Palo Alto Networks buys IT automation startup Console for $500 million

Palo Alto Networks paid $500 million in cash and stock for Console, a startup that uses AI agents, software that completes tasks without human input, to automate routine IT help desk work, according to two people with knowledge of the deal. The companies announced the acquisition Tuesday without disclosing terms, and Palo Alto Networks declined to comment on the price.

Console launched in 2024 and raised $29 million across two rounds: a $6.2 million seed round led by Thrive Capital and a $23 million Series A co-led by DST Global and Thrive. PitchBook had valued the company at $157 million before the sale, a jump that delivered a fast return for early investors, including SV Angel, Abstract Ventures, and Palo Alto Networks CEO Nikesh Arora, who put money into Console personally as an angel investor before his company acquired it.

The startup was founded by Andrei Serban, whose previous company, a code-security platform called Fuzzbuzz, was acquired by Rippling. Console’s software handled tasks like resetting passwords, granting employees access to apps such as Figma and Miro, and routine troubleshooting, all without a person stepping in. Its customers included Ramp, Flock Safety, and Scale AI.

Palo Alto Networks plans to fold Console into Cortex, its platform for detecting and responding to security threats. Console’s technology will let security teams investigate and resolve alerts using plain-language commands rather than manual review. Arora said in a statement that the addition gives Cortex “the arms and legs to deliver autonomous security outcomes across the entire enterprise.”

A narrowing field

Console’s closest competitor was Serval, another startup built to challenge ServiceNow, the dominant maker of IT service software. Serval reached a $1 billion valuation after a $75 million Series B round led by Sequoia in December 2025, and has expanded from tech support into human resources, legal, and finance work. One investor not affiliated with Serval told TechCrunch that Console’s sale leaves Serval as the startup to watch in the category.

The deal is Palo Alto Networks’ seventh acquisition of 2026, according to PitchBook. Earlier purchases this year included Chronosphere, a software-monitoring platform backed by Greylock and Lux Capital, valued at $3.35 billion, and Koi, a cybersecurity startup backed by Battery and Team8, bought for $400 million. What remains unclear is whether Serval will pursue a sale of its own or raise fresh funding to stay the largest independent startup in the category.