TechCrunch, citing sources familiar with the matter, reported that Palo Alto Networks has acquired Console, a two-year-old startup, for approximately $500 million in cash and stock. The two companies officially announced the transaction on Tuesday, though the amount was not disclosed. Console’s products primarily use AI agents to handle repetitive tasks in IT service desks, and this acquisition will enhance Palo Alto Networks’ position in enterprise automation security.
The Console will be integrated into Cortex.
Palo Alto Networks stated that Console will be integrated into the Cortex platform, which is currently primarily used to automatically detect and respond to security threats. With Console added, security teams can use natural language to investigate alerts, resolve common issues, and automate certain processes.
Console's product originally focused on enterprise IT support scenarios, including password resets, application permission provisioning, and routine troubleshooting tasks. These tasks typically rely on manual help desk support, and Console aims to reduce human intervention using AI agents.
Sold within two years of establishment
Console was founded in 2024 by Andrei Serban. Its previous company, Fuzzbuzz, was acquired by Rippling. According to reports, Console has completed two funding rounds since its inception, raising a total of $29 million.
- Seed round of $6.2 million led by Thrive Capital
- Series A funding of $23 million, co-led by DST Global and Thrive.
- Clients include Ramp, Flock Safety, and Scale AI
According to PitchBook, Console was valued at approximately $157 million prior to its sale. The report also noted that Palo Alto Networks CEO Nikesh Arora participated in the company’s funding as an angel investor. Palo Alto Networks did not comment on the transaction price.
M&A activity in Palo Alto continues to accelerate this year.
This is Palo Alto Networks' seventh acquisition in 2026. According to PitchBook data, the company has also acquired several venture-backed firms this year, including the observability platform Chronosphere and cybersecurity startup Koi.
- The trading valuation of Chronosphere is approximately $3.35 billion.
- The acquisition price of Koi is approximately $400 million.
After Console was acquired, the number of independent startups in the enterprise IT service automation space has further decreased. The report notes that Serval, another challenger to ServiceNow, remains one of the notable startups in this field. Serval completed a $75 million Series B round led by Sequoia in December last year, reaching a $1 billion valuation.