Palo Alto Networks paid approximately $500 million in cash and stock to acquire Console, a startup founded in 2024 that uses AI agents to automate routine tasks in IT help desks, according to two people familiar with the deal who spoke to TechCrunch. The two companies had officially announced the acquisition without disclosing its value.
Palo Alto Networks plans to integrate Console into its Cortex platform, which uses AI to detect and automatically remediate threats. The company says the agentic capabilities developed by Console will allow security teams to investigate and resolve alerts using natural language, expanding the scope of automation from user support to some enterprise-level cybersecurity outcomes.
From Support Automation to Alert Remediation
Console had been developing software to carry out actions such as resetting passwords, granting access to applications such as Figma and Miro, and handling routine issues without direct human intervention. Its customer list included Ramp, Flock Safety and Scale AI.
The deal gives Palo Alto Networks a team and technology specialized in executing operational actions across enterprise systems. However, the source does not specify in detail how Console’s products will be integrated into Cortex, or what limits will be placed on agents’ permissions when they interact with alerts and internal systems. Therefore, the current announcement remains an indication of the integration’s direction, rather than a complete description of the final product.
A Quick Return for Investors
During the two years since its founding, Console raised $29 million through two funding rounds: a $6.2 million seed round led by Thrive Capital, and a $23 million Series A co-led by DST Global and Thrive. According to PitchBook, the company’s pre-sale valuation was $157 million, meaning the deal represents a significant return for investors, including SV Angel and Abstract Ventures, as well as Nikesh Arora, Palo Alto Networks’ CEO, who participated as an angel investor.
Palo Alto Networks declined to comment on the deal’s value, so the $500 million figure is based on sources’ accounts and is not a figure announced by the two companies.
What Does This Mean for the IT Service Automation Market?
Console had been competing with Serval, another startup seeking to challenge ServiceNow’s IT service management tools. Serval reached a valuation of $1 billion after raising $75 million in a Series B led by Sequoia last December. Serval began as an AI IT support tool and then expanded to provide assistance to human resources, legal and finance departments.
Palo Alto Networks’ acquisition of Console leaves Serval as a prominent name among startups focused on automating IT service management, according to an investor quoted by TechCrunch. This does not mean competition is disappearing; rather, it shows that the value of these technologies can increase when they are connected to security platforms with access to alerts and response operations.
The deal is Palo Alto Networks’ seventh acquisition in 2026, according to PitchBook. Other deals by the company this year include the acquisition of monitoring platform Chronosphere, backed by Greylock and Lux Capital, for $3.35 billion, and cybersecurity startup Koi for $400 million. Further integration details will require monitoring, particularly those related to the accuracy of automated decisions, the scope of agents’ intervention and mechanisms for human oversight.