Palo Alto Networks acquires AI startup Console for $500 million

Palo Alto Networks has acquired Console, a startup that automates IT help desk tasks using AI, for $500 million in cash and stock, according to sources familiar with the transaction. The acquisition was officially announced on September 2, 2026, but the terms were not disclosed. Console, founded in 2024, has raised $29 million in funding, including a $6.2 million seed round led by Thrive Capital and a $23 million Series A round co-led by DST Global and Thrive. Prior to the acquisition, Console was valued at $157 million, providing a significant return for its investors, which included SV Angel, Abstract Ventures, and Palo Alto Networks CEO Nikesh Arora, who was an angel investor in the startup. Palo Alto Networks did not comment on the acquisition. The company plans to integrate Console into its Cortex platform, which uses AI to detect and neutralize threats. Console's technology will enable security teams to manage alerts using natural language, enhancing Cortex's capabilities for autonomous security across enterprises. Console was founded by Andrei Serban, who previously founded the code-security platform Fuzzbuzz, which was acquired by Rippling. Console's clients included Ramp, Flock Safety, and Scale AI, and it automated various tasks such as password resets and app access. Console's main competitor is Serval, another startup that focuses on automating IT service management and recently reached a $1 billion valuation. This acquisition marks Palo Alto Networks' seventh acquisition in 2026, following other notable purchases including Chronosphere and Koi.