Palo Alto Networks paid $500 million in cash and stock to acquire Console, a two-year-old startup that uses AI agents to automate routine IT help desk tasks, according to two people familiar with the deal.
The companies formally announced the acquisition on Tuesday, but did not disclose terms of the deal. Since its founding in 2024, Console has raised $29 million in two rounds: a $6.2 million seed led by Thrive Capital and a $23 million Series A co-led by DST Global and Thrive.
According to PitchBook, the console’s pre-sale valuation was $157 million, generating quick returns for investors including SV Angel, Abstract Ventures, and Palo Alto Networks CEO Nikesh Arora, who joined as an angel investor, among others. Palo Alto Networks declined to comment.
The cybersecurity giant announced it will integrate Console into Cortex, a platform that uses AI to automatically detect and neutralize threats. The console’s agent capabilities enable security teams to investigate and resolve alerts using natural language, giving Cortex “the arms and legs to deliver autonomous security outcomes across the enterprise,” as Arora explained in a statement.
Console was founded by Andrei Serban shortly after his previous startup, code security platform Fuzzbuzz, was acquired by Rippling. The startup, whose customers include Ramp, Flock Safety, and Scale AI, automated tasks like password resets, granted access to apps like Figma and Miro, and performed routine troubleshooting without direct human involvement.
As a startup, Console primarily competed with Serval, another challenger to ServiceNow, which raised $75 million in a Sequoia-led Series B round last December, reaching a valuation of $1 billion. Serval started as an AI technical support tool and quickly expanded to provide AI assistance to HR, legal, and finance departments. The acquisition of Console makes Serval a notable category leader among startups automating IT service management, an investor who is not a Serval backer told TechCrunch.
The console will be Palo Alto Networks’ seventh acquisition in 2026, according to PitchBook. Other VC-backed companies acquired by cybersecurity giants this year include Greylock and Lux Capital-backed observability platform Chronosphere, valued at $3.35 billion, and Battery and Team8-backed cyber startup Koi, valued at $400 million.
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