Palo Alto Networks paid $500M for Thrive-backed Console, sources say
The acquisition also leaves Sequoia-backed Serval as the de facto startup leader in AI IT service automation, industry watchers believe.
TL;DR
- Palo Alto Networks acquired Console for $500 million.
- Console uses AI agents to automate IT help desk tasks.
- The acquisition will integrate Console into Palo Alto Networks' Cortex platform.
- Console's technology allows security teams to investigate alerts using natural language.
- Console was founded by Andrei Serban and had previously raised $29 million.
- Palo Alto Networks CEO Nikesh Arora was an angel investor in Console.
- Serval is noted as a competitor and now a category leader in AI IT service management.
- Console is Palo Alto Networks' seventh acquisition in 2026.