Key facts
- Palo Alto Networks acquired Console for $500 million in cash and stock.
- Console is a two-year-old startup using AI agents to automate IT help desk tasks.
- The acquisition was announced Tuesday, with deal terms not initially disclosed.
- Console had raised $29 million in seed and Series A funding rounds.
- Palo Alto Networks plans to integrate Console's technology into its Cortex platform for autonomous security.
- Console's founder, Andrei Serban, previously sold Fuzzbuzz to Rippling.
Palo Alto Networks has acquired Console, a two-year-old startup that utilizes AI agents to automate routine IT help desk tasks, for $500 million in cash and stock. The deal, announced Tuesday without specific terms, aims to bolster Palo Alto's Cortex platform with advanced autonomous security capabilities.
Console had previously raised $29 million across two funding rounds, including a seed round led by Thrive Capital and a Series A co-led by DST Global and Thrive. Before the acquisition, Console was valued at $157 million, according to PitchBook, providing a significant return for its investors, which included SV Angel and Abstract Ventures, as well as Palo Alto Networks CEO Nikesh Arora, who was an angel investor.
Palo Alto Networks stated that Console's agentic functionality will be integrated into Cortex, enabling security teams to investigate and resolve alerts using natural language. This integration is expected to provide Cortex with the ability to deliver autonomous security outcomes across the enterprise.
Console was founded by Andrei Serban, shortly after his prior startup, Fuzzbuzz, a code-security platform, was acquired by Rippling. Console's clients included companies like Ramp, Flock Safety, and Scale AI, and it automated tasks such as password resets and application access.
The startup operated in a competitive landscape, notably with Serval, another AI-driven IT service management tool that achieved a $1 billion valuation. Console's acquisition positions Serval as a key player to watch in the category.
This marks Palo Alto Networks' seventh acquisition in 2026, following other notable deals such as the $3.35 billion acquisition of observability platform Chronosphere and the $400 million acquisition of cyber startup Koi.