TechCrunch sources familiar with the matter say that Palo Alto Networks has acquired Console, a startup founded just two years ago, for approximately $500 million in cash and stock. The two companies officially announced the deal on Tuesday, but did not disclose the amount. Console's products mainly use AI to handle repetitive tasks in the IT support desk, and this transaction will also complement Palo Alto Networks's presence in the field of enterprise automation security.
Console will be merged into Cortex
Palo Alto Networks indicates that Console will be integrated into the Cortex platform. This platform is currently mainly used for automatically detecting and dealing with security threats. After joining Console, the security team will be able to investigate alerts using natural language, handle common issues, and facilitate the automatic execution of certain processes.
Console's product was originally focused on IT support scenarios, including password reset, application permission activation, and routine troubleshooting tasks. Such work usually relies on manual service desks for handling, while Console attempts to reduce human intervention by using AI as a proxy.
Sold within two years of its establishment
Console was founded in 2024, with Andrei Serban as its founder. Its predecessor, Fuzzbuzz, was previously acquired by Rippling. According to reports, since its establishment, Console has completed two rounds of financing, raising a total of 29 million US dollars.
- Seed round financing of $6.2 million, led by Thrive Capital
- A round of financing of $23 million, co-led by DST Global and Thrive.
- Customers include Ramp, Flock Safety, and Scale AI.
According to PitchBook, Console was valued at approximately $157 million before the sale. The report also mentioned that Palo Alto Networks's CEO, Nikesh Arora, participated in the company's financing as an angel investor. Palo Alto Networks did not comment on the transaction price.
M&A activities continue to accelerate within Palo Alto year.
This is Palo Alto Networks's seventh acquisition in 2026. According to PitchBook's data, the company has also acquired several other firms supported by venture capital this year, including the observability platform Chronosphere, as well as the cybersecurity startup Koi.
- The transaction 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's service automation sector further decreased. The report mentions that another competitor, Serval, is still one of the startups worth paying attention to in this field. Serval completed a $75 million Series B financing led by Sequoia last December, with a valuation reaching $1 billion.
