Palo Alto Networks has finalized a $500 million acquisition of Console, a startup specializing in AI-driven automation for IT help desk tasks. The deal, which includes both cash and stock, was confirmed by sources familiar with the transaction.
Founded in 2024, Console has quickly made a mark in the tech industry, raising $29 million in funding through two investment rounds. The startup’s initial seed round, led by Thrive Capital, brought in $6.2 million, followed by a $23 million Series A round co-led by DST Global and Thrive.
Prior to the acquisition, Console held a valuation of $157 million, providing a substantial return for its investors, which include SV Angel and Abstract Ventures, as well as Palo Alto Networks CEO Nikesh Arora, who participated as an angel investor. Palo Alto Networks has opted not to comment on the specifics of the deal.
The integration of Console into Palo Alto’s Cortex platform is expected to enhance its capabilities in threat detection and response. Console’s technology will allow security teams to manage alerts using natural language, effectively streamlining the process of addressing security incidents.
Console was established by Andrei Serban, who previously founded the code-security platform Fuzzbuzz, which was acquired by Rippling. The startup has attracted clients such as Ramp, Flock Safety, and Scale AI, automating various IT tasks including password resets and application access without requiring direct human intervention.
In the competitive landscape of IT service automation, Console faced challenges from Serval, another player that recently achieved a $1 billion valuation after a significant funding round. With Console’s acquisition, Serval remains a key competitor in the market.
This acquisition marks Palo Alto Networks’ seventh purchase in 2026, further expanding its portfolio of cybersecurity solutions. Other notable acquisitions this year include Chronosphere, an observability platform valued at $3.35 billion, and Koi, a cyber startup acquired for $400 million.