock and Lux Capital, valued at $3.35 billion, and Koi, a cyber startup backed by Battery and Team8, for $400 million.
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