Palo Alto Networks Acquires Thrive-Backed Console for $500 Million, According to Sources

Palo Alto Networks has purchased Console for $500 million in a combination of cash and equity. Console, a two-year-old startup, utilizes AI agents to optimize routine IT help desk tasks, according to two sources familiar with the acquisition details.

The acquisition was officially announced on Tuesday; however, specific deal terms were not revealed. Founded in 2024, Console has successfully raised $29 million in funding across two rounds: a $6.2 million seed round led by Thrive Capital and a $23 million Series A, jointly led by DST Global and Thrive.

Before the acquisition, Console was valued at $157 million based on PitchBook data, providing a quick return for its investors, including SV Angel, Abstract Ventures, and notably, Palo Alto Networks CEO Nikesh Arora, who participated as an angel investor. Palo Alto Networks opted not to comment on the situation.

The cybersecurity leader plans to integrate Console into its Cortex platform, which leverages AI for automated threat detection and response. The features offered by Console will allow security teams to interpret and address alerts using natural language, thereby enabling Cortex “to provide autonomous security solutions across the entire enterprise,” as stated by Arora.

Console was founded by Andrei Serban shortly after his previous venture, a code-security platform named Fuzzbuzz, was acquired by Rippling. The startup served clients such as Ramp, Flock Safety, and Scale AI, automating tasks including password resets, app access provisioning for tools like Figma and Miro, and carrying out routine troubleshooting without direct human intervention.

Initially, Console faced competition from Serval, another player in the ServiceNow landscape, which reached a $1 billion valuation after securing a $75 million Series B round led by Sequoia last December. Originally created as an AI tech support solution, Serval has quickly expanded its services to include AI support for human resources, legal, and finance departments. With the acquisition of Console, Serval is positioned as the primary startup to watch in the IT service management automation sector, as noted by an investor not affiliated with Serval who spoke with TechCrunch.

This acquisition represents Palo Alto Networks’ seventh acquisition in 2026, according to PitchBook. Other venture capital-backed firms acquired by the cybersecurity leader this year include Chronosphere, an observability platform supported by Greylock and Lux Capital, with a valuation of $3.35 billion, and Koi, a cybersecurity startup backed by Battery and Team8, acquired for $400 million.